JK Bank OTS A Ray Of Hope For Unstable Business, Says Chamber

SRINAGAR: The Kashmir Chamber of Commerce & Industry (Inc), President,  Sheikh Ashiq Ahmad stated that the Business Community of Kashmir was undergoing a period of unprecedented stress and turbulence and heading towards financial instability.

“The Special One Time Settlement Scheme 2021 announced by Baldev Prakash, Managing Director/CEO, The Jammu and Kashmir Bank Ltd declared on January 10, 2022, was a ray of hope for the  Business Community,” said Ashiq in a statement.

“While appreciating the efforts put in by Baldev Prakash for the said Special Scheme. However at the same time as mentioned the Scheme is valid for 30 working days for which the sanction or otherwise will be conveyed within 07 working days of the receipt of application with a maximum repayment period of six months,” he said.

The Kashmir Chamber of Commerce & Industry requests the Bank Authorities to not to make the Special Scheme time-bound and extend the re-payment time of six months as the  Covid restrictions started all over  India that affects the business community directly.

President, KCC&I, appeals the Business Community to avail this Special One Time Settlement Scheme to settle their accounts and avail this opportunity to get benefitted.

“In this time of crises, the Government had also announced the appointment of Baldev Prakash as the Managing Director / CEO of the J&K Bank. We  hope that under your dynamic leadership  all the  issues related to Business Community looked into and addressed at the earliest,” said KCCI president, adding that the Business  Community of Kashmir  views the appointment  as a positive  development to augment the good work done by the management of the  Bank under the leadership of Baldev Prakash.”

“Now that the  Government would be announcing important fiscal interventions aimed at reviving the economy, the role of J&K Bank would be critical in effective implementation of any measure,” said KCCI President Sheikh Ashiq in a statement.

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