SRINAGAR: The Chamber of Commerce and Industries Kashmir (CCIK) has welcomed the launch of Jammu and Kashmir Bank’s Special One-Time Settlement Scheme, RAHAT (SOTS-2026), effective November 5, 2026, describing it as a significant relief measure for distressed borrowers struggling with financial liabilities.

In a statement issued here, CCIK said the initiative would provide eligible borrowers an opportunity to settle their outstanding loan accounts and overcome financial difficulties, while supporting the revival of stressed businesses and economic activity across Jammu and Kashmir.

The Chamber said its President, Tariq Ghani, along with other office-bearers, had recently met the Managing Director of J&K Bank to discuss the effective implementation of the scheme.

During the meeting, the delegation emphasised the need for a transparent, simplified and borrower-friendly mechanism to ensure that the maximum number of eligible borrowers, particularly traders, entrepreneurs, industrialists and small business owners, benefit from the initiative.

CCIK said the inclusion of eligible Non-Performing Asset (NPA), Technically Written-Off (TWO), Loss Asset and Recoverable Loan and Advance (RLA) accounts offered an important opportunity for borrowers to settle their liabilities and restore their financial position.

The Chamber also appreciated the scheme’s pre-approved, non-discretionary and non-discriminatory framework, saying that eligible cases should be dealt with strictly in accordance with the prescribed parameters, without unnecessary delays or differential treatment.

Urging eligible borrowers to approach their respective J&K Bank branches, CCIK advised them to avail themselves of the scheme within the stipulated period.

The Chamber said it would continue to coordinate with the bank’s management to address implementation-related difficulties faced by the business community and ensure that the benefits reach deserving borrowers.

CCIK also placed on record its appreciation of the Managing Director and the management of J&K Bank for introducing what it described as a timely and much-needed initiative.

The Chamber reiterated its commitment to constructive engagement with financial institutions and other stakeholders to strengthen the business environment, facilitate economic revival and promote sustainable growth in Jammu and Kashmir.