Extending its discussions further with the business communities, J&K Bank leadership met a delegation comprising of members from various trade bodies of Kashmir valley here at its headquarters.
Flanked by the team of his senior management, Chairman andManaging Director (CMD) R K Chhibber led the deliberations with the delegationof business and industries community headed by President Kashmir Chamber ofCommerce and Industry (KCCI) Sheikh Ashiq.
The participants from the bank included Executive PresidentsArun Gandotra, G N Teli, and Special Secretary to CMD Karanjit Singh besidesVice Presidents Fayaz Ahmad Zargar, Manzoor Hussain, Peer Masood, TasaduqAhmad, Tabasum Nazir and AVP Reyaz Ahmad Wani. The delegation included membersof Kashmir Economic Alliance, Kashmir Traders and Manufacturers Federation(KTMF), Kashmir Hoteliers and Restaurant Owners Federation (KHAROF), JK TourismAlliance, J&K Private school Association and Cold Storage OwnersAssociation. Besides, representatives of Kashmir Distributors & SuperStockists Association, J&K Association of Hajj and Umrah Companies, J&KArtisan Rehabilitation Forum, Shehr-i-Khaas Traders and Coordination Committee,and J&K Chemists and Druggists Association were also present.
According to statement, the members requested the bank toconsider their request of increasing the additional facility in Working Capitallimit from 10% to 20%, interest rebates on loans for businesses, soft loans orinterest free loans for hoteliers so that jobs can be secured and salaries canbe paid. “The members also requested the bank to take up the matter ofvarious pending subsidies and subventions due with the UT government. Themembers requested the bank to review OTS policy of the bank.”
The delegation pleaded for special packages for handicraftssectors which mainly provides livelihood to people from Shehar-i-Khaas. Themembers also requested the bank for organizing more customer meets at thebranch level.
The CMD said that survival and revival should go hand inhand while reiterating the bank’s commitment to extend all possible support tothe business communities.
He assured them that all the possible benefits within theregulatory framework shall be extended to the borrowers. The CMD asserted thatthe Bank was conducting deliberations with all trade bodies through itsrecently constituted high-level committees in Jammu as well as in Kashmir toassess the practical issues being faced by the business communities and reachat mutually beneficial conclusions within the regulatory framework.
Clearing the bank’s stance on EMI deductions, he said, thebank has followed the guidelines of RBI, however, in some cases wheredeductions have been effected; those are for the period before March whereininstallments were pending. The CMD also took note of the suggestions in respectof reconsideration of OTS policy.