Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Deduction of Commitment Charges: J&K Bank urges borrowers to utilize sanctioned limits to avoid charges, terms it as industry norm
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Business > Deduction of Commitment Charges: J&K Bank urges borrowers to utilize sanctioned limits to avoid charges, terms it as industry norm
Business

Deduction of Commitment Charges: J&K Bank urges borrowers to utilize sanctioned limits to avoid charges, terms it as industry norm

RK News
Last updated: January 7, 2023 12:18 am
RK News
Published: January 7, 2023
Share
3 Min Read
SHARE

Srinagar, Jan 06: Jammu and Kashmir Bank on Friday clarified that the deduction of commitment charges was based on an industry-wide norm and were being charged on the sanctioned limits not availed by borrowers up to threshold levels.
Notably, a couple of days ago Kashmir Economic Alliance had expressed concern about the decision of J&K Bank for deduction of commitment charges from borrowers and had sought the intervention of the Bank authorities in this regard.
Meanwhile, in a statement, issued by the General Manager Credit J&K Bank Ashutosh Sareen said throughout its remarkable journey of over 84 years, J&K Bank has always empowered people and businesses by providing them need-based finance.
“We have stood with our esteemed customers through thick and thin of times across our operational geographies, be it by way of extending facilities under 2014 floods rehabilitation package or GECL and restructuring program under Resolution Framework 1.0 and 2.0 during Covid19 pandemic,” he said.
He said regarding the concerns expressed by some of our borrowers on deduction of commitment charges, it is clarified that it is an industry-wide norm and is charged on the sanctioned limits not availed by the borrowers up to threshold levels prescribed by respective banks.
“But J&K Bank was not levying these charges till recently due to pandemic and other issues which had led to adverse audit observations.”
He further said now in line with the industry practice, we have automated the application of commitment charges.
“Having said that, since we believe our borrowers are an extended part of J&K Bank Family, we would request them to utilise all the sanctioned funds to enhance their businesses and earn more for themselves and those they employ in their enterprises.”
He also said in fact, as a goodwill gesture, the Bank recently reduced its rates of interest by 0.50 % to 1.00% w.e.f 1st December, 2022 for all borrowers across all business sectors.
“Besides, for the convenience of its customers the Bank shall continue to review its policies that includes to ease the loan processing mechanism, reduce interest rates and other charges especially in MSME and trade sector so as to minimize the cost of finance to its borrowers,” he added.

J&K Bank customers’ insurance claims settled without hassles
“2,010 incidents of attacks, affecting 1,705 minority families in Bangladesh”
Find Your Dream Job with TimesofKashmir : Your Ultimate Source for Job Notifications
Maruti Suzuki launches New Eeco car 
J&K Bank’s car financing crosses  Rs 1600 crores in 2023

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Housing for All: 2 years on, no case approved for construction of pucca house in J&K
Next Article Police arrests accused in Budgam burglary case
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Hyderpora underpass turns into cab stand, sparks safety concerns
City
May 26, 2025
Bear-Proof Corral unveiled to tackle human-wildlife conflict in Drass
Kashmir
May 26, 2025
SACPPE holds session to safeguard children from unexploded shells in Uri
Kashmir
May 26, 2025
‘Prem Visheshagya’ brings laughter to Natrangs’ Sunday theatre
Jammu
May 26, 2025

Recent Posts

  • Hyderpora underpass turns into cab stand, sparks safety concerns
  • Bear-Proof Corral unveiled to tackle human-wildlife conflict in Drass
  • SACPPE holds session to safeguard children from unexploded shells in Uri
  • ‘Prem Visheshagya’ brings laughter to Natrangs’ Sunday theatre
  • Admin spreads awareness on drug abuse in Sgr

Recent Comments

  1. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  2. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  3. dr gora on Women Veterinarians and the Goal of Viksit Bharat
  4. jalwa game login on National Education Policy 2020: Transforming India’s Educational System
  5. Virender Bhat on Pahalgam Attack: A War on Humanity, Peace, and Kashmiriyat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?