PHD chamber delegation calls on J&K Bank chairman

A delegation of PHD Chamber Kashmir-chapter held a meeting with J&K Bank Chairman RK Chibber on Wednesday at the corporate headquarters of the bank.

The delegation was headed by PHD Chamber Kashmir-chapter chairman Mushtaq Ahmed Chaya, Co-Chairs Baldev Singh Raina and Zahoor Ahmed Tramboo along with Expert Committee Chairs and Co-Chairs ShowketChowdhary, Vicky Shaw, Jan Muhammad Kaul, Bilal Ahmed Kawoosa, Tariq Rashid Ghani, Qaisar Mir and Nasir Shah.

The delegation discussed various issues of Trade, Commerce and Industry which included the doubts or fears about J&K Bank Merger, ensuring the Cash Credit Limit facility, fast approval of pending cases, revival and rehabilitation of Sick SME`s under CGTMSE Scheme, Credit support to the unit holders under cluster financing scheme and opening up of dedicated MSE Branch as per RBI Guidelines under Cluster Finance Scheme at Silk Tech./Handicraft Park Zakura,  Framing of robust Joint advisory Committee of PHDCCI-J&K Bank.

Mushtaq Ahmad Chaya told the chairman J&K Bank is real hope of people of the state in times of need and PHD Chamber believes that a strong banking system is crucial for the growth and development of states economy but at same time this should be taken into consideration that the business and balance sheets of J&K based Companies are still not robust enough to sustain the brunch of extreme measures.

The J&K Bank must provide handholding and relief to the entrepreneurs who have proven record of credibility and commitment towards timely repayment and are good quality credit borrowers with good track record of cash flow.

Chibber, according the PHD Chamber statement, said that in the wake of recent events, J&K Bank understands the concerns and queries that you might have. “The bank shares a time-tested bond and would like to assure you that your bank is and will always be committed towards providing you with the best services . The chairman clarified that the bank has not issued any circular with regard to curtailment of different facilities provided earlier and the standing instructions have been issued to provide different facilities to the customers in routine as was provided earlier,” he was quoted in the statement. The chairman assured the stern action against any particular issue in this matter.