Excelsior Correspondent
Srinagar, Dec 25: The Federation of Chambers of Industries Kashmir (FCIK) today expressed satisfaction over the leadership change at J&K Bank, hoping for an end to the “harassment” and “intimidation” of borrowers.
In a statement issued here, FCIK said that the appointment of Amitava Chatterji as the new Managing Director and CEO of the bank is significant for the economic development of J&K and the bank’s growth.
The apex industrial chamber stated that Chatterji’s extensive experience, particularly in lending, will play a pivotal role in reviving struggling businesses.
FCIK emphasized that the challenges faced by businesses in J&K are unique and cannot be addressed through a one-size-fits-all approach.
“The region has endured decades of turmoil, natural disasters, and socio-economic upheavals, all of which have deeply impacted the business environment,” the chamber noted.
Given these complexities, FCIK said it is optimistic that with his deep understanding of the region’s challenges, Chatterji will recognize the need for a tailored and differentiated strategy, which it said is “crucial for addressing the specific needs of local businesses and driving sustained growth in the regional economy.”
Additionally, FCIK urged the Government to brief and sensitize Chatterji on the ground realities faced by local businesses and the holistic approach required to meet the region’s economic challenges.
The Federation also expressed hope that the “era of harassment and intimidation let loose over the past few years,” which has equally “tortured” borrowers, customers, and loyal bank employees, would come to an end.
FCIK has also anticipated a shift toward more customer-friendly and employee-friendly behavior, which, it said, is crucial for fostering an environment of trust, growth, and collaboration.
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