Early Times Report
Jammu, Sept 23: A Special State Level Bankers Committee Meeting for taking stock of the devastation caused by floods in J&K State, specially in Kashmir Valley and devising suitable measures in effected areas for relief, rehabilitation, revival and restructuring of various types of credit facilities in the affected areas was convened by Jammu and Kashmir Bank (Convener J&K SLBC) at J&K Bank, Zonal Office, Jammu on 23.09.2014. Mushtaq Ahmad, Chairman J&K Bank chaired the meeting. Notable among the participants were Shantamanu, I.A.S, Divisional Commissioner Jammu, K.K.Saraf, Regional Director Reserve Bank of India, S.A. Pandey, Chief General Manager, NABARD, A.K. Dogra, Deputy Secretary, Department of Financial Services, Government of India, Visheweshar, Advisor, Indian Banks Association, Showkat Aijaz, Director Finance, J&K Government, Parvez Ahmad & Abdul Hamid Banday, Executive Presidents of J&K Bank as also other senior officers from J&K Bank. Other participants included Mahapatra, Chief General Manager, SBI and Dr Rakesh Gupta General Manager PNB and senior representatives of RBI, NABARD & Commercial banks operating in the State.Mushtaq Ahmad, Chairman & CEO, J&K Bank, initiated the proceedings and discussion. He briefed the participants about the scale of the unprecedented devastation caused in the affected areas and highlighted the purpose and rationale of the special SLBC meeting. He disclosed that devastation in Kashmir Valley was of serious nature and since the business of the J&K State is interdependent , the commercial losses in Kashmir will have an adverse impact on business in Jammu. As such, the borrowers of all the banks, banking with different banks in the state need immediate relief & rehabilitation to re start their economic venture/business at the earliest. He urged the participants of different banks to discuss the agenda in detail and reach a consensus, so that immediate relief from the perspective of banking is provided to effected people Shantamanu, Divisional Commissioner Jammu, representing Govt. of J&K, informed the house that the survey for assessing the damage is underway. The state administration is taking every possible step in rescue and relief operations. He urged the banking fraternity to deliberate and discuss the relief measures for their speedy implementation. It was further decided to constitute a sub- committee of SLBC for monitoring implementation of relief measures by banks and suggesting resolution of issues that may arise from time to time. It was also resolved to forward the recommendations of SLBC to RBI, IBA, Department of Financial Services, Government of India and State Government for required approvals. |
