KCCI sets the record straight: Disassociates itself from allegations against J&K Bank

Srinagar, Nov 6: The Kashmir Chamber of Commerce & Industry (KCCI) has issued a strong denial against recent social media posts that have included the organisation’s name in allegations against the management of Jammu & Kashmir Bank.

The Kashmir Chamber of Commerce & Industry ( KCCI) is aghast over some social media posts being circulated by some vested interests mentioning the name of the KCCI about the performance of the Management of Jammu & Kashmir Bank. It is unethical to include the name of KCCI in their posts in order to malign the Top Bank Management. This is unacceptable by any moral standards. In case some people feel aggrieved with the Bank Management they should openly express themselves instead of hiding behind fake social media accounts. The KCCI issued public statements whenever it takes up any issue relating to the public in general and businesses in particular, a statement said.

“A social media post mentioning KCCI having complained against MD/CEO Jammu & Kashmir Bank to the Chief Minister, Mr. Omar Abdullah, during its recent meeting held at Civil Secretariat is absolutely baseless. In fact KCCI while seeking announcement of a Special OTS Scheme without capping and restriction of tenure, in accordance with the MSME Norms, appreciated J&K Bank’s growth & performance during past few years and strongly advocated that the fruit of growth in Bank’s profitability should be shared with suffering account holders whose accounts had become NPA’s due to circumstances beyond their control viz 2014 -floods, 2016- turmoil, Covid-19, events of 2019 etc.”

The KCCI stands on stand and demands that the Bank immediately stop publishing names of NPA’s, serving possession notices and e/auctioning of the mortgage property under the SARFESI Act. The KCCI once again strongly denounces social media posts which link its name with deliberations based on baseless information, the statement said.