Excelsior Correspondent
REASI, Apr 27: Chairman and Managing Director (CMD) of J&K Bank Rajesh Kumar Chhibber today said that J&K Bank will stand with business community in all eventualities as he is very much aware of the fact that Tourism Sector in general and Hotels in Katra and other tourist spots of J&K in particular were and are worst sufferer due to earlier and present COVID waves.
“J&K Bank will stand with business community and would provide all help which it could to save the business community in general and Tourism and Hotel Sector in particular to bear losses,” he said while speaking in a programme organized by Hotel & Restaurant Association, Katra (HRAK) and Federation of Hotels, Restaurants, Industries and Commerce of Jammu Region (FHRICJR).
Chhibber said keeping that aspect in mind the Bank earlier came up with guaranteed Emergency Credit Line Scheme (GECL) for Hospitality, Travel & Tourism and Leisure and Sporting sectors wherein maximum loan which was 20% of total out standing loans as on 29th February 2020 in GECL-I and GECL-2 schemes, is further increased to 40% in GECL-3 of total out standing loan with no fresh co-lateral security, no processing fee and pre payment penalty and is re-payable in 48 equated monthly installments after initial moratorium period of 24 months.
President HRAK & FHRICJR Rakesh Wazir, Zonal Head J&K Bank Anokh Singh, Cluster Head Sanjeev Sharma, president Municipal Committee Katra Bimal Indu, former president HRAK Shiv Kumar Sharma, Chairman Block Development Council Katra Sham Lal, and Chairman Block Development Council Panthel Chander Mohan were prominently present in the meeting.
Wazir during discussion drew the attention of J&K Bank CMD towards the fact that all the schemes given by Reserve Bank of India only extended moratorium of term loans in light of COVID out break but need of the hour is waiver of interest of the COVID period besides increasing in moratorium period of the loans and that should be done.
Bimal Indu while speaking on the occasion raised the issue of non-financing of loans in the main market (Bazar) of Katra on the pretext of it being Abadi Deh in Revenue records and explained that in other parts of Union Territory loaning on them is being done and requested that it should be started in Katra as well.
Chhibber listened each stake holder patiently and assured sympathetic consideration to each and every point which come under his powers.
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