Jammu traders meet J&K Bank Chairman, seeks renewal of credit facilities

Jammu, Aug 3: A delegation of traders on Tuesday met Jammu and Kashmir Chairman, R K Chhibber, who is also the Managing Director and sought renewal of credit facilities.
The representatives requested for renewal and enhancement of the credit facilities availed by many of the traders of Fruit Mandi Narwal Jammu – whose lease deeds with the APMC department were in the process of renewal – without insisting on interim securities.
The delegation met Mr Chibber at the bank’s Zonal Office and during the interaction they raised various issues faced by the business community.
Pushing for more such meetings between the bank’s leadership and the trade and industry bodies, the delegation called for regular interactions for prompt redressal of their issues.
Commending the bank’s leadership for adopting a sensitive and empathetic approach to the problems faced by the people in general and business community in the wake of the Covid-19 pandemic, the representatives thanked the bank for its continuous support.
“J&K Bank has been there always for us in times of need and we wholeheartedly acknowledge and applaud their critical role in the development of trade and industry here”, the representatives said.
While putting forth certain suggestions to further strengthen the bond between businesses and the bank, the representatives requested the bank to reduce its interest rates and make its OTS policy flexible besides expediting disposal of loan proposals.
In view of the impact of pandemic on the overall business, the delegation asked for a moratorium period as well as 10 per cent additional funding to all the affected businessmen in addition to the facilities extended by the bank through resolution package 2.0.
Requesting that the cases involving higher amounts be sanctioned/settled at the earliest, the delegation suggested that Zonal Office Jammu be empowered/upgraded with higher delegation of powers.
Chibber in his response thanked the delegates for feedback and assured that each and every issue raised by them will be addressed on merit and within the bank’s laid down guidelines and regulatory framework.
“Our growth remains interlinked perpetually to the growth of trade and industry of this UT, and as a major financial institution of the region we are committed to provide you with every kind of financial support within the regulatory guidelines in addition to the best banking facilities and services,” he said.

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