Jammu:
A delegation of the Chamber of Commerce & Industry (CCI), Jammu, led by its President, Shri Arun Gupta, on Wednesday called on the Managing Director and Chief Executive Officer of J&K Bank, Shri Amitava Chatterjee, at the Zonal Headquarters in Jammu. The delegation apprised the bank’s top management of various issues and challenges being faced by the business community in the region.
During the meeting, Shri Arun Gupta emphasized that customer services at the operational level need significant improvement to better cater to traders, entrepreneurs, and industrialists. He pointed out that the interest rates on bank loans offered by J&K Bank are currently higher compared to other banks, which is causing hardship to borrowers.
The CCI President urged the bank to slash interest rates, particularly for new startups, to encourage entrepreneurship and economic growth. He also demanded that processing charges on loans be reduced and brought at par with other banks operating in the region.
Shri Arun Gupta further highlighted the issue of borrowers who had availed bank limits by mortgaging leasehold properties whose lease period has expired. He requested that such parties should not be disturbed, as the government is considering a policy to resolve the matter and extend the lease period.
Responding to the concerns raised, the MD & CEO of J&K Bank, Shri Amitava Chatterjee, assured the delegation that all the issues discussed during the meeting would be examined on merit and efforts would be made to resolve them in a time-bound manner. Acknowledging that some account holders had shifted to other banks due to higher interest rates, he expressed the bank’s commitment to winning them back by offering better facilities. He also announced that processing fees would be waived for customers who return to the bank.
The delegation accompanying the CCI President included Shri Anil Gupta, Senior Vice President; Shri Rajeev Gupta, Junior Vice President; Shri Manish Gupta, Secretary General; Shri Rajesh Gupta, Secretary; and Shri Rajesh Gupta, Treasurer.
