J&K Bank mulls package for flood-hit businesses

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Srinagar: Jammu and Kashmir Bank is mulling a special package for the businesses which have suffered losses during the devastating floods in the state. The bank is convening special meeting of J&K State Level Bankers Committee (JKSLBC) on September 23 at its zonal office, in Jammu.
J&K Bank is the convener of the JKSLBC – a joint platform of all banks operating in the state.
The special meeting will consider a package for the rehabilitation of the business establishments which got affected and suffered losses in the floods across the state. Among other things, the SLBC shall be contemplating a revival package for the affected.
Notably, the insurance companies have already been sounded about carving out a quick hassle free mechanism of settlement of insurance claims. The speedy disposal of claims is a key to the quick revival of business activities in the valley.
Meanwhile, the bank has decided to keep its all functional business units/Extension Counters located in the zones of Kashmir North, Kashmir South and Kashmir Central open and carry normal business on Sunday (21 September, 2014). This has been done to provide solace to the customers and facilitate them in the prevailing post flood situation in the valley.
The bank as on date has made 349 out of 370 business units (branches) functional in the Kashmir valley. Customers across the valley today withdrew over Rs. 239 crores from these branches.
In addition, the customers withdrew over Rs 10 crores from 207 functional automated teller machines (ATMs) of the bank across the valley. Over 22000 transactions took place through these machines.

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