Demonetisation effect: J&K Bank to restructure loans

Jammu and Kashmir Bank will restructure loan accounts of customers in Kashmir within the flexibility provided by the system in view of the four-month agitation in the valley.
"Regarding the re-structuring of loan accounts, whatever flexibility we are able to get from the system shall be extended to our customers," JK Bank chairman Parvez Ahmad told a delegation of traders who called on him here.
He said the people of the state along with their trade and economy remain the fundamental strength of the bank.
"We remain committed to support them and their development in every possible way within the prescribed framework of regulations. We are quite aware of our role and responsibilities as the leader bank of this region and are trying our best to meet not only people s needs but expectations as well," Ahmad said.

He said the best example to support the bank's claim is the way it has smoothly dealt with the central government's massive demonetisation process across the state when the entire country is still reeling under its effects.