In a major move to rehabilitate the 29 tonga-wallahs in South Kashmir’s district Islamabad, who were banned from plying their Tongas by the district administration, J&K Bank provided them with finances to the tune of Rs 1 crore for purchase of passenger vehicles.
District Development Commissioner Islamabad, Farooq Ahmad Lone delivered 15 passenger vans to the beneficiaries in presence of Bank’s Zonal Head Mushtaq Ahmad Mir, SSP Islamabad, R. K. Jalla, Cluster Heads, Branch Head and other senior citizens of the town.
On the spot, sanction letters were also distributed among other 14 tonga-wallahs.
According to the statement, shortly after the announcement of ban, J&K Bank tailored a special product for these tonga-wallahs with softer rate of interest, reduced margins and collateral free features.
Speaking on the occasion, DDC & SSP thanked the bank for helping the administration in rehabilitation of the tonga-wallahs and granting them loans on very soft and concessional terms.
On the occasion Zonal Head said that the initiative was taken as part of the banks Platinum Jubilee celebrations and renewed banks commitment to empower people of the state particularly economically weaker sections of the society.
He also assured that many more initiatives will be taken by the bank to empower the common people of J&K, he added.
The tonga-wallahs expressed gratitude towards the Bank for providing them finances when the ban on plying had put a question mark on their survival.
“We and our families are thankful to the Bank’s management for their complete support at a time when we had been left with no options to fend for ourselves. We are very happy to receive this financial support”, said a delighted toga-wallah as he received the keys of a fresh and sparking passenger van.