CCIK hails J&K Bank for extension of special OTS deadline

Srinagar, July 3: The Chamber of Commerce and Industry Kashmir (CCIK) has welcomed the decision of Jammu and Kashmir Bank to extend the repayment deadline under its Special One-Time Settlement (OTS) Scheme by two months — now valid until September 1, 2025.

In a statement issued on Wednesday, CCIK President Tariq Ghani appreciated the responsiveness of J&K Bank, particularly the leadership of Managing Director and CEO Amitava Chatterjee, for "understanding the ground realities faced by business owners and taking timely action in their support."

Ghani said the extension offers much-needed relief to the business community, especially in light of recent economic setbacks. “The business fraternity is still recovering from the disruptions caused by recent events, including the April 22 incident in Pahalgam, which severely impacted the tourism and hospitality sectors,” he noted.

He also expressed his gratitude to Lieutenant Governor Manoj Sinha, the Chief Secretary, and other senior government officials who played a role in facilitating the extension. “Such measures go a long way in restoring confidence among small and medium business owners and preventing further financial stress,” Ghani added.

He said the timely decision has been received with great appreciation by entrepreneurs across Jammu and Kashmir, particularly those engaged in hospitality, retail, and services. “The business community is highly obliged to the J&K Bank authorities for this vital relief, which also benefits the common people of the Union Territory.”