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: J&K Bank rolls-out Special Karz Mukti Scheme-2022
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 > City > J&K Bank rolls-out Special Karz Mukti Scheme-2022
City

J&K Bank rolls-out Special Karz Mukti Scheme-2022

JC Online Desk
Last updated: June 16, 2022 9:09 pm
JC Online Desk
Published: June 16, 2022
Share
3 Min Read
SHARE

As a part of its wider drive to reduce Non-Performing Assets, J&K Bank on Thursday rolled-out its second One-Time Settlement (OTS) scheme.

According to a statement issued here, The Bank’s MD & CEO Baldev Prakash launched the scheme titled ‘JKB Special Karz Mukti Scheme – 2022’ for NPAs in presence of the entire top-management at corporate Headquarters.

Bank’s Divisional Heads of Jammu, Kashmir and Rest of India besides the Heads of all Zones and Clusters also joined the function through Video-Conferencing mode along with other senior officers.

Complementing the concerned team for devising such scheme, MD & CEO Baldev Prakash said, “I see ‘JKB Special Karz Mukti Scheme – 2022’ as an attractive offer developed for the targeted borrowers. Therefore I hope all the eligible account holders would avail this golden opportunity to settle their accounts and benefit from the best possible incentives, concessions provided under the scheme.”

Emphasizing upon the need for direct and in-person communication with borrowers to make them aware about the scheme parameters, MD &CEO directed the participants to persuade every borrower in person for early resolution under the scheme while working in close coordination with each other for effective implementation of the scheme.

Earlier, General Manager (IAPMD) Syed Shujaat Hussain Andrabi gave an overview of the Bank’s NPA Scenario and urged upon the participants to implement the OTS scheme which has been devised to provide an enabling environment to the operative levels to effect recoveries.

“Under the scheme, which is non-discretionary and non-discriminatory, faster payment of OTS amount has been incentivized. For making full payment within one month from the date of sanction, the beneficiary of the scheme can avail an incentive of 5% of the amount arrived at as per the settlement formula while as those paying within two months can avail 2% of the OTS amount as incentive”, he said.

A detailed presentation covering all the features of the scheme was made on the occasion. The scheme is valid for 3 months till 16th September, 2022 with maximum repayment period of six months from the date of sanction. The sanction or otherwise for the scheme will be accorded and conveyed within seven working days from the date of receipt of application.

The function concluded with MD & CEO expressing hope that the operative levels will reach out to all the eligible borrowers under the scheme and make it huge success.

Notably, accounts classified as Doubtful 3 (NPA for 4 years and above) and Loss assets with outstanding amount below Rs 15 lakhs as on 31st March, 2022 are eligible for settlement, which include cases pending before Courts/DRTs besides those wherein the Bank has issued notice u/s 13(2) or taken action u/s 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI-2002).

Indian Terrain unveils newly redesigned flagship store in Srinagar
16 Corps is the most dynamic operational Corps of the Indian Army: LG Sinha
IGNOU projects, internship viva-voce from Jan 28 to Feb 7 at RC Sgr
DC Srinagar reviews implementation of Centrally Sponsored Schemes under Agriculture, Horticulture, Floriculture, Sericulture Departments
CBK files challan against 3 accused of illegally extracting insurance money 

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 J&K reports 25 new Covid cases, no fresh death
Next Article Militant killed in Anantnag encounter, Ops on
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

Tourism comes to grind halt in Sonamarg after Pahalgam terror attack
Kashmir
May 29, 2025
SKUAST-K to establish advanced reproductive biotechnology centre to enhance animal breeding
Kashmir
May 29, 2025
DC calls for intensified action against drug abuse at NCORD review in Gbl
Kashmir
May 29, 2025
Shikara operators continue to ignore mandatory safety protocols
City
May 29, 2025

Recent Posts

  • Tourism comes to grind halt in Sonamarg after Pahalgam terror attack
  • SKUAST-K to establish advanced reproductive biotechnology centre to enhance animal breeding
  • DC calls for intensified action against drug abuse at NCORD review in Gbl
  • Shikara operators continue to ignore mandatory safety protocols
  • IUST partners with government for building safer J&K

Recent Comments

  1. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral
  2. sree vishnu movies on Pahalgam attack shatters Kashmir’s film tourism revival
  3. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  4. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  5. dr gora on Women Veterinarians and the Goal of Viksit Bharat

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?