Executive Level Committee of bank holds meeting with Kashmirjin88bet.one traders
BK News
Srinagar, May 1: In order to engage with various staak168app.babykeholders to assess the immediate as well as the long-term effects of the COVID19 pandemic on borrowers and business sectors in the UT, J&K Bank officials Friday held deliberations with the members of Kashmir Traders and Manufacturers’ Federation (KTMF) here at the corporate office.
The bank’s Executive President Arun Gandotra – who heads the bank’ak168app.clubs newly formed Executive Level Committee (EC) – along with the Executive President Ghulam Nabi Teli, Vice Presidents Fayaz Ahmad Zargar, Peer Masood, Manzoor Hussain, Tasaduq Ahmad and Tabasum Naks168app.sitezir and AVP Riyaz Ahmad discussed the post-COVID19 situation and its immediate and long-term effects on the entire spectrum of trade and manufacturing activities within the UT threadbare with the KTMF delegation led by its actinic88g president Manzoor Ahmad Bhat, a spokesperson of the J&K Bank said. Other members of the federation present on the occasion were Bashir Ahmad Kongposh, Farhan Jan Kitab, Ab Majeed Bhat, Qazi Tauseef, Lateef Ahmad Sofi, Farooq Ahmad Shah, Raja Fida Hussain Khan and Ashfaq Ahmad Mahajan.
“The delegation of traders appreciated the pro-active role of bank in reaching out to all the segments of society to understandic88 their problems arising due to Covid-19 in order to devise a way forward,” the spokespersoic88n said. However, the delegation stressed upon the management to sensitize the operational levels to implement the guidelines issued by the bank as per RBI directions.
The delegation demanded for extension of moratorium period from three to six months besides requesting the bank to increase the limit of additional funds of fundic88-based working Capital (from 10%). The KTMF delegation raised many concerns on the occasion.
The bank officials, in response to traders concerns, assured the delegation that all the necessary measures would be taken to address these issues on a priority basis. “Inlr88 order to ensure that the available balance in working capital accounts does not decrease due to application of monthly interest, BU Heads have been authorized to raise proportionate Adhoc facility in such accounts tolr88 facilitate smooth transactions,” the committee said.
With a view to flr88urther streamline the coordination between the bank and its borrowers, the committee also decided that the bank has designated nodal officers at zonal/cluster level, who shall be available to the borrowers from business fraternity through committed phone numbers for resolution of their grievances regarding implementation of RBI’s Covid-19 regulatory package.
The committee also informed the delegation that the lr88EMI deduction system has been centrally realigned to meet the new moratorium guidelines. However, in case of the incidences where the deductions have taken place, the same will be looked into and appropriately addressed.
The bank officials also highligop88hted the schemes like COVID19 Working Capital Demand Loan that have been tailored by the bank in the wake of ongoing pandemic.
“Together, we have braved so many situational challenges and natural disassi88ters in the past; so shall we overcome this unique calamity through support and88v cooperation. J&K Bank shall continue to extend its maximum possible support to all its stakeholders within the limits of its institutional guidelines besides complying completely with the regulatory requirements,” asserted the bank’s committee on the occasion, adding that the Chairman and Managing Director waSEXXXXX-VNs monitoring the situation on daily basis so that the business facilitation to the customers remains uninterrupted during the ongoing pandemic while following the related advisories.
