KYEF welcomes J&K Bank’s OTS scheme for NPAs

Srinagar: Kashmir Youth Entrepreneurs Federation has welcomed the announcement of a special One Time Settlement (OTS) scheme for NPA account holders of the bank.

President KYEF, Babar Chowdhary in a statement said “ J&K Bank’s new scheme will ease out the difficulties of the business units who are under financial distress. We are hopeful that bank management will keep the present Covid conditions in consideration and give ample time for applications and repayments of OTS.”

The KYEF president urged the CEO & MD of J&K Bank Baldev Prakash to announce more customer-friendly schemes.

Baldev Prakash, managing director & CEO launched the J&K Bank’s Special One Time Settlement Scheme for NPAs accounts recently at the Bank’s corporate headquarters in Srinagar.

“The timely decision of special OTS launch by the Baldev Prakash, managing director and CEO of JK Bank will provide an opportunity to all business community members, transporters, hoteliers, industrialists to keep the business momentum going,” Babar Chowdhary said.

He further said that through this Special One Time Settlement Scheme (SOTS-2021), the bank provides a golden opportunity to all the eligible account holders to settle their accounts and avail the best possible concessions that can be offered.

KYEF president further said that J&K Bank being the premier bank of UT shall announce another special interest waiver for the hotels, restaurants, and café owners as they have been badly hit during the past many years.

“I believe Kashmir has huge potential for business, government and the bank should work out more opportunities and avenues for the local businessmen to avail these opportunities, so that they could tide over these depressing times,” he said.