Shahre Khass Traders criticise ‘double EMI deduction, card blocks’ on Eid eve

Srinagar: The Shahre Khass Traders and Chambers have expressed strong disapproval over what they describe as “insensitive and unjustified” actions by Jammu & Kashmir Bank on the eve of Eid, calling for urgent intervention from the bank’s top management.

In a statement issued to Ziraat Times on Tuesday, the traders’ body said it had received “disturbing reports” from several account holders alleging that JK Bank had deducted double monthly installments (EMIs) from their accounts without prior intimation. The group also claimed that a number of customers found their ATM and debit cards blocked without warning—just days before one of the most significant festivals in the region.

“This type of behavior is not only inconvenient but also unacceptable, especially during a time that holds so much significance for our community,” said Raqib Altaf Shah, Chief Spokesperson of Shah Re Khass Traders and Chambers. “It demonstrates a shocking lack of understanding and empathy for the bank’s customers.”

“The bank must act now to restore trust and confidence. A festival that is meant to bring joy should not be overshadowed by financial stress caused by such avoidable lapses,” the statement concluded.

There was no immediate response from JK Bank regarding the allegations at the time of filing this report.