Srinagar, Jan 7: A meeting between the Shehr-e-Khaas Traders Alliance and J&K Bank officials was held at the bank’s Khanyar branch unit on Wednesday to address mounting concerns over Non-Performing Assets, loan recovery methods, and operational challenges affecting the business community.
The meeting, convened at the invitation of J&K Bank’s Khanyar branch, brought together senior bank officials and office bearers of the traders’ alliance to discuss several critical issues that have strained relations between the banking institution and local entrepreneurs.
Central to the discussions were concerns about the bank’s approach to handling NPAs and loan recoveries, which the traders’ body has consistently described as lacking sensitivity, particularly in the context of economic disruptions that have severely impacted businesses across the region in recent years.
The traders also raised issues regarding the conduct of certain bank employees in their dealings with distressed account holders, along with various operational matters affecting daily business transactions and banking services.
Alliance President Nazir Ahmad Shah, along with office bearers including Umer Gani, Gowhar Ahmad, Feroz Ahmad, Majid Ahmad, Tariq Ahmad, and Abid Khan, presented a comprehensive case for a more nuanced and understanding approach to debt resolution.
The traders’ body made it clear that they are not seeking blanket relief or supporting willful defaulters who deliberately avoid their financial obligations. Instead, they emphasised the need to differentiate between those who default intentionally and genuine entrepreneurs who have been caught in difficult circumstances due to factors beyond their control.
“While we do not support willful defaulters, genuine entrepreneurs facing legitimate financial difficulties need support and a viable path forward to settle their obligations,” Chief Spokesperson Feroz Ahmad Wani stated during the meeting.
The alliance has formally appealed to both the Jammu and Kashmir government and J&K Bank’s senior management to constitute a high-level committee that would be tasked with formulating a comprehensive policy framework for business revival and systematic loan restructuring across the region.
