KCC&I Delegation Meets J&K Bank CEO

KL Report

SRINAGAR

A high level team of Kashmir Chamber of Commerce and Industry Friday met the chairman and CEO of J&K Bank, Mustaq Ahmad and had a detailed meeting in few current issues.photo

As per a statement the issues related to the Credit Deposit Ratio in Kashmir which is quite less compared to the other states of India, CGFS/ ECG schemes, Dastkar Financing Scheme, Venture Capital, other specific/special schemes, revival and rehabilitation of industrial units that have suffered huge loses, asset reconstruction agency, rate of interest to be revisited, investment Insurance scheme and repayment of loans.

The Chairman has assured the KCC&I members full support and has asked them to come up with plans and proposals.

The KCC&I members included Sheikh Ashiq Ahmad, Sr Vice President, Mushtaq Ahmad Wani, Secretary General and Syed Musadiq Shah, Treasurer headed by its President Abdul Hamid Punjabi.

As per the spokesperson of KCC&I, he said that before concluding it was noted in the meeting that the KCC&I and J&K Bank have come into existence at a short interval one after the other in 1930s to work shoulder to shoulder first (KCC&I 1934) to promote , organize trade, commerce and industry, revive traditional Kashmir arts and crafts and looking after the artisans of the State ; and the second (J&K Bank 1938) to help people of Kashmir getting free from the clutches of the money lenders and develop their business independently.

Both the Chairman J&K Bank and President KCC&I have reaffirmed their commitment to abide by the set principles of their organizations.

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