J&K State Cooperative Bank has entered into an agreement with six Srinagar-based traders’ bodies to channelize hassle-free credit flow to the local businesses, here.
The traders’ bodies are: Madina Chowk Federation, MaisumaBazaar Federation, Red Cross Road Federation, Bazaar Committee Koker Bazaar,Nai Sarak Traders’ Association and Boulevard Business Association.
The agreement is aimed to channelize the smooth credit flowto the members of the associations for the growth of business here.
The memorandum of understanding was signed between the bankand the associations at an impressive event organised at the corporateheadquarters of the bank.
Chairman of the bank, M S Dar was the chief guest at theoccasion.
The MoU was signed by MD of the Bank, M Lateif andrepresentatives of six traders’ bodies.
Lateif on the occasion said the Bank is planning to enterinto such arrangements with other traders’ bodies and create a healthy lendingatmosphere whereby businessmen will have a say in the formulation of thebanking products.