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| Citizen Forum criticizes Jammu Bankers | | |  Early Times Report
Jammu, Mar 23: Citizen's Forum has criticized the Bankers, who are allegedly not helping the small scale industries and small businesses.
President R K Chadha requested the Prime Minister Narendra Modi and Lt. Governor G C Murmu to make bankers in Jammu to adhere to the circulars of RBI to help small businesses and MSME in providing loans to tide over the almost closure of business in the J&K UT.
"First 90 days extension of loan payment last year, then RBI instructions to give one years rehabilitation program and finally under these prevalent COVID-19 conditions banks have been instructed to give loans to survive the onslaught of the continuous adverse conditions of J&K UT, they are either refusing or selective in issuing the loans. A ready excuse " No instructions from our Head Office", he said.
Chadha said RBI has come out with one year term for NPA declaration of bad loans keeping in view that nothing tangible financial improvement is going happen, then why not allow one years moratorium period for small businesses and MSME who are paying interest and loan installments from their savings ( Fixed Deposits ) with Banks. |
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