No EMIs on loans for next three months: J&K Bank Chairman

SRINAGAR — Finally there is some relief in these extraordinary times as the borrowers in Jammu and Kashmir have got a reason to smile after Jammu and Kashmir Bank said that it will not deduct EMIs on all loans for the next three months considering the ongoing coronavirus pandemic that has rattled the entire globe.

The bank would do so while following the Reserve Bank of India directions issued this morning.

Terming the decision a major relief for the people of Union Territory, J&K Bank Chairman and Managing Director (CMD) R K Chhibber said that the bank will implement the RBI guidelines in letter and spirit.

“RBI directions will be fully implemented in Jammu and Kashmir. There shall be no EMI payment by beneficiaries of J&K Bank for the next three months,” the J&K Bank CMD said.