J&K Bank CMD meets Katra business community

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J&K Bank Chairman & MD R K Chhibber today had a detailed interaction with the representatives of Hotel & Restaurant Association, Katra (HRAK) and Federation of Hotels, Restaurants, Industries and Commerce of Jammu Region (FHRICJR) led by its Chairman Rakesh Wazir in Katra.

According to a statement issued here, the meeting was attended by the Bank’s Zonal Head Anokh Singh, Cluster Head Udhampur Sanjeev Kumar, and Head BU Katra Dherraj Sharma besides President Municipal Committee, Katra Bimal Indu, former president HRAK Shiv Kumar Sharma, Block Development Chairmen (BDC) Katra, Sham Lal and BDC Panthel Chander Mohan, Arun Sharma, Rakesh Sharma, Sohan Lal, Anil Kumar etc.

Chairman & MD R K Chhibber asserted that tourism is the back bone of J&K economy and the bank shall provide every help, and assistance to Tourism and Hotel Industry.

He acknowledged the fact that Tourism Sector in general and Hotels in Katra and other Tourist spots of Union Territory of J&K  in particular were  worst sufferers due to the ongoing pandemic.

“J&K Bank shall continue to stand with business community during the current crisis as we have stood by our customers in every thick and”, he asserted.

He said that Bank is also offering the central government’s Guaranteed Emergency Credit Line 3.0(GECL 3.0) scheme for Hospitality, Travel & Tourism and Leisure& Sporting Sectors, wherein additional Working capital term Loan of up to 40% of the balance outstanding in loans availed as on February 29, 2020 can be extended to the borrowers for meeting their operational liabilities and to restart the business.

Stressing upon the businessmen associated with these sectors to avail the maximum benefits of this scheme, the CMD said that if need arises, a tailor made scheme can be launched within the regulatory framework of RBI for the benefit of genuine borrowers.

Regarding providing loans to new entrepreneurs, the CMD said that bank has bouquet of financial products catering to all business segments and entrepreneurs desirous of availing loans from the bank can approach any Business units for the same. On the issue of Abadi Deh Land, he assured to look into the matter within the legal framework of UT of J&K.