Srinagar, Jan 12: Mohammad Sadiq Baqal and Shahid Hussain Mir today welcomed the decision taken by the J&K’s prominent financial institution The Jammu and Kashmir Bank Ltd regarding the revisit /revision of the commitment charges for its borrowers who couldn’t utilise the business loan amounts in full sanctioned by the bank.
The bank after the intervention of KTMF and various stake holders in its latest notification dated 10 Jan 2023 has reduced the charges of the said commitment charges with a retrospective effect from 01 July 2022 with the instructions to its all branches that the amount deducted from the accounts of the borrowers may be credited into their respective accounts. The bank has revised the charges and are attached for the reference of all the business community for their record and reference.
Mohammad Sadiq Baqal and Shahid Hussain Mir thanked the J&K Bank CEO Mr. Baldev Prakash for the efforts made for the betterment of the traders and told that this kind of efforts will positively strengthen the relations between the Bank and Traders and strongly recommend for the total waiver off of these commitment charges in view of the present circumstances of whole trade community due to which the traders are not able to utilise the borrowed amounts in full. They said that KTMF will be highly regarded if these charges are waived off in full.
Publicity Chief
KTMF
