SLBC Proposes further 2 yr Relaxation to Trade & Industry

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KL Report

SRINAGAR

The Sub-Committee of J&K State Level Bankers’ Committee (SLBC) Friday recommended a further two-year extension in special package of concessions/relaxations to trade and industry in J&K. The period suggested is up to March 31, 2016, a J&K Bank statement said.

“The sub-committee made its recommendations to Reserve Bank of India after thorough discussions in a meeting held here at the J&K Bank Corporate Headquarters. Parvez Ahmed, Executive President, J& K Bank presided over the meeting,” it said.

The meeting was attended by S K Bhat, President (SLBC) J&K Bank, Mohammad Amin, President (A&AP) J&K Bank and senior officers from RBI, SBI, PNB, UCO Bank, IDBI, Finance and Industries & Commerce Department, J&K Government, President FCIK and Senior Vice President KCCI.

“During the meeting the representatives of trade & industry associations referred to multiple difficulties faced by trade & industry in the state and strongly pleaded for the extension of concession/relaxation by banks to trade & industry for another two years.”

Consequent upon the deliberations, the Sub-Committee unanimously decided to recommend to Reserve Bank of India that special package of concessions/relaxations to trade and industry in J&K be extended by a further period of two years,” the statement said.

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