BBIA Hails Reduction in the Commitment Charges by J&K Bank

12-01-2023 : Sh. Lalit Mahajan Chairman Federation of Industries Jammu & President Bari Brahmana Industries Association  conveyed  Heartiest thanks to Sh. Baldev Prakash, Managing Director & Chief Executive Officer, J&K Bank Ltd. for taking quick decision in respect of Reduction in the Commitment Charges in respect of Credit Facility being availed by the Industrial Units and Trade with the issuance of requisite Notification in the reduction of Commitment Charges w.e.f 01-07-2022 to 31-3-2024 which will provide relief to the existing Borrowers of the Bank which also includes the Units working on seasonal basis for need based Seasonal facilities.

It is pertinent to mention here that J&K Bank is the Front Runner in providing Credit to Priority Sector of Industry as defined by the Reserve Bank of India whereas the Private Banks working in J&K State always focus on the Deposits from the local Residents with the least credit facility to priority sector. The matter already brought into the notice of Reserve Bank of India no. of times in the Empowerment Committee Meetings also.