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| Industrialists hail PLR reduction | | | Early Times Report
Jammu, May 7: Federation of Industries Jammu has expressed its gratitude to the management of J&K Bank ltd in reduction of prime lending rates (PLR) for MSME sector in J&K hit hard by global economic crisis.
It was involved in the meeting that the J&K Bank, which is considered to be our own Bank, should be requested to come to the rescue of MSME and reconside the Prime Lending Rate so as to bring it atleast at par with other Nationalized Banks and thereby come forward to provide cushion to the MSME sector financially. In case the loans are available to the industry on reasonable rates atleast at par with other Nationalized Banks, it will be beneficial both to the Bank as well as the industry as the flow of money will accelerate and ultimately give a boost to the industrial sector.
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