FAIVM delegation meets JK Bank CMD, demands welfare schemes for traders

Excelsior Correspondent

JAMMU, Oct 24: A delegation of J&K unit of Federation of All India Vyapar Mandal (FAIVM) today met J&K Bank Chairman and MD R K Chhibber at his office and put forth various demands of the traders and industrialists of the Union Territory.
Sanjay Bansal, president FAIVM J&K unit, who was leading the delegation, told the CMD that the bank should reach to new talents for awareness regarding startups and sanctions loan for skill education. He said that J&K Bank should check disparity in rate of interest between old and new customers and should not charged renewal from customers.
He said that as repo rate is 4%, so the rate of interest should not exceed 6.5%. He further stressed upon to improve work culture in the bank branches in terms of not harassing MSMEs and keeping a close watch on branches by constituting new committee and having a complaint redressal mechanism.
Bansal said that valuation of property done by the valuators is not up to the satisfaction of customers and it should be according to market rates. He said because of this, traders and industrialists are facing difficulties in getting loans.
The delegation emphasized upon improving net-banking at par with private banks and improving account statements as IMPS recipient details are not shown in account statement, start Cash pickup from customer point. The delegation also asserted that mudra loans be given to customers as per Government policy.
Chhibber gave a patient hearing to the delegation and promised that their every suggestion will be taken care of.
Sandeep Mengi (vice-president FAIVM J&K), Arun Sabharwal (secretary FAIVM J&K), Bishambar Dass (secretary organization development), Varun Sharma (president Jammu district), Ashish Gupta (general secretary Jammu district), Sunil Chopra (vice-president Jammu district), Shareesh Sharma (vice president and zonal head Jammu), Sanjeev Sharma (cluster head) and Vijay Kumar (cluster head) were part of the delegation.