KCCI discusses OTS scheme with new J&K Bank MD, seeks business-friendly implementation

Srinagar, Jan 7: The Kashmir Chamber of Commerce & Industry (KCCI) delegation met with Jammu & Kashmir Bank's newly appointed MD/CEO, Amitava Chatterjee, at the bank's corporate headquarters in Srinagar.

Led by Senior Vice President Ashaq Hussain Shangloo, the KCCI team, including Secretary General Faiz Bakshi and Past President Mushtaq Ahmad Wani, congratulated Chatterjee on his appointment and pledged support for the bank's developmental initiatives in the region.

During the meeting, KCCI highlighted the bank's pivotal role in the region's economic growth, noting that its 840 branches command over 90% of the banking share across Jammu, Kashmir, and Ladakh. The delegation discussed how businesses demonstrated resilience despite facing multiple challenges, including the devastating floods of 2014 and disruptions during 2008, 2010, 2016, and the COVID-19 pandemic.

The chamber leaders drew attention to the bank's recently announced One Time Settlement (OTS) scheme, suggesting modifications to benefit both the bank and borrowers. They also noted the significant progress in SGDP

Responding positively to KCCI's suggestions, Chatterjee assured the delegation of serious consideration toward measures promoting accelerated business growth, banking services, and  SGDP development. The meeting concluded with KCCI pledging close collaboration with the bank for business promotion and growth in the region.