Customers have withdrawn Rs 600 crore from J&K Bank ATMs across on the Eid-ul-Fitr eve, which is double than the disbursements of 2018 Eid-ul-Adha
On recent Eid-ul-Fitr, J&K Bank’s Automated TellerMachines across Kashmir doled out more than Rs 600 crore during last three daysbefore the festival which is double thanthe withdrawals during Eid-ul-Adha of 2018.
As per a J&K Bank official, more than Rs 600 crore werewithdrawn from its ATMs through 11 lakh transactions from June 2 June 4 aheadof this Eid which is double than what was withdrawn on Eid-ul-Adha last year.Almost Rs 300 crore were withdrawn from the bank’s ATMs on August 19, 20, 21last year through 5.61 lakh transactions.
The official credited the disbursement of employees’salaries ahead of Eid, aided with the growing network of J&K Bank ATMs.
Besides the liquidity influx in the market, mutton andpoultry sector sales worth Rs 80 crore on the Eid eve present a good businesspicture. Mehraj-u-din Ganai, president, All Kashmir Wholesale Mutton DealersAssociation said mutton consumption picked up from the day of Jumat-ul-Vida butmaximum sales were seen during last two days before Eid, he said. “From lastone week, 700 livestock laden trucks reached Kashmir from different mandis andin addition local production was also utilised. On non-festive days, we import 40 truckloads of livestock daily, but fromlast few days before Eid it increased to 100 truckloads as demand for muttonsoared ahead of Eid,” Ganai said. As per Ganai, last year during days beforeEid-ul-Fitr mutton consumption registered across Kashmir was worth almost Rs 40– Rs 50 crore. However, Ganai said the price hike of mutton in retail marketfrom almost Rs 420- Rs 440 per kilogram sold last year to now Rs 500 per kg hasinfluenced overall sales.
Kashmir consumed 30 – 35 lakh chickens this Eid says AllKashmir poultry dealers association president Ghulam Muhammad adding that is a”considerable growth” compared to the last year. “The fact that localproduction has also increased has contributed to the overall sales. Afterfrequent closure of highway last month, the delivery of supplies to retailmarkets has been much smooth recently,” he said. Bakery also witnessed brisk sales with ahuge rush at popular bakery and newly opened bakery outlets. All Kashmir Bakersand Confectioners Association, president, Omar Bhat said compared to last yearthere was a sharp increase in sale of bakery by almost 30 per cent. “2018 Eidwas quite a dampener as sales could not pick up even on the last day before thefestival day. By grace of Allah the business has been quite satisfying thisyear. Business sentiment has improved and we have seen brisk sales of bakeryproducts,” Bhat says.