J&K Bank convenes meeting to chalk out rehabilitation package

The Jammu & Kashmir Bank today said it has convened a meeting of all lenders in the flood-hit Kashmir valley and Jammu region to discuss a rehabilitation package for businesses.
The Srinagar-headquartered, state government-owned bank said a special meeting of the State Level Banking Committee (SLBC) which involves all banks operating in the state would be held at its zonal office next Tuesday.
"The special meeting will discuss rehabilitation of business establishments which got affected and suffered losses in the floods, particularly in the Kashmir Valley," a J&K Bank statement said.
A revival package for affected businesses would also be discussed at the meeting, it said.

Stating that speedy disposal of claims is key to a quick revival of business activity, the statement said that various insurers have been sounded out to evolve a hassle-free process to settle claims.
The banks said that all its functional units in the state would be open on Sunday and that 349 of its total 370 branches in the state have been operationalised so far.
Its customers withdrew Rs 239 crore from its branches today, while an additional Rs 10 crore was withdrawn from 207 operational automated teller machines through 22,000 transactions, the bank stated.