CCIK urges J&K Bank to lower interest rate on loans

The delegation urged banks to extend the benefits of various schemes which have been tailor-made for new investors to existing investors as well.
The delegation urged banks to extend the benefits of various schemes which have been tailor-made for new investors to existing investors as well.Special arrangement

Srinagar: A delegation of the Chamber of Commerce and Industries Kashmir (CCIK) today met the CEO, MD J&K Bank, Baldev Prakash in which business community members raised issues confronting them and sought their redressal.

As per the statement, the CCIK delegation was headed by its president Tariq Rashid Ghani, Chairman Tourism Committee CCIK, Mushtaq Ahmad Chaya, Qaiser Mir, Adnan Shah, Showkat Hussain and Arif Ahmad.

CCIK delegation sought the CEO of J&K Bank's intervention in extending the tenure for the one-time settlement scheme from six months to three years. "We informed the bank officials that six months is a short period for defaulters to pay this amount, it would be prudent to extend the OTS time limit to three years," Tariq Rashid said.

Mushtaq Chaya on the occasion raised the issue of a higher rate of interest charged by banks on advances. He urged the bank management to lower interest rates to give a boost to the economy.

The delegation urged banks to extend the benefits of various schemes which have been tailor-made for new investors to existing investors as well, there should be a single-window clearance of cases for young entrepreneurs, and banks should desist from naming and shaming defaulters as it has social ramifications.

In the end, the CCIK delegation urged the bank management to lay stress on the compliant redressal and also directed branch heads to ensure that their staff's attitude towards customers should be friendly, not hostile," it states.

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