Shares of Jammu & Kashmir Bank surged by 8% to ₹102.37 following discussions between the Kashmir Chamber of Commerce and Industry (KCCI) and J&K Bank’s CEO Amitava Chatterjee. The meeting addressed significant business concerns, including the bank’s One-Time Settlement (OTS) scheme, staffing issues, and interest rate reductions aimed at alleviating financial burdens on borrowers.
KCCI emphasized the need for an overhauled OTS scheme, free of restrictive riders, and urged the bank to support borrowers facing Non-Performing Asset (NPA) status due to uncontrollable circumstances. J&K Bank’s CEO assured the delegation that the bank would review and modify its current policies to align with the needs of the local business community.
The discussions also covered streamlining credit processes, addressing staffing shortages, and ensuring better credit access for small traders and shopkeepers. Following the meeting, the stock gained momentum as investors anticipated positive changes from the bank’s proactive stance.
Stock Metrics:
- Current Price: ₹102.37
- Previous Close: ₹94.84
- Day Range: ₹94.84 – ₹102.37
- Market Cap: ₹10,650 crore (approx.)
- 52-Week Range: ₹30.80 – ₹102.37
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