Srinagar: The Jammu & Kashmir Bank, in collaboration with the Kashmir Chamber of Commerce & Industry (KCCI), organized an Interactive Session with local exporters at SKICC on Tuesday, July 2, 2024. This first-of-its-kind interaction was attended by senior officials from Jammu & Kashmir Bank, Customs, and the Export Credit Guarantee Corporation of India (ECGC).
The session was presided over by the Managing Director of J&K Bank, Baldev Prakash. KCCI President Javed Tenga, in his address, highlighted the tireless efforts made to organize the event. He expressed gratitude to the MD of J&K Bank, the Additional Commissioner of Customs, Mr. Joginder Singh, and a senior ECGC officer, Rahul Sharma, for their personal attendance.
Tenga commended J&K Bank’s role in the economic development of the state, emphasizing its customer-friendly approach. He referred to Prime Minister Narendra Modi’s recent speech in Kashmir, in which the Prime Minister praised the J&K Bank’s management and staff for reducing NPAs from 11% to 4.75%. Tenga urged the MD of J&K Bank to announce an OTS Scheme without a cap and with a longer timeframe. He also raised issues faced by exporters with J&K Bank, the Customs Department, the Directorate General of Foreign Trade (DGFT), and ECGC.
In his address, MD Baldev Prakash spoke about efforts to enhance services and facilities for account holders. He underscored the crucial role of exports in achieving a $5 trillion economy. Additional Commissioner of Customs, Joginder Singh, acknowledged the large turnout of exporters and candidly admitted that many issues were due to systemic glitches that needed to be addressed promptly. He assured that the issues raised would be resolved shortly.
ECGC representative Rahul Sharma gave a presentation on various ECGC schemes. A significant highlight of the interaction was the exporters’ opportunity to voice their concerns regarding the bank and the export process. The MD/CEO of J&K Bank issued on-the-spot orders to address most of the problems raised by the exporters.
KCCI President Javed Tenga thanked everyone for contributing to the success of the session and resolved to hold more such discussions regularly.
