PHDCCI hosts webinar on impact of COVID-19
Excelsior Correspondent
JAMMU, May 2: Terming J&K Bank as an institution of vital and systematic significance to the economy of entire region, Chairman & Managing Director (CMD) of the Bank, Rajesh Kumar Chhibber, reiterated bank’s resolve to provide all possible support to the trade and industry of J&K.
Speaking during a video conference organized by the Jammu Region Chapter of PHD Chamber of Commerce & Industry on the subject “Emerging Scenerio and Impact of COVID-19 in J&K and Economic Measures to counter it”, Chhibber stated that due to COVID-19 crisis industries all over world are in distress.
Chhibber stated that the bank was fully conscious about the conditions prevailing in the UT and assured that the J&K Bank was always ready to support and extend all support in this regard and that is the only reason, he had constituted the fact finding teams headed by the Directors and Executive Presidents in Kashmir vis-à-vis Jammu to visualize the problems of various sectors of economy including Tourism, Hospitality, Manufacturing and dealing with different trades.
“Every possible help would be provided to the business community to overcome their losses besides projecting of issues at appropriate levels which directly does not pertain to bank,” asserted Chhibber, who was the chief guest and keynote speaker of the conference.
Director J&K Bank Vikram Gujral, PHDCCI (National) vice president Pardeep Multani, former (National) president PHDCCI Anil Khaitan, Director Mallika Verma, PHDCCI ‘s Jammu Region Chapter chairman Rakesh Wazir, co-chairman Rahul Sahai, former chairman Vikrant Kuthiala, J&K Banks Executive Presidents Arun Gandotra, Sunil Gupta, Ghulam Nabi Teli, Zonal Heads, president BBIA Lalit Mahajan, ICAI J&K chapter chairman Lalit Gupta, besides the heads of various associations and business tycoons from all over J&K participated in the conference.
In his welcome address, Rakesh Wazir put forward the problems faced by the industries and service industry in particular in J&K during lockdown. As a breather to the tourism industry, he suggested for extension of moratorium period of all term loans including the projects which are under execution whose repayment is not started as yet along with interest waiver for one year.
He also requested for providing working capital to the hotels. He further said that bank should give 6 months of expenses to the hotels & restaurants for survival and converted into 3 year soft loan with 6 months moratorium. He said that hotels on the pattern of SIDBI be provided with soft loans @5% which it give to start ups.
Other industry leaders also projected their problems and demands.
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