KCCI president discusses special OTS scheme with CEO J&K Bank

Srinagar, Nov 21: President, Kashmir Chamber of Commerce and Industry (KCCI), Javid Ahmad Tenga, met with the Managing Director and Chief Executive Officer of Jammu and Kashmir Bank, Baldev Prakash, to discuss key banking-related issues faced by the business community.

As per the statement issued by chamber, during the meeting, the President of KCCI raised the urgent need for the announcement of a Special One-Time Settlement (OTS) scheme for borrowers. Tenga emphasised that the OTS scheme should be designed without restrictive conditions and must include a long-term repayment tenure to genuinely support the financial recovery of borrowers.

The MD/CEO of J&K Bank told the KCCI President that the bank is actively working on OTS scheme, signalling a positive step towards resolving long-standing issues. 

The meeting also included discussions on strategies to promote economic growth and enhance the synergy between the business community and the banking sector. President KCCI praised J&K Bank's growth trajectory and its commitment to the economic prosperity of Jammu and Kashmir. He reiterated KCCI’s dedication to working hand-in-hand with the bank to strengthen the region's economy.

"J&K Bank and KCCI, as two of the oldest institutions in the region, have consistently played a pivotal role in driving economic development. This partnership will continue to contribute to the prosperity of Jammu and Kashmir," said Tenga.