The Sub-Committee of J&K State Level Bankers Committee SLBC today recommended a further two-year extension in special package of concessions/relaxations to trade and industry in J&K. The period suggested is up to March 31, 2016.

The sub-committee made its recommendations to Reserve Bank of India after thorough discussions in a meeting held here at the J&K Bank Corporate Headquarters. Parvez Ahmed, Executive President, J& K Bank presided over the meeting.

The meeting was attended by S K Bhat, President SLBC J&K Bank, Mohammad Amin, President (A&AP) J&K Bank and senior officers from RBI, SBI, PNB, UCO Bank, IDBI, Finance and Industries & Commerce Department, J&K Government, President FCIK and Senior Vice President KCCI.

During the meeting the representatives of trade & industry associations referred to multiple difficulties faced by trade & industry in the state and strongly pleaded for the extension of concession/relaxation by banks to trade & industry for another two years.

Consequent upon the deliberations, the Sub-Committee unanimously decided to recommend to Reserve Bank of India that special package of concessions/relaxations to trade and industry in J&K be extended by a further period of two years.

Baramulla awareness camp
Meanwhile, J&K Bank conducted an awareness camp at Darpora, Delina in Baramulla. The camp was organised by the bank’s business unit at Delina in collaboration with FLCC centre Baramulla.
The camp was attended by a good gathering of people from village Darpora, Delina and its adjacent areas which mostly included farmers, shopkeepers, employees, contractors and educated unemployed youth.

Speaking on the occasion, Facilitator FLCC Mohammad Sultan Dar informed the audience about savings, financial planning, budgeting, essential and non essential expenses.

He educated the participants about the advantages of saving with banks, concept of Business Correspondents, Khidmat centres and different types of borrowings.

The facilitator also deliberated upon Kisan Credit Card scheme, Education loan scheme and various income generating loan products of banks for awareness of the audience.

Head B.U Delina spoke about various savings products of the Bank. He also appraised the audience about various subsidy linked plans of state govt. and central Govt. being financed by the Bank besides transport loan, contractor finance and retail trade.

Certain queries were raised regarding various schemes which were duly replied by the speakers on spot.