Srinagar January 13 (KNs):  The Associated Chamber of Commerce and Industries Kashmir hails MD and CEO JK Bank , Mr. Baldev Prakash for reducing commitment charges after appeal made by various trade bodies, hoteliers and industrialists bringing respite to the traders.

The authorities of Jammu and Kashmir Bank have decided to reduce the commitment charges substantially. CCIK highly appreciated the decision made by J&K Bank authorities as the economy of Kashmir is still fragile and the borrowers are not in a position to pay commitment charges. The CCIK said that it is a good sign and relief for business community.

CCIK said that J&K business community have high hopes with JK Bank and requested bank authorities to implement new schemes and policies related to young entrepreneurs. CCIK members expressed gratitude towards Mr. Baldev Prakash CMD J&K Bank for revaluating and amending the decision of imposing Commitment charges to account holders of J&K Bank as business community always feels safe in the hands of J&K Bank. (KNS)