J&K Bank revises commitment charges, earns praise

SRINAGAR, JANUARY 13: Extending a gesture of great relief towards its borrowers, J&K Bank has revised the commitment charges applicable in case of working capital facilities of its borrowers. In response to the feedback received from its various stake holders, the revised charges are applicable from 1st July, 2022 and will remain in force up to 31st March, 2024.

 

Commenting upon the revision of charges, Bank’s General Manager, Credit, Ashutosh Sareen said, “As I have already stated that we believe our borrowers are an extended part of J&K Bank Family, the decision to slash the commitment charges comprehensively has been taken after factoring in the feedback received from our stakeholders from different operational geographies.”

 

“In addition to reducing these charges to one of the lowest levels in the industry, the revision has been given retrospective effect from July 1, 2022”, he said.

 

Stressing upon the bank’s borrowers to scale their businesses up besides utilizing all the sanctioned funds to progress ahead with confidence, Ashutosh Sareen further said, “Since our growth is mutual, you will always find us shoulder to shoulder with you in times of need.”

 

Notably, various trade/business associations and individual borrowers have hailed the Bank’s goodwill gesture and appreciated the Bank for always supporting them during the turbulent times.