Trade bodies' delegation calls upon J&K Bank CMD

A delegation comprising senior functionaries from prominent trade bodies and associations of Kashmir called upon the J&K Bank Chairman and Managing Director R K Chhibber here at Corporate Headquarters of the bank. 

The visiting delegation consisted of representatives from Kashmir Chamber of Commerce & Industry, Kashmir Traders and Manufacturers Federation, Kashmir Economic Alliance, Kashmir Carpet Manufacturing Association, Kashmir Hotel And Restaurant Owners Federation, The Jammu & Kashmir Hoteliers Club, J&K Tourism Alliance, Associated Kashmir Tour Operators, Kashmir Industries Association Rangreth, Kashmir Industrial Revival & Development Forum, Private Schools Association, PHD Chamber of Commerce & Industries Kashmir Chapter, Shahr e Khass Traders’ Association, Kashmir Chemists & Druggists Association, Artisan Rehabilitation Forum, IGC Lassipora, Kashmir Youth Entrepreneurs Forum and J&K Hajj & Umrah Association.

The CMD, who was flanked by his senior management team including Arun Gandotra (President CCB/CB, Credit), Chetan Paljore (President CBO/TMO/IAPM),  Ashraf Ali Malik (President Law & Chief CIV), Peer Masood Ahmad (Vice President CBO/TMO/ IAPM), Manzoor Hussain (Vice President CCB, CB), Roshan Khayal (Vice President Law) besides Special Secretary to CMD Karanjit Singh, extended a warm welcome to the delegation. He assured all the functionaries of trade bodies that the Bank remained committed to extend all possible support for the businesses, betterment of the business community and the economy of the region at large. He appreciated and underlined the profound importance of the bond the bank shares with the people of the region.

Present on the occasion, President KCCI Sheikh Aashiq also highlighted the importance and the interdependence of business community and J&K Bank. He gave a detailed overview of the various problems faced by the business community and requested the bank’s leadership to come forward and help the business community to overcome the distressing situation they are beset with.

Other members of the delegation also spoke on the occasion. The issues and problems faced by the almost all the traders, businessmen and commercial bodies were discussed at length during the meeting. They also requested bank to take up with RBI the request already forwarded to them through UTLBC for modifications on the rehabilitation package.

After listening patiently to the issues and concerns raised by the members of the delegation, the CMD reiterated that the management of the bank was committed to redress all the issues/problems faced by the business community and will make every effort to support them within the regulatory framework of bank’s operations. He recalled the role played by the bank as the convener of UTLBC presided over by Chief Secretary B.V.R. Subrahmanyam wherein the regulating authorities were requested to extend the package benefits to the large borrowers also besides consideration of all standard accounts in the package, adding that the same request has been voiced again by the J&K Government recently. The Chairman also highlighted the role played by Lt Governor Girish Chandra Murmu in conveying the concerns of the business and economy to the regulator.

Speaking about the bank’s financial health, R K Chhibber said, “The bank is showing growth of around 15% both on liability as well as on asset side. Such sustainable growth is possible only with full support of the communities we are closely working with. At the same time it also signifies banks commitment towards the development / betterment of business community”, adding that the bank remains committed to the economic development of the UT.

Regarding some operational issues raised by the members of delegation, the CMD issued directions to all the operative levels to facilitate and provide all the necessary support to business community.

The delegation thanked the CMD and his team for hearing them out and assurance of support.