FTII–Kashmir, J&K Bank discuss reforms to boost credit flow across key sectors
Srinagar, Dec 22: The Federation of Trade and Industry of India (FTII), Kashmir Chapter, held a one-to-one meeting with the top management of Jammu and Kashmir Bank at its corporate office in Srinagar, focusing on strengthening banking support for critical sectors such as education, horticulture, health, industry and automobile trade.
The meeting was chaired by the bank’s General Manager Rakesh Magotra and was attended by senior officers from both the bank and FTII’s Kashmir leadership.
As per the statement issued here, the meeting was held under the leadership of FTII National President Dr Sanjay Bansal, a member of the National Traders Welfare Board under the Ministry of Commerce and Industry, Government of India. The interaction saw detailed deliberations between J&K Bank’s senior management and FTII representatives, including its Kashmir Chapter president, general secretary and vice presidents representing education, health and horticulture sectors.
During the discussions, FTII highlighted the need for enhanced banking facilitation for the education sector, terming it the backbone of societal development. It was suggested that the existing cap on education loans be revised upward in view of rising academic costs and inflation, so that students are better supported in pursuing higher studies. The delegation also stressed the importance of creating sector-specific banking mechanisms to address the unique requirements of different economic verticals in Jammu and Kashmir.
A major focus of the meeting was the proposal to constitute dedicated sales and facilitation teams at the zonal level within the bank to cater to sectors such as education, horticulture, health and industry. These teams, it was suggested, should work through a fully digitalised system to ensure faster processing and simplification of loan cases, reducing delays and procedural hurdles for entrepreneurs and service providers.
The horticulture and agriculture sectors, which employ a large section of the population in Jammu and Kashmir, also came up for discussion.
The health sector was flagged as another priority area, with the suggestion that the bank designate specific nodal officers to oversee financial schemes and facilities extended to hospitals and healthcare institutions.
