PHDCCI Jammu Chairman-led delegation meets J&K Bank EP

9 August 2021

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Jammu, Aug 9: PHDCCI Jammu Delegation led by its Chiarman Rahul Sahai called on Arun Gandotra Executive President of J&K Bank. Mr Sahai discussed issues of members and suggested measures for the betterment of business fraternity at large.

In a statement issued to Ziraat Times, a spokesperson said that the issues discussed were –

Reaching to students for awareness about schemes regarding startups,
Designing special loans for skill education for students,
Doing more and more awareness programs regarding all the schemes for students, SMEs, traders, Opening new branches at upcoming industrial estates in zone A & B specially as per new industrial policy,
Tapping new customers who have current accounts in J&K Bank by having relaxed view as per covid circumstances because customers have to choose one bank after RBI’S order of closing current accounts in other banks,
Improving Mpay, Net banking services at par with private banks,
Improving account statements as imps recipient details are not shown in account statements,
Reward program for regular account holder by giving incentive as zero balance saving accounts, cash pickup etc,
Disparity of rate of interest between old and new customers, stressed on making a committee to ease managers for taking risks and coming in front for settling old issues and taking new accounts, renewal charges should not be charged from customers,
Repo rate is 4% interest rate should not exceed 6.5% for CC or term loans, highlights 37 cases forwarded by SIDCO of sick units for 100% finance as soft loan upto 2 cr for MSMEs.

Mr. Sahai also highlighted improving work culture in branches in terms of not harassing MSMEs, keeping a close watch on branches by constituting a committee and having a robust complaint redressal mechanism, the bank should have flexible OTS policy and also pending loan proposals should be expedited on priority.

Mr Sahai also highlighted that valuation of property done by the valuators are not upto the satisfaction of customers and it should be according to market rates because of this msme’s are facing problems in getting funds.

Sahai flagged very important point regarding Auto sector where as a wrong practice Auto dealers are not getting incentives but bank is giving incentive to sales man of a dealer which is a wrong practice and no other nationalized bank is doing it.

Kuldeep Gupta Co Chair PHDCCI highlighted issues pertaining to negligence by bank officials in two cases and up laud Executive President , EP assured early redressal.

Arun Gandotra Executive President discussed all the issues in detail and assured PHDCCI delegation that all the issues will be resolved in a time bound manner , Gandotra hailed PHDCCI for very valid suggestions for the betterment of the bank, also assured that the tag of J&K Bank as Apna Bank will be maintained in letter and spirit.

Other higher officials of J&K Bank present were Anil Deep Mehta President , Syed Rais Maqbool President, Shareesh Sharma Vice president Zonal head Jammu, Vijay Kumar Cluster head , Abdul Samad Mir Cluster head, Anita Nehru Credit Incharge, Shakeel Ahmad IADM Incharge.

Others present from PHDCCI in the meeting were Kuldeep Gupta Co Chair, Chetanya Chowdhary from KC Group, Rajat Kumar from VA Technologies, Shantnu Gupta from Rc Gupta & Co.