Srinagar, Oct 15 (KNS): J&K Bank has financed more than 80 per cent of controlled-atmosphere (CA) storage facilities in Kashmir, with an outstanding credit exposure of around Rs 2,000 crore to the sector, highlighting the banking institution's significant financial involvement in the Valley's apple storage industry.

The figures were disclosed by the Bank's General Manager and Divisional Head Kashmir, Arshad Qadri, during an interaction with industrialists, fruit traders and CA storage operators at Lassipora in south Kashmir's Pulwama district on Thursday.

The disclosure comes as industrialists raised concerns over rising input costs, working capital shortages, delays in credit disbursement and difficulties in accessing collateral-free credit guarantee schemes.

President of Industrial Estate Lassipora, Mukhtar Ahmad Khan, said the estate houses approximately 950 industrial units providing employment to nearly 20,000 people.

The figures underline the economic importance of Lassipora, where industrial activity is closely linked to apple production, storage, processing and associated businesses.

During the meeting, representatives of the industrial sector sought greater banking support to address financing difficulties affecting their operations.

Khan raised concerns over increasing operational costs and delays in obtaining credit, while Jammu Kashmir Fruits and Vegetables Processing and Integrated Cold Chain Association President Bashir Ahmad Naik sought a dedicated mechanism for regular discussions between industry representatives and the Bank.

The interaction brought together more than 50 representatives of CA storage businesses, fruit trading and other industrial activities.Click Here To Follow Our WhatsApp Channel

Qadri said the Bank was working to bridge the gap between apple production and available storage capacity, particularly for small and marginal growers.

He said the Bank's financing of over 80 per cent of CA stores reflected its substantial involvement in the horticulture economy.

However, the Bank did not disclose the number of CA storage units financed, the total sanctioned credit to the sector or the proportion of its Rs 2,000 crore exposure currently under repayment.

Chief General Manager Credit Ashutosh Sareen, who chaired the meeting, said the Bank recognised the importance of the apple value chain in supporting growers, industrial activity and employment.

He assured participants that concerns relating to banking services and financing would be examined within the applicable regulatory framework.

General Manager Suresh Kumar Chowdhary also responded to issues concerning working capital and credit availability.

The meeting brought into focus the financial dependence of Kashmir's expanding cold-storage industry on institutional lending, particularly as operators face increasing costs and seek timely access to funds.

While the Bank reiterated its commitment to the sector, industry representatives pressed for more responsive credit services and a structured mechanism to resolve recurring financing problems.

The interaction concluded with assurances from the Bank's senior management that the concerns raised would be addressed in accordance with banking regulations. (KNS)