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| JK Bank fails Kashmiri traders in Bangalore | | | Early Times Report
Jammu, Aug 10 : The J & K Bank is operational in Bangalore from the last forty years and there is a routine practice of giving Temporary Overdrafts (TOD) to the traders from Jammu Kashmir especially those dealing in Kashmiri art and crafts and the local customers of the Bank for fulfilling their business commitments.
Kashmiri traders community thrives on maximum TOD facility of Rs.5.00 lacs and no Kashmiri till date has turned NPA(Non Performing Asset).
In comparison to this local customers get TOD to the tune of Rs 10.00 crores and they form a huge part of NPA.
All of a sudden the Bank Management has withdrawn this facility to poor Kashmiri Traders only which has hampered their business and made life miserable for them.
J K bank is having more than 50% share of state of JK and it is the moral obligation of the Bank to help in uplifting the people of JK anywhere in India.
Kashmiri Traders have been in practice of sending money to their suppliers back home on two most important occassions i.e. Eid-ul-Fitr and Eid-ul-Azha and by this inhumane act of JK bank most of them have failed to send money to their suppliers which have resulted in huge losses to all of them.
The high-handedness of JK bank is evident from the fact that the Bank has given a loan of Rs.100.00 crores to KS Oils at Infantry Road Branch last year and this year it has tuned NPA. Cranes Software whose outstanding with JK Bank is more than 50 crores has been declared NPA by all leading Indian Banks but J K Bank is saving this account through internal adjustments from India Builders Corporation (another blue eyed loanee of J K Bank), simply because it is giving jobs to the kith and kin of top management of the bank.
There is a huge NPA of local customers by way of: Housing Loans in Platinum City Bangalore, consumption loans of Hindustan Aeronautical Limited (HAL), Bangalore Mahanagar Palike (BMP) and many more such accounts to the tune of hundreds of crores.
This should be an eye opener for J K bank management that this Bank has been made by the people of Jammu Kashmir and it is for their upliftment.
Government of JK being the biggest stake holders of the Bank is requested to intervene and take necessary steps to save the business and lives of Kashmiris in Bangalore and their subsequent suppliers in Kashmir. |
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