In a significant outreach to the business community, Chief General Manager of J&K Bank, Sunit Kumar Gupta, held an extensive interaction with members of the PHD Chamber of Commerce and Industry (PHDCCI), Jammu Region Chapter, and the Hotel & Restaurant Association, Katra (HRAK) to address the challenges faced by the hospitality sector and review measures under the Rehabilitation Package 2025.
The meeting saw participation from senior bank officials including DGM Lalit Parkash, Cluster Head Amit Bargotra, and Branch Head (Main Branch Katra) Samaresh Salgotra, along with key representatives from PHDCCI and HRAK — Rakesh Wazir, President HRAK & Chairman PHDCCI Jammu Region; Shyam Lal Kesar, Chairman HRAK; Kartik Partap Singh, Deputy Regional Director, PHDCCI; and other executive members.
Reassuring the local business fraternity, Mr. Gupta emphasized that J&K Bank remains committed to standing by entrepreneurs and hoteliers during testing times. He announced that turnover-based credit limits for hoteliers, a long-standing demand of the sector, have now been implemented. He also urged businesses to avail themselves of the various benefits offered under the Rehabilitation Package 2025, noting that bank staff have been directed to proactively assist borrowers.
Addressing the gathering, Mr. Rakesh Wazir highlighted that the hospitality and allied sectors are experiencing severe distress following the Pahalgam attack, Indo-Pak tensions, suspension of the Vaishno Devi Yatra, and continuous rains and landslides. The prolonged halt in pilgrimage movement, he said, has led to loan repayment defaults and financial strain on hotel operators. He welcomed the Rehabilitation Package 2025 for providing extended repayment terms and working capital support, while requesting relaxation of the clause excluding accounts overdue as of April 21, 2025.
Mr. Shyam Lal Kesar further suggested that even those units not opting for the rehabilitation package but seeking short-term relaxations should be considered sympathetically. He also stressed on the need for wider publicity of J&K Bank’s schemes to ensure maximum reach among entrepreneurs.
The interaction concluded with J&K Bank’s assurance of continued cooperation and tailored financial support to help revive the region’s hospitality and tourism-driven economy.
