Shehr-e-Khaas Traders Alliance Meets J&K Bank Officials to Address Business Concerns
In a recent development, the Shehr-e-Khaas Traders Alliance held a productive meeting with officials from J&K Bank at the bank’s Khanyar branch unit on Wednesday. The primary focus of the meeting was to discuss the escalating concerns related to Non-Performing Assets (NPAs), loan recovery methods, and operational challenges that are currently affecting the local business community in Srinagar.
The meeting, which was initiated by J&K Bank’s Khanyar branch, brought together key representatives from the bank along with office bearers of the traders’ alliance. The discussions centered around critical issues that have strained the relationship between the banking institution and local entrepreneurs in the region.
One of the key topics of discussion was the traders’ concerns regarding the bank’s handling of NPAs and loan recoveries. The traders’ alliance has consistently raised issues about the lack of sensitivity in the bank’s approach, especially considering the economic disruptions that have significantly impacted businesses in recent years.
Additionally, the traders highlighted issues related to the behavior of certain bank employees when dealing with distressed account holders, as well as operational challenges affecting daily business transactions and banking services.
During the meeting, Alliance President Nazir Ahmad Shah, along with other office bearers, including Umer Gani, Gowhar Ahmad, Feroz Ahmad, Majid Ahmad, Tariq Ahmad, and Abid Khan, presented a compelling case for a more empathetic and nuanced approach to debt resolution.
It was emphasized that the traders are not advocating for blanket relief or supporting willful defaulters. Instead, they emphasized the importance of distinguishing between intentional defaulters and genuine entrepreneurs who have faced financial difficulties beyond their control.
Chief Spokesperson Feroz Ahmad Wani reiterated the alliance’s stance during the meeting, stating, “While we do not condone willful defaulters, genuine entrepreneurs in financial distress require support and a viable path to settle their obligations.”
The traders’ alliance has formally appealed to both the Jammu and Kashmir government and J&K Bank’s senior management to establish a high-level committee. This committee would be tasked with developing a comprehensive policy framework for business revival and structured loan restructuring across the region.
