Jammu : The state-level bankers committee in Jammu and Kashmir Tuesday decided to implement many financial relief schemes to provide relief to people whose livelihood has been ravaged by floods in the state.
A special bankers committee meeting chaired by Mushtaq Ahmad, chairman of the Jammu and Kashmir Bank, was held here Tuesday to take stock of the devastation caused by floods.
In the meeting, it was resolved to implement relief measures like restructuring of loans and advances by sanction of additional credit facilities at a concessional rate of interest, conversion of part of existing working capital facilities into working capital term loan, extension of repayment period with moratorium and funding of interest on existing credit facilities.
A sub-committee will be formed to monitor the implementation of the relief measures by banks and suggest resolution of issues.
The meeting was attended by Jammu divisional commissioner Shantmanu, and officials of the Reserve Bank of India, and other financial institutions.