KYEF Welcomes JK Bank’s OTS scheme: Babar Chowdhary, President Kashmir Youth Entrepreneurs Federation, welcomed the appointment of Baldev Prakash, new Managing Director & CEO of Jammu and Kashmir Bank and also welcomed the special One Time Settlement Scheme for NPA account holders of the Bank.

Babar expressed hope that JK Bank’s new scheme will ease out the difficulties of the business units of the Union territory of Jammu and Kashmir and wish at the same time that bank management will keep the present Covid conditions in consideration and give ample time for applications and repayments of SOTS. 

The KYEF president urges Baldev Prakash to announce more customer-friendly schemes of the Bank that can be suitable for the lenders as well as borrowers of the Bank.

Baldev Prakash, managing director & CEO, recently launched the J&K Bank’s Special One Time Settlement Scheme for NPAs accounts at the Bank’s corporate headquarters in Srinagar. 

With his national-level knowledge of policymaking and strategizing in critical areas of banking at State Bank of India (SBI), besides international exposure in remittances business, including treasury operations at Muscat (Sultanate of Oman), Baldev Prakash brings a wealth of experience and expertise to JK Bank’s maiden position of Managing Director & CEO.

“The timely decision of SOTS launch by the Baldev Prakash, managing director and CEO of JK Bank will make an opportunity for all the business community, transports and allied tourism-related industries of Jammu and Kashmir to keep the business momentum at the top for all seasons,” Babar Chowdhary said.

KYEF Welcomes JK Bank’s OTS scheme

He further said that through this Special One Time Settlement Scheme (SOTS-2021), the Bank provides a golden opportunity to all the eligible account holders to settle their accounts and avail the best possible concessions that can be offered.

The KYEF president further said that Jammu and Kashmir bank, the premier Bank of the Union Territory of Jammu and Kashmir, can do another special interest waiver for the hotels, restaurants, and café owners as, during many years, all the business activities got decreased.

He expressed hope the operative levels will perceive an opportunity for all eligible account holders not to miss this opportunity.

 All the tourism-related industries like hotels, houseboats, restaurants, cafes, transporters etc. by their association have already put forward their genuine demands in various departments of the union territory. In 2022 a positive approach will again be achieved with the necessary follow up of the cases.

Calling the scheme practical, he expressed hope that with the earnest efforts of all concerned, the scheme can be successful for both Bank and its customers, especially the business community, for early settlement of accounts.

“I believe the Kashmir valley has huge potential of business from local market and government and the bank should work out more and more opportunities and avenues for the local businessmen to avail the opportunities,” he said.

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