JKEDA concerned over ‘illegal’ deductions of the EMI’s

Srinagar: Jammu Kashmir Entrepreneurship Development Association held an emergency meeting at Hotel Pine Spring Wazir Bagh Srinagar under the chairmanship of Aijaz Ahmed in which numerous Entrepreneurs participated and discussed the various issues at length.

“The main issue which was stressed upon was the illegal deductions of the EMI’s (CC/ Term Loan Accounts) by J&K Bank and mental harassment of the Loanees by the Bank and deducting the money from the accounts without intimation of the Borrowers or Guarantors during the turmoil/unrest in the valley,” JKEDA said in a statement.

“These issue were discussed and the decision was taken that to give representation to the Chief minister of the state and before the chairman J&K Bank with regard to the above mentioned issues which are immediate and grave in nature to be addressed,” the statement added.

The Association has more than primary members of 3200 in all three provinces of all the three provinces are with Association and all members are and will remain steadfast with whatever decision taken by the Association in the welfare of the Entrepreneurs of J&K.

It was unanimously decided that if issued raised will not be addressed at the earliest then we will forced to take our issue and will hit the streets with the protests so that Govt has to take some decision with regard to save our future, the statement added.

It is to mention that JKEDA is the only trade organisation in the J&K having the multiple trades in one Union in which they have already given the choice of Govt Jobs and taking business/entrepreneurship as the way of livelihood for the life.

“The Association has decided to organise a peaceful sit in on Nov 23, 2016 at press enclave at 11.30 am so that our voice may reach to the deaf ears of the state Govt and the Chairman J&K Bank. We demand the interest free moratorium for the reestablishment of our units and if at all enhancement of the loans are needed that shall be provided in a hassle free and guarantor free manner.”

Download Our Android App and Stay Updated 24x7. Download Now