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| CCI demands amendment in NPA Act | | | Early Times Report
Jammu, Sept 14: President Chamber of Commerce & Industry (CCI) Y.V.Sharma has brought into the notice of Regional Director Reserve Bank of India Jammu Arnal Roy that due to prevalent conditions in Kashmir Valley for the last 3 months, the industrial units and the Trading Community of Jammu has suffered tremendous loss due to which their bank accounts are not functioning properly. As per the present RBI guidelines Sharma said the accounts are treated as SMA after 30 days and NPA after 90 days. He impressed upon the regional Director that keeping in view the present conditions in the valley the duration for making the accounts as NPA may be increased form 90 days to180 days. This extension of period will facilitate the unit holders to tide over the present adverse conditions through which their business is passing at present.
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