SRINAGAR: Associated Chamber of Commerce and Industry Kashmir CCIK Wednesday called on CEO J&K Bank Baldev Prakash and apprised him of the various issues the business community are facing.
The delegation was led by its President Tariq Ghani, Mushtaq Chaya Chairman Tourism Committee of CCIK who were accompanied by Qaiser Mir Chairperson of Women’s Entrepreneur Committee CCIK, Showkat Hussian Treasurer CCIK, Adnan Shah Chairman Youth Committee CCIK And Arif Qureshi EC member.
Shafat Rufai Reginal Head J&K Bank, Sujhat Andrabi J&K Bank and Tanver Ahmed J&K Bank.
At the outset, the delegation thanked the Bank Chairman for giving them an audience and supporting the local business community.
The delegation urged the J&K Bank CEO to extend the One Time Settlement scheme by three years so that more borrowers can avail the scheme.
The delegation further urged the CEO that banks should take plant and machinery as mortgages for any project finance, not any other external mortgages.
“The bank should also inform the guarantor before deducting any installment so that he can also pressurise the borrower for making the payment to the banks.”
Besides, the delegation urged the CEO that the banks should not publish the names of the defaulters which damages his reputation in society.
Mushtaq Chaya said that the J&K Bank schemes should apply to both new and existing units.
He said the existing entrepreneurs have taken the brunt of the economic slowdown for the last few years and thus need financial handholding.
Chaya further urged the JK Bank Chairman to provide financial infusion to the local industry at a low rate of interest compared to other banks so that local units shift to JKB only.
President CCIK Tariq Rashid Ghani said the policy of the bank “any branch is your branch” should be implemented on the ground.