Srinagar, Mar 10: J&K Bank, which is also Convener State Level Bankers’ Committee (SLBC), today organised the 8th Sub-committee meeting of SLBC for export promotion at the Bank's Zonal office Jammu.
The bank’s Executive President Surjeet Singh Sehgal, chaired the meeting which was also attended by Vice-President (FEBD) Karanjit Singh, Dy. Director (DGFT) J&K M K Nikhare and Manager RBI Indu Agarawal besides representatives from ECGC, trade bodies, various government agencies and banks, bank said in an official press release here.
A wide range of issues including providing of liberal finance to exporters at concessional rates were also discussed in the meeting.
Speaking on the occasion, S S Sehgal said, “The banks in the state are more than willing to extend need-based and purpose-oriented credit facilities to the export sector.”
He urged the people from concerned sector to highlight problems, if any, from the banking sector so that it is resolved on priority basis.
Expressing concern over the fact that the data pertaining to export credit was not available for most of the private banks operating in the state, he said, “The major portfolio for the export credit in the state is being handled by J&K Bank whereas other major banks have a minimal exposure in the segment.”
Appreciating the role of J&K Bank, the trade bodies impressed upon other Banks operating in the state to come forward and extend liberal finance to the exporter community.
Besides, referring to various problems faced by the exporters’ community S S Sehgal requested the trade bodies and other apex agencies to take up issues mutually with the state and central Government at appropriate levels for immediate resolution.
The meeting concluded with vote of thanks by Vice President Karanjit Singh.
Meanwhile, making more and more people aware about the basics if banking and finance besides educating them about various schemes of government meant for their economic wellbeing, the bank conducted a series of financial literacy camps across the state. In collaboration with NABARD, these camps were organized at TP Baramulla, Andergam, Chaki Razak Khan, Noorbagh, Watergam, Mirgund, Bandi Payeen in district Baramulla; at Gangangeer in district Ganderbal; at Athwatoo, Bhutoo, Malangam and Panzigam in district Bandipore; Ichgoza Keller and Manzimpora in district Shopian and at ITI Kulgam.