24th March 2011
Jammu
SLBC recommends extension of concessions to trade & industry for 2 more years
A meeting of the Sub-Committee of J&K State Level Bankers' Committee on Relaxations/ Concessions to Trade and Industry in J&K State was held today at J&K Bank, Zonal office, Rail Head Complex, Jammu.
A K Mehta, Executive Director/ COO of J&K Bank (Convenor Bank) presided over the meeting to consider the extension or otherwise in the period of package of Concessions/ Relaxations to Trade and Industry in the State, which is due to expire on 31st March, 2011.
Consequent upon threadbare deliberations conducted, the Sub-Committee unanimously decided to recommend to Reserve Bank of India that special package of concessions/ relaxations to Trade & Industry in the State be extended by a further period of two years.
The meeting was attended by Executive President, J&K Bank, Ajit Singh, Presidents Tafazal Hussain, G. M. Sahibzada and all other members of the Sub-Committee including Reserve Bank of India, SBI, PNB, UCO Bank, SIDBI, IDBI, President, Kashmir Chamber of Commerce & Industry, President, Jammu Chamber of Commerce & Industry, Chairman, Federation of Commerce & Industries Kashmir and Chairman, Federation of Industries, Jammu. Secretary, Industries & Commerce, J&K Government was represented by Director, Industries & Commerce, Jammu.
Earlier, the representatives of Trade & Industry strongly pleaded that the package of relaxations and concessions to Trade and Industry should be further extended for a longer period as it will take time for the industry and trade to come out of the impact faced by it in the past 2 years due to disturbed conditions. They also strongly impressed the need for further extension of the package and suggested that the existing package should be suitably reviewed and made relevant to the needs keeping in view of the ground situation. The representatives of Trade & Industry also pleaded that the package of relaxations/ concessions granted by Reserve Bank of India should be implemented in letter and spirit.
The Vice President, J&K SLBC thanked the members for their participation, involvement and concern for revival of trade and industry and assured them that the necessary recommendations to the concerned quarters would be made based on the suggestions made during the deliberations.
A K Mehta, Executive Director/ COO of J&K Bank (Convenor Bank) presided over the meeting to consider the extension or otherwise in the period of package of Concessions/ Relaxations to Trade and Industry in the State, which is due to expire on 31st March, 2011.
Consequent upon threadbare deliberations conducted, the Sub-Committee unanimously decided to recommend to Reserve Bank of India that special package of concessions/ relaxations to Trade & Industry in the State be extended by a further period of two years.
The meeting was attended by Executive President, J&K Bank, Ajit Singh, Presidents Tafazal Hussain, G. M. Sahibzada and all other members of the Sub-Committee including Reserve Bank of India, SBI, PNB, UCO Bank, SIDBI, IDBI, President, Kashmir Chamber of Commerce & Industry, President, Jammu Chamber of Commerce & Industry, Chairman, Federation of Commerce & Industries Kashmir and Chairman, Federation of Industries, Jammu. Secretary, Industries & Commerce, J&K Government was represented by Director, Industries & Commerce, Jammu.
Earlier, the representatives of Trade & Industry strongly pleaded that the package of relaxations and concessions to Trade and Industry should be further extended for a longer period as it will take time for the industry and trade to come out of the impact faced by it in the past 2 years due to disturbed conditions. They also strongly impressed the need for further extension of the package and suggested that the existing package should be suitably reviewed and made relevant to the needs keeping in view of the ground situation. The representatives of Trade & Industry also pleaded that the package of relaxations/ concessions granted by Reserve Bank of India should be implemented in letter and spirit.
The Vice President, J&K SLBC thanked the members for their participation, involvement and concern for revival of trade and industry and assured them that the necessary recommendations to the concerned quarters would be made based on the suggestions made during the deliberations.