Excelsior Correspondent
JAMMU, Dec 23: J&K Bank Chairman and CEO Parvez Ahmed has announced reduction in interest rate in “J&K Bank Sahafat Finance Scheme” for journalists and others working in various media organizations.
The announcement was made during a felicitation function by the Press Club Jammu in honour of the J&K Bank Chairman, here today.
While addressing the Club members and media personnel, Parvez Ahmed made certain significant announcements, which include a reduction in rate of interest by 30 basis points for the Sahafat scheme, a donation of Rs 5.00 lakh to the Welfare Fund of Journalists of the Press Club and adoption of Press Conference Hall of the Club in the memory of late Ashok Sodhi for renovation and upgradation. The chairman also announced installation of Automated Teller Machine (ATM) and Cash Deposit Machine (CDM) in the precincts of the Club.
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“On the insistence of media community, we have decided to reduce the rate of interest of this scheme by 30 basis points which now stands at 11.90 percent,” the Chairman said.
He further said, “It is a matter of pride and gives me immense pleasure to roll out this tailor-made scheme for the journalist community at this venue. The launch of this product is an effort which signifies our recognition of media as a viable economic sector, represented by very passionate and talented people”.
Expressing his gratitude for felicitation by Jammu Press Club, Chairman said, “As the premier financial institution of this State, it is our duty to come out with specific, professional schemes like Sahafat Finance which will be helpful in meeting their immediate personal as well as professional financial needs.”
Earlier, in his welcome address, president Press Club Jammu, Ashwani Kumar highlighted the activities of the Press Club Jammu and its role in welfare of media persons in J&K.
Vice-president J&K Bank, Rakesh Gandotra (S&BD), gave a comprehensive account of the scheme that has been uniquely tailored for the media persons.
The purpose of the unique scheme is to provide easy and hassle-free finance to media persons for personal and professional needs on urgent basis. The maximum credit of Rs 3 lakh repayable in 60 EMI’s shall be provided in form of term loan for purchase of cameras, tablets, laptops etc and revolving cash-credit facility to meet routine money needs.
Pertinently the scheme was first unveiled at a function at Corporate Headquarters Srinagar earlier this month.
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