J&K Bank CMD meets KTMF delegation

J&K Bank CMD R K Chhibber in a meeting with KTMF delegation in Srinagar.
J&K Bank CMD R K Chhibber in a meeting with KTMF delegation in Srinagar.

Excelsior Correspondent

SRINAGAR, July 3: A delegation of Kashmir Traders & Manufacturers Federation (KTMF) today called upon J&K Bank Chairman and MD (CMD) R K Chhibber here at the bank’s headquarters.
The CMD led the bank’s management team that included executive presidents Arun Gandotra, Sunil Gupta and Ghulam Nabi Teli, presidents Chetan Paljore and Dr Ashraf Ali, special secretary to CMD Karanjit Singh and vice president Manzoor Hussain, while as the traders’ delegation comprised of president KTMF Mohammad Yaseen Khan, senior vice president Manzoor Ahmad Bhat, secretary General Bashir Ahmad Kongposh besides a dozen of office bearers representing different districts of the valley.
The delegates highlighted the longstanding association of the business community with the premier financial institutions and discussed about the state of businesses in the UT since August followed by COVID-19 induced lockdowns.
Stressing upon the need to rehabilitate ailing businesses through sustainable and economically viable initiatives, the delegates requested the CMD to consider inclusion of small traders, who don’t possess GST registration, in the GECL scheme to revive their businesses affected by the ongoing pandemic.
Giving a patient hearing to the delegation, the CMD pledged the bank’s support to the business community and assured them that all the issues concerning the community shall be addressed within the framework of bank’s operations while complying with the regulatory guidelines.
“As the flagship financial institution of the region, we are committed to support our customers and people at large in these critical times. The GECL scheme has been rolled out and we have already disbursed over Rs 1100 crore to the eligible borrowers strictly as per the regulatory guidelines”, the CMD asserted.
“However, to include other businesses who did not qualify under GECL, the bank has come up with two specialised products titled ‘J&K Bank Business Support Loan Scheme 2019-20’ and ‘J&K Bank Business Support Loan Scheme 2019-20 for Hotels and Guest Houses”, he said.
Regarding the concerns of delegation about branches shying away from One Time Settlements (OTS), the CMD assured them that the bank would look into the matter and assured them full support from the bank within the regulatory guidelines.
Furthermore, the delegation also requested for establishing more financial touch points like Automated Teller Machines (ATM) and Cash Deposit Machines (CDM) at prominent places of various districts in order to further facilitate the people of these areas regarding cash withdrawal and deposits.