Trade representatives meet J&K Bank CMD, discuss business concerns
Srinagar: Seeking temporary finance facility various trade leaders on Saturday asked the Jammu and Kashmir Bank management to try to address the liquidity concerns in the market owing to the continuous Covid-19 lockdown. Interacting with J&K Bank Chairman and Managing Director (CMD) R K Chhibber a delegation of various trade bodies’ representatives that had called […]
World Environment day: J&K Bank CMD, senior functionaries plant saplings at Badamvaer
Srinagar: On the occasion of World Environment Day, J&K Chairman and MD (CMD) R K Chhibber and his senior management team planted saplings at Badamvaer Friday. In the picturesque Badamvaer – which is developed and maintained by the bank – the bank’s CMD R K Chhibber planted a sapling along with the bank’s Executive Presidents […]
J&K Bank extends relief under ‘Atmanirbhar Bharat’ to borrowers
Two ATMs also commissioned in Srinagar
Srinagar: With a view to extend relief to its borrowers under the Central Government’s recently announced Special economic and comprehensive ‘Atmanirbhar Bharat’ package, J&K Bank has directed all its operative levels to expedite the processing of loans under the Central Government’s newly announced scheme “Guaranteed Emergency Credit Line (GECL)”. The scheme is part of special […]
Suspension of LoC trade has cost Rs 500 Cr loss: Traders
Srinagar: The Salamabad Cross Union Trade Association Wednesday said that people involved in cross LoC trade are on verge of collapse and starvation as around Rs 500 crore have been lost since the trade was suspended last year in April by the Government of India. Chairman Salamabad cross union trade (SCUT), Hilal Turkei said that […]
Smart meters to be equally distributed between Jmu, Sgr: Kansal
Urges DISCOMS to take advantage of economic packages
JAMMU: Principal Secretary Power Development Department, Rohit Kansal urged the Distribution Companies (DISCOMS) viz. JPDCL and KPDCL to take advantage of the Special Economic & Comprehensive Package for them provided under the Atma Nirbhar Abhiyan. The scheme provides for liquidity infusion of Rs. 90,000 crore to DISCOMs for discharging liabilities of DISCOMs towards power generating […]
J&K Cooperative Bank scam: ACB issues lookout notice for ex-chairman
Jammu: The Anti-Corruption Bureau (ACB) on Tuesday issued a lookout notice for a former chairman of J&K State Cooperative Bank Limited in connection with his alleged involvement in Rs 223-crore land scam pertaining. The chairman of the Jhelum Cooperative House Building Society (JCHBS), Hilal Ahmed Mir, was arrested on May 14 in the alleged land […]
Lockdown: Horticulture activities gain momentum across Kashmir: Govt
JAMMU: Horticulture Department’s activities gained momentum in the region, with relaxation in the lockdown restrictions, to facilitate fruit growers resume and revive their operations with maintenance of its nurseries across the Kashmir Valley amid COVID-19 Pandemic, while strictly following the guidelines and SOPs issued by the government. The department, in an endeavor to give respite […]
Petrol, diesel to be costlier in JK
JAMMU: The government Friday increased the rate of tax on sale of petrol and diesel in J&K by Rs. 2 per litre and Rs 1 per litre respectively. The new rates will be effective from Ist June 2020. The tax increase on petrol and diesel in J&K follows a similar move by the neighbouring states […]
Lockdown: India facing its worst recession in current fiscal, says Crisil
New Delhi: India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said on Tuesday as it predicted the economy to shrink by 5 per cent in the current fiscal because of coronavirus lockdown. “The first quarter (April to June 2020) will suffer a staggering 25 per […]
It is official, India heads for recession
2020-21 GDP growth likely to remain in negative territory, says RBI Guv
Mumbai: Painting a gloomy picture of the economy, the Reserve Bank of India (RBI) on Friday said the impact of COVID-19 is more severe than anticipated and the GDP growth during 2020-21 is likely to remain in the negative territory. The outlook of inflation also remains “highly uncertain”, RBI Governor Shaktikanta Das said while announcing […]