Srinagar, April 23: The Kashmir Traders and Manufacturers Federation on Tuesday held an interaction with senior management of Axis Bank in Srinagar, focusing on improving access to credit and strengthening financial support for the business sector in Jammu and Kashmir.
In a press statement issued to Ziraat Times, the federation said the meeting brought together KTMF’s senior leadership, district presidents, and representatives of various trade bodies from across the Valley, alongside a visiting Axis Bank delegation comprising Vijay Shetty, President (Commercial Banking Coverage Group), Sunil Khatri (Senior Vice President, Working Capital Credit), Vineet Miglani (Senior Vice President, Risk Head), Kanwalbir Singh (Senior Vice President, Circle Head), Aadil Shah (Vice President and Cluster Head), and Gowher Sheikh (Vice President and Cluster Head).
Discussions during the meeting centred on key issues affecting the business ecosystem, including lending practices, access to finance, working capital requirements, and opportunities for business expansion. Participants engaged in detailed deliberations on the role of banks in supporting the trading and manufacturing sectors in the region.
KTMF President Mohammad Yaseen Khan stressed the need for a more responsive and flexible banking approach, particularly for small and medium enterprises (SMEs). “Banks play a crucial role in revitalising the Valley’s economy. There is a need for trader-friendly policies and smoother access to credit, especially for SMEs that form the backbone of our economy,” he said.
Speakers highlighted KTMF’s extensive grassroots presence across districts and tehsils, describing it as one of the most representative business bodies in Jammu and Kashmir. They said this wide network enables the federation to effectively articulate the concerns of the business community and engage constructively with financial institutions.
Several trade leaders shared ground-level challenges and suggestions during the interaction. Participants raised concerns regarding stringent collateral requirements, bottlenecks in credit flow, and the lack of customised financial products suited to the region’s unique economic conditions. They also emphasised the importance of building long-term partnerships between banks and the trading community to ensure sustainable growth.
Prominent business figures, including hotelier Mushtaq Ahmad Chaya and senior functionary of the Kashmir Chamber of Commerce and Industry Aashiq Shangloo, were also present at the meeting.
Responding to the concerns, Axis Bank officials acknowledged the unique challenges faced by businesses in Jammu and Kashmir and assured that efforts would be made to address them in a structured and time-bound manner. The delegation said the bank is keen to enhance its lending exposure in the region and strengthen long-term engagement with traders and manufacturers.
They also indicated that the bank would explore introducing more customised financial solutions, improving credit accessibility, and streamlining processes to better support business growth.
The meeting concluded on a positive note, with both sides agreeing to strengthen coordination and explore collaborative opportunities aimed at boosting economic activity and supporting the growth of the business sector in Jammu and Kashmir.
