J&K Bank will give 90 days more for repayment of loans: RK Chhibber

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Srinagar: In a humane gesture, Jammu and Kashmir Bank on Tuesday gave some relief to its borrowers with the financial organisation’s Chairman and Managing Director RK Chhibber announcing that they will get 90 days more to repay loans in view of the current situation in the Union Territory.

The decision was taken at a Special SLBC convened by J&K Bank at Srinagar to address difficulties faced by the borrowers and the banks due to disruption in business in the J&K since August 2019.

RK Chhibber in his welcome address appraised the house about the circumstances in which banks are operating in the state and briefed the meeting about the steps needed to address the regulatory concerns.

The meeting was presided over by Chief Secretary J&K Government, BVR Subrahmanyam (IAS) and attended by Financial Commissioner (Finance) Dr. Arun Kumar Mehta (IAS), Principal Secretary (Housing and Urban Development) Dheeraj Gupta (IAS), Principal Secretary (Planning and Development) Rohit Kansal (IAS), Principal Secretary (Industries and Commerce) N K Choudhary (IAS), Chairman and Managing Director J&K Bank (Convener J&K SLBC) RK Chhibber, Deputy Secretary (DFS, MoF, GoI) AK Dogra, Regional Director Reserve Bank of India, Thomas Mathew, General Manager State Bank of India Binod Kumar Mishra.

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