The Chamber of Commerce and Industry Kashmir (CCIK) has expressed its gratitude to the Jammu and Kashmir Bank for extending the repayment deadline under its Special One-Time Settlement (OTS) Scheme. The new deadline is now September 1, 2025, a two-month extension from the original date. CCIK President Tariq Ghani welcomed the decision, praising the bank’s leadership, particularly Managing Director and CEO Amitava Chatterjee, for understanding the challenges faced by business owners and taking timely action to support them.
The extension is expected to bring much-needed relief to the business community in Jammu and Kashmir, which is still recovering from recent economic setbacks. The region’s tourism and hospitality sectors were severely impacted by the April 22 incident in Pahalgam, and the business community is still feeling the effects. The OTS Scheme extension will help alleviate financial stress and restore confidence among small and medium business owners.
Ghani also thanked Lieutenant Governor Manoj Sinha, the Chief Secretary, and other senior government officials for their role in facilitating the extension. He noted that such measures are crucial in preventing further financial stress and promoting economic growth in the region. The business community, particularly those in the hospitality, retail, and services sectors, has received the news with great appreciation.
The extension of the OTS Scheme is seen as a vital relief measure that will benefit not only the business community but also the common people of Jammu and Kashmir. The CCIK has praised the Jammu and Kashmir Bank for its responsiveness and commitment to supporting the local economy. The decision is expected to have a positive impact on the region’s economic recovery and growth, and the CCIK has expressed its gratitude to all stakeholders involved in making this decision possible. Overall, the extension of the OTS Scheme is a significant development that is expected to bring relief and stability to the business community in Jammu and Kashmir.