KCCI demands OTS, revival package to rescue tourism, allied sectors

Srinagar, Sep 2: The Kashmir Chamber of Commerce and Industry (KCCI) today called on the top management of J&K Bank, pressing for a comprehensive revival package for the tourism and allied sectors, which have been severely hit in the aftermath of the Pahalgam attack.

The delegation was led by KCCI President Javid Ahmad Tenga and Senior Vice President Ashiq Hussain Shangloo. From J&K Bank, the meeting was attended by Sudhir Gupta, Executive Director; Shabir Ahmad, GM IAPM; and Rajesh Tikoo, GM CIBF.

KCCI representatives highlighted the financial distress faced by hoteliers, houseboat owners, transporters, traders, artisans, and others linked with the tourism industry. They urged the Bank to roll out a tailored revival and rehabilitation package and also pressed for a new One-Time Settlement (OTS) scheme to provide relief to stressed borrowers so they can revive their businesses.

The J&K Bank management assured the delegation that the concerns were being treated with priority and informed that a suitable package is being finalised and would be announced within a week.

Expressing satisfaction, the KCCI lauded the Bank’s positive response and voiced hope that the measures will bring much-needed respite to thousands of families dependent on Jammu and Kashmir’s tourism economy.