President, Kashmir Chamber of Commerce and Industry (KCCI), Mr. Javid Ahmad Tenga, met with the Managing Director and Chief Executive Officer of Jammu and Kashmir Bank, Mr. Baldev Prakash, to discuss key banking-related issues faced by the business community.
During the meeting, the President of KCCI raised the urgent need for the announcement of a Special One-Time Settlement (OTS) scheme for borrowers. Mr 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.