Areas of disagreement with JK Bank resolved: SERF

Areas of disagreement with JK Bank resolved: SERF

Srinagar: To discuss the relief and rehabilitation for the flood affected victims, State Economic Reconstruction Forum (SERF) Wednesday held a meeting with the JK Bank chairman Mushtaq Ahmad and Principal Secretary Finance Department BB Viyas.
SERF, which has earlier expressed its reservation to the credit cum relief package announced by the Bank that mainly includes loan restructuring and soft loans, in a statement said all the disagreements with the Bank were resolved.
“The package announced by the JK Bank was threadbare discussed at these meetings and the areas of disagreement were resolved,” the statement said, adding, “The management of the Bank has issued guidelines to the branch managers for the same.”
The statement said the meeting followed a series of meetings held earlier with the state government, chairman and officials of the Bank at different levels by SERF committees representing various sectors of economy to facilitate their rehabilitation and revival of economic activities immediately.
SERF also discussed the sufferings of small trading community who have suffered and lost their livelihood. SERF pleaded for providing immediate financial relief to these traders having turn over up to Rs 10 lakhs and enjoy no bank facilities so that they are in a position to revive their business which has suffered tremendous losses during the devastating floods.
The statement also said, “The Principal Secretary Finance agreed in principle to provide immediate relief to trading/business class in consultation with the representatives of SERF.”

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