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| BBIA Interacts with Chairman J&K Bank | | | Early Times Report
Jammu, Oct 17: A delegation of Bari Brahmana Industries Association (BBIA) today called on Chairman J&K Bank.
According to press release the delegation led by Lalit Mahajan, President, along with Rahul Bansal Sr. Vice President, Ajay Langer General Secretary, Viraaj Malhotra Secretary/Treasurer interacted with Parvez Ahmad, Chairman & CEO, J&K Bank Ltd.
While welcoming Parvez Ahmad, on his appointment as Chairman & CEO, J&K Bank Ltd, Mahajan highlighted the various issues related to the Industrial Sector which occurred due to Kamir Unrest from last 100 Days.
The delegation demanded waiving of Bank Interest on the Working Capital and Term Loans form 01-07-2016 to 31-12-2016 with the concessional rate of Interest from 01-01-2017 for next one year. Deferment of Installments of Term Loans which are payable up to 31-3-2017 with the rescheduling of Installments afterward.
Exemption to the Industrial Sector of J & K from the preview of NPA in respect of Loans from the J&K Bank. ort Term Soft/ Interest Free Loans to be provided by Bank to the Industrial Sector as Maximum Industrial Units are facing Financial Crunch due to Complete Stoppage of Financial Transitions across the State.
Immediate enhancement of 25% in the Working Capital Limits of the Industrial Units by Bank with same Collateral Security. To provide Soft Loan against the already sanctioned claims of Industrial Units by State/Central Govt. in respect of Capital Investment Subsidy & Interest Subsidy.
Enhancement of Loan sanctioning Powers at Branch Manager Level for Industrial Finance Branch I/C Bari Brahmana from 20 Lacs to 100 Lacs with the time bound clearance of files from Corporate Office.
Online communication to Industrial Associations in respect of Circulars/Notifications/Guidelines issued by Bank for Industrial Sector from time to time. The chaiman gave gave his patient hearing in respect of the issues raised by the BBIA & assured the delegation to resolve the issues on priority basis. |
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