Provide relief to Kashmir entrepreneurs: PHD Chamber to Chairman J&K Bank

PHD Chamber Kashmir Chapter has said that 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 proven track record of cash flow.

Thiswas conveyed by the delegation of PHD Chamber Kashmir Chapter headed by itsChairman Baldev Singh Raina and co-chair ShowketChoudhary along with expertcommittee chairs and co-chairs Bilal Ahmed Kawoosa, AqibChaya, Tariq RashidGhani, Qaisar Mir, Shahana Fatima, and other executive members, who called onJK Bank Chairman R K Chibber.

   

Accordingto a PHDCK Chapter statement, the meeting was also attended by team of JK Banktop officials comprising ArunGandotra, President CCB/CB/Credit, ChetanPaljore,President CBO/TMO/IAPM, Ashraf Ali Malik, President Law and Chief CIV, PeerMasood Ahmad, Vice-president CBO/TMO/IAPM, ManzoorHussain, Vice-president, CCB,CB, RoshanKhayal, Vice-president Law, Karanjit Singh, special secretary to CMD.

Whileappreciating the working of J&K bank, the delegation discussed variousissues of trade, commerce and industry which includes revival andrehabilitation of loan accounts including large borrowers,  infusion of 30%capital in NPA accounts,  revival and rehabilitation of Sick SME`sunder CGTMSE Scheme, credit support to the unit holders under cluster financingscheme and opening up of dedicated MSE Branch as per RBI Guidelines underCluster Finance Scheme at Silk Tech/Handicraft Park Zakura,  framing of robust Joint advisory Committee ofPHDCCI-JK Bank, monitoring of cases under rehabilitation package to theborrowers hit by disturbances and issuing of master circular regarding extensionof not declaring MSME `s as NPA till Dec-2020.

Thestatement said apart from that individual cases of members were thoroughlydiscussed with Chairman.

“J&KBank is our real hope in times of need and we as PHD Chamber believe that astrong banking system is crucial for the growth and development of economy butat the same time this should be taken into consideration that the business andbalance sheets of J&K based companies are still not robust enough tosustain the brunch of extreme measures,” Baldev Singh Raina told Chairman.

Rainaapprised the Chairman that the entrepreneurs of J&K have built a reputationand credibility by sheer dint of hard work by being fully committed to thebusiness ethos with all stakeholders and are most grateful to their bankingpartners.

“Thebusiness struggle of entrepreneurs from J&K is unique as compared to otherStates and Union Territories of India as they do have to battle time and againthe unforeseen circumstances posed by the political and climatic vulnerabilitiesin the state of J&K.”

Rainasaid J&K Bank is an institution of systematic importance which is offeringdirect and indirect employment opportunities to the youth of the state andthere should be a message from J&K Bank to people of J&K that the Bankis functioning with its routine way of working and the discretionary powers ofthe top management  at Business unitsshould be immediately reviewed to ensure that the normal credit and investmentoperations are not hampered

Chibberwhile giving patient hearing to all issues said the Bank shares a time-testedbond and would like to assure that the bank is and will always be committedtowards providing with the best services .

“Heclarified that the Bank has not issued any circular with regard to curtailmentof different facilities provided earlier and the standing instructions havebeen issued to provide different facilities to the customers in routine as wasprovided earlier,” said the statement.

Chibbersaid the Bank remains committed to clean and responsible banking.

“TheBank is fully committed to adopting the best practices and measures that needto be taken, both from a statutory and regulatory point of view. Understandingfully well that the Bank cannot prosper in isolation we are voluntarilyengaging ourselves and assuring to restore customer confidence with aggressivedrive in all branches by ensuring that no customer’s genuine requirement is puton hold.”

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