Srinagar: Kashmir Traders and Manufacturers Federation (KTMF)Wednesday said that slashing interest rates on all commercial loans by 0.25 per cent by Jammu and Kashmir Bank is not enough while keeping the condition and situation of Kashmir Valley in view the Bank must slash this rate by up to 3 per cent.
Pertinently, Jammu and Kashmir Bank slashed interest rates on all commercial loans by upto 0.25 percent last week.
During a meeting of KTMF, president Muhamamd Sadiq Baqal said that the Jammu and Kashmir Bank never kept in mind the losses and suffering of the business community Kashmir Valley. The Bank never understood the
problems and compulsions of business fraternity. The decision to slash interest rate by mere 0.25 percent will provide no relief to the business community, Baqal said.
Baqal has asked Jammu and Kashmir Bank to publish the names of those people on Internet who were account holders in the bank and who died without letting their family members know about the details of their bank accounts. Jammu and Kashmir Bank must follow the norms as laid down by Reserve Bank of India and should publish the names of slain account holders on the internet or news papers so that their family members can collect that money from the Bank, he said.
He reiterated that Jammu and Kashmir Bank should come out with a white paper to clear all doubts created and controversy raised by some media reports about the banks asset quality.
Follow this link to join our WhatsApp group: Join Now
Be Part of Quality Journalism |
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast. |
| ACT NOW |
| MONTHLY | Rs 100 |  |
| YEARLY | Rs 1000 | |
| LIFETIME | Rs 10000 | |
