‘J&K Bank leads in supporting entrepreneurs’
Katra, Feb 19: General Manager of Jammu and Kashmir Bank, Ashok Gupta, said the bank continues to play a leading role in supporting entrepreneurs and small businesses across the Union Territory by expanding credit outreach and offering customised financial solutions.
A statement said that Gupta was speaking during an interactive meeting with a delegation of the Chamber of Tourism Trade and Industry Katra (CTTIK) held at Katra. The meeting was attended by Zonal Manager Lalit Parkash, Cluster Manager Amit Balgotra and Branch Manager Samresh Salgotra.
The interaction focused on strengthening banking support for the tourism, trade and industry sectors of J&K, with particular emphasis on enhancing credit flow to micro and small enterprises. Gupta said J&K Bank remains at the forefront in extending finance under various government-sponsored schemes, including Mudra and YUVA loans.
He said that to give a strong boost to the economy of Jammu and Kashmir, the bank is proactively facilitating entrepreneurs, start-ups and existing business clients by offering need-based and tailor-made credit products. Gupta also highlighted the growing importance of J&K Bank’s credit cards and digital banking services, describing them as user-friendly tools that offer greater convenience, flexibility and improved financial management for business owners.
CTTIK president Raj Kumar Padha, accompanied by secretary Atul Sharma and other members of the delegation, appreciated the timely introduction of the Rehabilitation Package 2025 by J&K Bank for borrowers affected by last year’s disturbances. He said the package had provided much-needed relief to the business community during a difficult period.
However, Padha noted that the revival of tourism has been slower than anticipated and urged the bank to extend the Funded Interest Term Loan (FITL) facility for another six months to provide additional relief to tourism-related units. He also requested that an additional 15 per cent credit facility on existing term loans be considered, similar to the relief already extended to working capital and SOD accounts under the rehabilitation package.
The CTTIK delegation further suggested a flexible repayment structure for tourism-based units, citing the seasonal nature of the industry. They also sought concessional soft loans to meet cash flow requirements and need-based credit facilities aligned with the operational realities of local entrepreneurs.
Responding to the issues raised, Gupta gave a patient hearing to the delegation and assured them of the bank’s continued cooperation. He reiterated J&K Bank’s commitment to the growth of the tourism and MSME sectors and said the bank would continue to work closely with stakeholders to strengthen the local economy.
