JK Bank scheme for start-up financing on cards


Deriving its key strengths from the business in the state, J&K Bank lends its complete support to all the segments of economy that includes micro, small and medium enterprises. With businesses being one of the most vibrant elements of the state economy, we see their growth and development as part of our progress and success in the longer run.

Chairman and CEO J&K Bank Parvez Ahmed said this today to the delegation of Federation Chamber of Industries Kashmir (FCIK), which was led by its President Er Mukhtar Yousuf here at corporate headquarters.

The chairman committed to the delegation that the bank is soon coming up with a comprehensive scheme for start-up financing.

The bank’s Senior President S K Bhat, Vice President Manzoor Hussain were also present.

“The bank is working closely with societies across the state for we believe that healthy appraisal of institution requires feedback on shortcomings as much as receiving appreciation for service and commitment”, he added.

He congratulated the delegates for their election as office bearers of FCIK.

Earlier, President FCIK along with his associates hailed Parvez Ahmed for assuming the chair and expressed gratitude for the bank’s immense public service despite all odds.

Congratulating the bank for recent restructuring package, the delegation sought clarifications on certain points and requested for further relief in interest rates.

Other issues that came up during the meeting included setting up of specialised MSME branches or counters, rehabilitation of sick industrial units, commissioning of ATMs near few industrial estates besides effective implementation of CGTMSE.

The chairman responded to all the issues in detail. He directed the concerned to take all the suggestions put forward by the delegation and come up with action points for implementation and follow up.

He said, “Bringing more efficiency into the system, the bank shall soon be providing customised service not only for MSME but all other sectors of the economy. In pursuit of this, proper rationalisation of staff is being done so that right persons are put at right places.”

On the occasion, while agreeing to contribute towards Entrepreneur Development Club set up by the visiting traders’ body for counselling start-ups, he said, “The bank is soon coming up with a comprehensive scheme for start-up financing.”

However, he unequivocally told the visitors that the bank has already extended concessions and relief possible within the regulatory framework.

On the request for ATMs, the Chairman passed on the directions for immediate action in this regard.