SRINAGAR: The Federation of Chambers of Industries Kashmir (FCIK), the premier industry body in the region, has welcomed the appointment of Amitava Chatterji as the new Managing Director and Chief Executive Officer (MD&CEO) of JK Bank, expressing optimism about the positive impact his leadership will have on both the bank’s growth and the broader economic revival of Jammu and Kashmir.
In a statement, FCIK described the leadership change as a significant step towards the transformation that is crucial for the region’s economic development. The industrial body highlighted Chatterji’s extensive experience, particularly in lending, which they believe will play a key role in reviving struggling businesses and encouraging the growth of new ventures, particularly in sectors such as Micro, Small, and Medium Enterprises (MSMEs).
FCIK acknowledged the unique challenges faced by businesses in Jammu and Kashmir, noting that the region’s history of political instability, natural disasters, and socio-economic upheavals has created a business environment that cannot be approached with a one-size-fits-all strategy. The chamber expressed confidence that Chatterji, with his understanding of the region’s complexities, would recognise the need for a tailored approach to support local enterprises and stimulate sustainable growth.
In addition to its support for the new MD&CEO, FCIK urged the Jammu and Kashmir government to brief Chatterji on the realities faced by local businesses. The chamber emphasised the importance of a holistic approach that includes sector-specific lending, particularly for supporting weaker sections of the economy.
FCIK also expressed hope that Chatterji’s leadership would bring an end to the era of harassment and intimidation that had plagued both borrowers and bank employees in recent years. The Federation anticipates a shift towards a more customer- and employee-friendly atmosphere within J&K Bank, which it believes is essential for rebuilding trust, fostering growth, and creating an environment conducive to collaboration.
