As part of relief & rehabilitation package for the flood affected people of Jammu and Kashmir, Union Minister of State, PMO, Jitender Singh today launched 'J&K Special Credit-cum-Relief Camps' here.
Flanked by State Finance Minister Abdul Rahim Rather, Chairman Indian Banks' Association (IBA) T M Bhasin, J&K Bank Chairman & CEO Mushtaq Ahmad, Singh said: "this package has been in the line of things that central government has charted out for flood victims of J&K".
Speaking on the occasion, Singh, said, "These camps have been devised by the Ministry of Finance (GOI) and IBA with complete support from J&K Bank which is Convenor State Level Bankers' Committee (SLBC)."
"The main feature of the relief package is to provide loans for economic activities and reconstruction of houses to the flood-affected on softer terms like longer repayment schedule, concessional rate of interest and extended moratorium," he said.
"The government of J&K is well aware of the magnitude of the losses that the people in Jammu and in Kashmir have suffered due to the floods," Rather said.
"We are expediting to bring economy back on wheels as soon as possible," Rather said.
Earlier, J&K Bank Chairman Mushtaq Ahmad expressed his sympathies for the flood affected people of the region.
He thanked IBA, RBI and the central government for extending full support in drafting and sanctioning of the package as per the need and sentiments conveyed in the special meeting by the banking fraternity operating in the state.
IBA Chairman T M Bhasin also expressed his feelings on the unprecedented situation in the valley due to the deluge and pledged support for the initiatives taken by the banking Industry especially the J&K Bank for rehabilitation of the people in the flood affected areas of the state.
