STATE TIMES NEWS
JAMMU: The Chamber of Commerce and Industry (CCI) Jammu on Thursday met the Managing Director and Chief Executive Officer (MD & CEO) of J&K Bank Ltd and appealed to reintroduce one-time settlement scheme for NPAs through which J&K Bank provided a golden chance to aforesaid account holders having outstanding between Rs. 15 lakh and 500 lakh as on September 30, 2021.
In this regard, the CCI delegation led by its President Arun Gupta and comprising Rajeev Gupta, Jr. Vice President, Gaurav Gupta, Secretary General, Rajesh Gupta, Secretary and Rajesh Gupta, Treasurer called on the Managing Director and CEO J&K Bank Ltd and submitted a charter of demands highlighting the issues and demands of the industrialists and traders of the region.
The demands raised by the CCI Jammu included extension of Golden Opportunity provided by J&K Bank for One Time Settlement Scheme for NPAs in which J&K Bank has given a chance to the NPA account holders whose outstanding is Rs. 15 lakh to 500 lakh as on 30 September 2021, because very few people have availed the opportunity due to COVID-19 pandemic, those parties which have been issued with notices under SARFAESI Act should also be given one last opportunity instead of auction of their mortgaged property on humanitarian grounds, there are few industrialists who also wanted to settle their accounts as per “Golden Opportunity” provided by the Bank earlier for one time settlement as they have suffered huge losses during Covid-19 period and were unable to continue with the present limit and therefore they wanted the same OTS be provided for settlement of their accounts upto financial year 2021-2022, the rate of interest on advances by J&K Bank is higher than any national/ private banks therefore it is requested to reduce the interest rates so that more and more traders/industrialists can come under the ambit of J&K Bank and there is need to grow the network of branches of the bank so that traders and industrialists can avail benefits from the J&K Bank as the present status of branches is inadequate. He also requested the CEO, to consider the demand about the processing fee / Renewal charges that it should be at par with the other banks. Besides, Arun Gupta requested the MD to include the stakeholders from apex body of trade and industrialist in the Board of Directors list. Upon this, the CEO J&K Bank gave a very positive response and assured that all the demands will be put forward for early consideration and it is likely that many among the same will be acceded sooner than later.
