A delegation from the state council of Confederation of Indian Industries (CII) led by Waseem Trumboo called on J&K Bank Chairman and CEO Mushtaq Ahmad to discuss various issues faced by the industry in the State.
The meeting chaired by Mushtaq Ahmad was attended by twenty delegates from J&K State council of CII, J&K Bank Presidents Shafat Ahmad Banday and Nayeemullah and other bank officials.
In his opening remarks Chairman J&K Bank highlighted performance of the bank and dwelt briefly upon its role in fueling economic growth across different sectors of J&K economy. He also talked about the services rendered by the Bank to the people of J&K State across all sectors.
"I thank J&K Bank Chairman for his valuable time and insights", said Waseem Trumboo speaking on behalf of state council of CII. He congratulated the bank for achieving a business turnover of Rs.87, 000 crores depicting remarkable growth over the past 18 months.
The delegates appreciated services rendered by the bank.
The Chairman gave a patient hearing to the delegates who requested for concessions and resolution of few specific issues faced by different sectors of the industry.
He informed the delegates that the Bank has launched ‘Apple Project’ wherein specially designated bank officials are profiling farmers at their doorstep to enable them to avail credit for production/preservation/marketing of apple. The scheme launched initially in two apple districts of Shopian and Baramulla will gradually be extended to all the apple districts of J&K State.
The Chairman agreed to extend the project to Lassipora in response to a request was made by some delegates.
Responding to another query from one of the delegates seeking promotions of water transport in Kashmir, Chairman emphasized that bank was ready to finance any economically feasible and commercially viable activity. He said that JK “Help Tourism” Scheme for promotion of paying guest culture will be renewed and revised as per current requirements.
After thorough deliberations on various issues highlighted by CII, Mushtaq Ahmad assured the delegates that the suggestions will be examined in consultation with Industry representatives.
Besides, the areas that were broadly identified for further examination by the bank includes Working Capital requirements of hotel industry based on their actual requirements, representation to RBI to include Hotel industry as a priority sector advance and extend same treatment as being extended to such units in Himachal Pradesh and North eastern states.
Meanwhile, the Chairman requested delegates to forward specific issues and requirements of sectors in writing as discussed in the meeting to enable the bank to formulate suitable products/solutions to address the requirements of the industry.
Notably, state council of CII is a 117 year old non-governmental association with 6600 members belonging to small and large organizations from Private and Public Sectors.
The delegates who shared their views with the Chairman included Asif Iqbal Burza, Director Ahad Hotels and Resorts and Chairman CII Kashmir Zone, Director Kanwal foods and spices Farooq Amin, Director Kashmir Sunsilk Shiekh Imran, Director Magpie hydel projects Mudasir, Managing Director Fruit Master Agro Faisal Burza, Director Saifco Cements Suhail Manzoor, Managing Director RCC Infratech Riaz, Director Hassan Group Zubair Aslam, Director Alpineridge Ifshan Khanday, , Director Comerade Inn Sajid Farooq, CEO Space Communication Dr Amit Wanchoo, Managing Director Pashmina Ghar Exports Tariq Rashid, Director Nedous Hotel Aqil Nedou, Administrator DPS Shazia Bakshi, Director WoodArt Shahala Sheikh and Partner Hotel Pahalgam Ramneeq Kaur.