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J&K Bank revises commitment charges, earns praise

by KH Business Desk
January 14, 2023
in Business
Reading Time: 1min read
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J&K Bank Q3 net profit jumps up 164% YoY to Rs 173.95 Cr
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Srinagar: Extending a gesture of great relief towards its borrowers, J&K Bank has revised the commitment charges applicable in case of working capital facilities of its borrowers. In response to the feedback received from its various stake holders, the revised charges are applicable from 1st July, 2022 and will remain in force up to 31st March, 2024.
Commenting upon the revision of charges, Bank’s General Manager, Credit, AshutoshSareen said, “As I have already stated that we believe our borrowers are an extended part of J&K Bank Family, the decision to slash the commitment charges comprehensively has been taken after factoring in the feedback received from our stakeholders from different operational geographies.”
“In addition to reducing these charges to one of the lowest levels in the industry, the revision has been given retrospective effect from July 1, 2022”, he said.
Stressing upon the bank’s borrowers to scale their businesses up besides utilizing all the sanctioned funds to progress ahead with confidence, AshutoshSareen further said, “Since our growth is mutual, you will always find us shoulder to shoulder with you in times of need.”
Notably, various trade/business associations and individual borrowers have hailed the Bank’s goodwill gesture and appreciated the Bank for always supporting them during the turbulent times.

 

KH Business Desk

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The publication of “Kashmir Horizon” as an English daily was started with a modest attempt on May 19, 2008.It has been a Himalayan attempt for “The Kashmir Horizon” to survive the challenges posed to journalism in the violence fraught place like Jammu & Kashmir.

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