DC Pulwama reviews status of bank loans impacted by prevailing situation

Recommends interest relief for affected sectors

5 Dariya News

Pulwama 12-Sep-2016

The District Development Commissioner, Pulwama, Mr Muneer-ul-Islam convened a meeting here today to deliberate on the sector-wise position relating to the loans and advances of banks that have been impacted by the prevailing situation in Kashmir.The meeting discussed in detail the sectors worst affected by the prevailing disturbances to suggest measures for suitable relief by the banks in light of the RBI guidelines.  The meeting was convened following instructions to all Deputy Commissioners by the Government to take a view on the interest rate concession that could be extended to the affected borrowers so that there is uniformity in approach among banks in providing relief.The meeting observed that while manufacturing and transport sectors have been worst hit by the disturbances in the district like other parts of the Valley, the sectors including businesses, services, horticulture sector and marketing of commercial vegetables have equally suffered massive losses.The meeting while recommending interest subsidy also called for rescheduling of loans of the affected sectors to overcome the distressing situation faced by the borrowers.Besides, representatives of all the banks operating in the district, Jt Director Planning, Deputy Director Employment, Chief Horticulture Officer, Chief Agriculture Officer, General Manager District Industries Centre Pulwama, District Handicrafts Officer and other concerned were present in the meeting.