Jammu and Kashmir Bank on Wednesday launched “Help Tourism,” a financial product custom-made to boost the tourism infrastructure within the state.
“This product has been designed to cater to two sets ofprospective customers with distinct needs and aspirations. For, we remaincommitted to provide the best financial products tailored to meet the variedrequirements of our diverse clientele besides providing business opportunitiesto the educated youth so that they contribute positively to the state economy,”said, J&K Bank Chairman and Managing Director R K Chhibber at the launch ofBank’s product.
The twin-purpose loan product has two components tailored toprovide hassle-free credit for the conversion of residential properties intotourist guest houses. Besides, it will also enable prospective borrowers topurchase adventure sports equipment for setting up outlets/facilities to hirethe equipment to local, national and international customers desirous ofundertaking various kinds of adventure sports or for providing recreation andadventure related services to the paying visitors.
The quantum of finance will be from Rs. 1 lakh per room toRs. 15 lakh per guest house while as in case of adventure equipment the maximumloan will be Rs. 15 lakhs.
Moreover, the loan under ‘J&K Bank Help Tourism’ shallbe provided only for renovation/refurbishment of residential houses andpurchase of required materials, while as the adventure sports equipment has tobe purchased from registered national agencies or imported from abroad.