Srinagar, Jan 11: The Kashmir Chamber of Commerce & Industry (KCC&I), President, Sheikh Ashiq Ahmad Tuesday stated that the business community of Kashmir was undergoing a period of unprecedented stress and turbulence and heading towards financial instability.
“The Special One Time Settlement Scheme 2021 announced by Baldev Prakash, Managing Director/CEO, The Jammu and Kashmir Bank Ltd declared on 10th of January, 2022 was a ray of hope for the business community,” he said in a statement.
While appreciating the efforts put in by Baldev Prakash for the said Special Scheme. However, at the same time as mentioned the Scheme is valid for 30 working days for which the sanction or otherwise will be conveyed within seven working days of the receipt of application with a maximum repayment period of six months. “The Kashmir Chamber of Commerce & Industry requested the Bank Authorities not to make the Special Scheme time bound and extend the repayment time of six months as the Covid restrictions started all over India that affects the business community directly.”
President KCC&I appealed to the business community to avail this Special One Time Settlement Scheme to settle their accounts and avail this opportunity to get benefitted.
“In this time of crisis, the government has also announced the appointment of Baldev Prakash as the Managing Director/CEO of the J&K Bank. We hope that under your dynamic leadership all the issues related to the business community are looked into and addressed at the earliest.”
The business community of Kashmir views the appointment as a positive development to augment the good work done by the management of the bank under the leadership of Baldev Prakash. Now that the Government would be announcing important fiscal interventions aimed at reviving the economy, the role of J&K Bank would be critical in effective implementation of any measure, he said.