Trade Bodies’ Delegation Calls Upon J&K Bank CMD

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SRINAGAR – A delegation comprising of senior functionaries from prominent trade bodies and associations of the valley Friday called upon the J&K Bank Chairman and Managing Director R K Chhibber here at the Corporate Head­quarters of the bank.

The visiting delegation consisted of representatives from Kashmir Cham­ber of Commerce & Industry, Kashmir Traders and Manufacturers Federation, Kashmir Economic Alliance, Kashmir Carpet Manufacturing Association, Kashmir Hotel And Restaurant Own­ers Federation, The Jammu & Kashmir Hoteliers Club, J&K Tourism Alliance, Associated Kashmir Tour Operators, Kashmir Industries Association Ran­greth, Kashmir Industrial Revival & De­velopment Forum, Private Schools As­sociation, PHD Chamber of Commerce & Industries Kashmir Chapter, Shahr e Khass Traders’ Association, Kashmir Chemists & Druggists Association, Ar­tisan Rehabilitation Forum, IGC Lassi­pora, Kashmir Youth Entrepreneurs Fo­rum and J&K Hajj & Umrah Association.

The CMD, who was flanked by his se­nior management team including Arun Gandotra (President CCB/CB, Credit), Chetan Paljore (President CBO/TMO/ IAPM), Ashraf Ali Malik (President Law & Chief CIV), Peer Masood Ahmad (Vice President CBO/TMO/ IAPM), Manzoor Hussain (Vice President CCB, CB), Ro­shan Khayal (Vice President Law) be­sides Special Secretary to CMD Karan­jit Singh, extended a warm welcome to the delegation. He assured all the functionaries of trade bodies that the Bank remained committed to extend all possible support for the businesses, betterment of the business community and the economy of the region at large. He appreciated and underlined the pro­found importance of the bond the bank shares with the people of the region.

Present on the occasion, President KCCI Sheikh Aashiq also highlighted the importance and the interdependence of business community and J&K Bank. He gave a detailed overview of the various problems faced by the business community and requested the bank’s leadership to come forward and help the business community to overcome the distressing situation they are beset with.

Other members of the delegation also spoke on the occasion. The issues and problems faced by the almost all the traders, businessmen and commercial bodies were discussed at length during the meeting. They also requested bank to take up with RBI the request already forwarded to them through UTLBC for modifications on the rehabilitation package.

After listening patiently to the issues and concerns raised by the members of the delegation, the CMD reiterated that the management of the bank was com­mitted to redress all the issues/prob­lems faced by the business community and will make every effort to support them within the regulatory framework of bank’s operations. He recalled the role played by the bank as the convener of UTLBC presided over by Chief Secre­tary B.V.R. Subrahmanyam wherein the regulating authorities were requested to extend the package benefits to the large borrowers also besides consid­eration of all standard accounts in the package, adding that the same request has been voiced again by the J&K Gov­ernment recently. The Chairman also highlighted the role played by Lt Gover­nor Girish Chandra Murmu in convey­ing the concerns of the business and economy to the regulator.

Speaking about the bank’s financial health, R K Chhibber said, “The bank is showing growth of around 15% both on liability as well as on asset side. Such sustainable growth is possible only with full support of the communities we are closely working with. At the same time it also signifies banks com­mitment towards the development / betterment of business community”, adding that the bank remains commit­ted to the economic development of the UT.

Regarding some operational issues raised by the members of delegation, the CMD issued directions to all the op­erative levels to facilitate and provide all the necessary support to business community.

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