JD (U) seeks general amnesty for bank borrowers

Srinagar, Aug 10: G M Shaheen, President of the Jammu and Kashmir unit of JD(U) has demanded a general amnesty for bank borrowers in the region.

According to a press release, this move aims to provide relief to individuals and businesses struggling to repay loans due to various economic challenges.

Shaheen emphasised that the amnesty would help alleviate financial burdens and support borrowers affected by circumstances beyond their control. He cited economic downturns, and regional instability as factors contributing to repayment difficulties.

The demand for general amnesty includes waiver of interest and penalties, reduction or restructuring of loan amounts extension of repayment periods

Shaheen urged the Central Government and financial institutions to consider this demand, stressing its potential to stimulate economic growth and stabilize the financial situation in Jammu and Kashmir.