SRINAGAR: Jammu and Kashmir Bank on Thursday launched a “J&K Sahafat Finance Scheme” for journalists, editors, employees of newspapers, and media houses. The scheme which will give a maximum amount of Rs three lakh would help journalists to buy equipments without any delay and additional charges.
J&K Chairman and CEO Parvez Ahmed, during a launch event at its headquarters, said that the scheme was conceptualised after keeping the requirements of journalists in mind who have been at the forefront for maximising the efforts of the banks, an official handout read.
“Many of our bright minds in media have earned global acclaim. So, it is as imperative for us to do something for them. This is the beginning, make the scheme successful and more will follow,” said the bank chairman.
“Understanding and realising the uninterrupted contribution made by local media persons – journalists, reporters, cameramen, printers, publishers in highlighting the problems and issues faced by the people of the state especially during past few decades by risking their lives; J&K Bank has decided to recognise media as a viable sector,” Parvez said.
He added the financial empowerment by way of easy loan schemes would become an enabler for media persons to undertake it as a full time profession with decent economic returns.
“We understand your difficulty of not being compensated proportionate to your hard work, but this kind of easy access to finance, we hope, will enable you to harness your talent and enhance the monetary returns on your work,” he said.
Tailored for media persons, Vice-president Rakesh Gandotra gave a comprehensive account of the product. He said, “This will provide easy and hassle-free finance to media persons for personal and professional needs on urgent basis.”
The maximum credit of Rs 3 lacs repayable in 60 EMI’s shall be provided in the form of term loan for purchase of cameras, tablets, laptops, etc. and revolving cash-credit facility to meet routine money needs, Rakesh said. With ‘minimum rate of interest’, the scheme also offers an insurance cover of Rs 4 Lacs against an annual premium of Rs 342 to be borne by the borrower, he added.