Shaher-e-Khass traders’ body seeks extension in J&K Bank’s NPA scheme

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Representational ImageSource: Twitter@JandKBank

Srinagar, Nov 5: The Shaher-e-Khass traders have thanked the CEO/MD and other officials of Jammu & Kashmir Bank for considering and accepting their request for settlement of NPA accounts.

“In this respect, the bank’s circular and scheme of settlement for the NPA accounts is highly appreciable as it will help a large number of traders settle their accounts and offer them a great relief,” read a statement, issued by the traders’ body.

The traders’ long struggle for such a scheme which has resulted in the waiver of full interest and almost 15 % discount on principal loan amount, it said.

“The JK Bank management’s granting almost 6 months for settlement of NPA accounts is welcome and Shaher-e- Khaas traders are hopeful that the traders will take advantage of the scheme which is a golden chance for NPA account holders to settle their account and pursue their businesses with more vigour and vitality without stress,” added the statement, issued by the president of Shaher-e-Khaas traders, Bashir Ahmed Kenu.

“We request all the traders whose accounts were declared NPA by the bank should come forward and avail the benefit of the scheme. The Shaher-e- khaas traders will assist all the traders who approach it for settlement of their cases under this scheme. Moreover, we request JK Bank Management to extend the scheme for 6 more months beyond March, 2023 and make it available for NPA accounts above 10 crores to enable businesses avail of the scheme which are not covered under the scheme,” the statement added.

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