As part of relief and rehabilitation package for the flood affected people of J&K, Union Minister of State Dr. Jitender Singh Monday launched ‘Jammu and Kashmir Special Credit-cum-Relief Camps’ in presence of State Finance Minister Abdul Rahim Rather, Chairman Indian Banks’ Association (IBA) T M Bhasin, J&K Bank Chairman & CEO Mushtaq Ahmad, Principal Secretary to government B B Vyas, senior functionaries of all the Banks, prominent citizens and a number of flood affected persons in Jammu.
Speaking on the occasion, Dr Jitender Singh, who holds portfolio of Science &Technology and Earth Science, PMO, Personnel, Public Grievances &Pensions, Space & Atomic Eenergy, said, “These camps have been devised by the Ministry of Finance (GOI) and IBA with complete support from J&K Bank which is Convenor State Level Bankers’ Committee (SLBC).”
“The main feature of the relief package is to provide loans for economic activities and reconstruction of houses to the flood-affected on softer terms like longer repayment schedule, concessional rate of interest and extended moratorium.”
“The government of J&K is well aware of the magnitude of the losses that the people in Jammu and in Kashmir have suffered due to the floods. We are expediting to bring economy back on wheels as soon as possible”, said Abdul Rahim Rather, Finance Minister of the state in his address.
Earlier, Chairman J&K Bank Mushtaq Ahmad expressed his sympathies for the flood affected people of the region. He thanked IBA, RBI and the central government for extending full support in drafting and sanctioning of the package as per the need and sentiments conveyed in the special SLBC meeting by the banking fraternity operating in the state.
Chairman IBA T M Bhasin also expressed his feelings on the unprecedented situation in the valley due to the deluge and pledged support for the initiatives taken by the banking Industry especially the J&K Bank for rehabilitation of the people in the flood affected areas of the state.
The function concluded with vote of thanks by the bank’s President S K Bhat.
Notably, similar scheme is being launched on Tuesday at SKICC, Srinagar.