Traders’ delegations call on J&K Bank CMD

Two delegations from Kashmir Traders and Manufacturers Federation (KTMF) called on J&K Bank Chairman and Managing Director (CMD) Rajesh Kumar Chhibber here at the corporate headquarters of the bank and lauded the bank’s efforts in securing the recent rehabilitation package from the RBI for the borrowers, who suffered during the recent disturbances in the UT of Jammu and Kashmir. Thedelegations also discussed various issues concerning the business community, putting forth valuable suggestions and significant feedback.

The first delegation was headed by Bashir Ahmad Rather while as the second one was led by Mohammad Sadiq Baqal. The two delegations interacted with the CMD in separate back to back meetings in presence of the bank’s Executive President P K Tickoo, Presidents Arun Gandotra, Ghulam Nabi Teli and Sunil Gupta, vice-president Nissar Ahmad Zargar and Special Secretary to the CMD Karanjit Singh.

Welcoming the delegations, the CMD recognised the importance of direct feedback from all levels and highlighted the interdependent nature of the relationship between traders and the bank. “There lies a joint responsibility on both traders and financial institutions to work for the mutual development and preserve goodwill through proper utilization of loan funds”, the CMD said.

Assuring the delegations that the management was committed to redress all grievances, the CMD responded to the queries raised by them and asserted that the bank was committed to pass-on maximum possible benefits to the disturbance hit borrowers of J&K through the recently announced rehabilitation package. “We have already taken up the matter through JKSLBC withthe Reserve Bank of India and J&K Government regarding inclusion of large borrowers in the rehabilitation package so that the relief may also be extended to them.”, he said.

Reiterating that the bank has strong fundamentals and bright future, the CMD said that the bank remained committed to dispense world-class customer service through establishment of financial outlets, providing hassle-free credit facilities and ensuring business continuity.

We are also ensuring expeditious disposal of insurance claims and already have an agreement with two insurance companies so that our customers have a choice and are provided products with competitive pricing and features.

Earlier, expressing gratitude towards the management for facilitating frequent interactions with members of the trade bodies resulting in strengthening of the relationship with the bank, the delegations hailed J&K Bank’s contribution in the socio-economic development of the region and requested the CMD to conduct awareness programs regarding the rehabilitation package and other related schemes. They also requested the senior management team of the bank to consider passing-on concessions in rentals of digital products like Point of Sale (POS) Terminals and provide relaxation in collateral norms for various loans and advances.