Focus on empowering Kashmir’s business sector
SRINAGAR: Kashmir Traders & Manufacturers Federation (KTMF) on Thursday held a comprehensive and high-level interaction with the senior management of Axis Bank here at Srinagar. The meeting witnessed participation from KTMF’s senior leadership, district presidents and representatives of various trade bodies from across the Valley.
The Axis Bank delegation comprised of Mr Vijay Shetty President Commercial Banking Coverage Group, Mr Sunil Khatri Senior Vice President II Working Capital Credit, Mr. Vineet Miglani Senior Vice President II Risk Head, Mr. Kanwalbir Singh Senior Vice President Circle Head, Mr. Aadil Shah Vice President & Cluster Head and Mr. Gowher Sheikh, Vice President & Cluster Head.
A threadbare and result-oriented discussion was held on key issues concerning lending practices, access to credit, working capital requirements and the overall business ecosystem in Jammu & Kashmir. Deliberations also focused on avenues for business expansion and strengthening the role of banking institutions in supporting the trading and manufacturing sectors.
Speaking on the occasion, KTMF President Mohammad Yaseen Khan emphasized the critical role of banks in revitalizing the business landscape of the Valley. He highlighted the need for a more responsive and flexible banking approach, particularly in facilitating credit to small and medium enterprises which form the backbone of the local economy. He urged Axis Bank to adopt trader friendly policies and ensure smoother financial accessibility for the business community.
Speakers at the meeting underscored the unparalleled strength and grassroots reach of KTMF, highlighting its wide presence across all districts and tehsils of the Valley. It was emphasized that KTMF stands as the largest and most representative business body of Jammu & Kashmir, truly reflecting the aspirations and concerns of the trading and manufacturing community at every level. The leadership reiterated that this strong organizational base enables KTMF to effectively channel the voice of the business fraternity and engage meaningfully with institutions like Axis Bank for inclusive economic growth.
Several prominent trade leaders and representatives actively participated in the discussion and shared ground level insights, challenges and suggestions. Those who spoke during the meeting included Bashir Ahmad Rather, Qazi Tauseef, Din Mohammad Mattoo, Fayaz Ahmad Ahangar, Ajaz Ahmad Bhat, Mohammad Ismail Beigh, President Jamia Traders Federation representing Downtown Srinagar Javaid Ahmad Zargar, President Baramulla Traders Federation Er. Tariq Ahmad Mugloo, Anantnag Traders Federation representative Riyaz Ahmad Bhat, President Pulwama Traders Federation Altaf Ahmad Kar, General Secretary Pulwama Traders Federation Rouf Reshie, President Kangan Traders Federation Umar Farooq, Handwara Traders Federation representative Ghulam Mohammad Bhat, General Secretary Bandipora Traders Federation Mehrajuddin Ahmad, and Senior Member Bandipora Traders Federation Ajaz Ahmad Baba.
The participants raised various concerns related to collateral requirements, credit flow bottlenecks and the need for customized financial products suited to the unique business environment of the region. They also stressed on building a long term partnership between the banking sector and the trading fraternity to ensure sustainable economic growth.
Senior business leader and Prominent hotelier of Jammu & Kashmir Mushtaq Ahmad Chaya and Senior Functionary of Kashmir Chamber of Commerce and Industry Aashiq Shangloo also graced the occasion.
Responding to the concerns, the Axis Bank management acknowledged the unique challenges faced by the business community in the region and reiterated their commitment to addressing these issues in a structured and time bound manner. The delegation emphasized that the bank is actively looking to enhance lending exposure in Jammu & Kashmir and is committed to building long-term partnerships with traders and manufacturers. They assured that efforts will be made to introduce more customized financial solutions, improve credit accessibility and streamline processes to support business growth. The meeting concluded on a positive note with both sides agreeing to strengthen coordination and explore new opportunities for collaboration aimed at fostering business growth and economic development in Jammu & Kashmir.