FICCI council hails LG

File Photo of J&K L&G Manoj Sinha

Chairman FICCI council and Managing Director, IA Multi Ventures Irfan Ahmed Guju has hailed Lt Governor Manoj Sinha for the relief package of Rs 1350 crore including interest subvention @ 5% for six months, availability of one time loan settlement and restructuring applicable to standard accounts as on 31st July 19 or 31st March 2020.

In a statement, Guju said there is a need for improvement even in the grievance redressal mechanism of banks.

“Entrepreneurs in Jammu and Kashmir need the complete support of the banking sector including disbursal of loans under the Emergency Credit Loan Guarantee Scheme and timely response to the requests for restructuring of loans under the One Time Loan Restructuring Scheme announced by RBI,” he said.