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Media not being ‘compensated proportionate’ to hard work, J&K Bank Chairman

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Srinagar, Dec 14: We understand your difficulty of not being compensated proportionate to your hard work, Jammu and Kashmir Bank Chairman Parvez Ahmad said on thursday.

J&K Chairman and CEO made these remarks at the launch of “J&K Bank Sahafat Finance Scheme” at its corporate head quarters in Srinagar.

“This kind of easy access to finance, we hope, will enable you to harness your talent and enhance the monetary returns on your work”, Parvez said.

The bank chairman said that every district in the state ‘now boasts of several local news and magazine editions, not to talk of, hundreds at the state level’.

Understanding and realizing the uninterrupted contribution made by the local Media persons – Journalists, Reporters, Camera men, printers, publishers in highlighting the problems and issues faced by the people of the State especially during past few decades by risking their lives, Parvez told the gathering,  J&K bank has decided to recognize media as a viable sector. “Thus Financial Empowerment by way of easy loan schemes will become an enabler for our media persons to undertake it as a full time profession with decent economic returns.”

The purpose of the unique scheme is to provide easy and hassle-free finance to media persons for personal and professional needs on urgent basis. The maximum credit of Rs 3 lacs repayable in 60 EMI’s shall be provided in form of term loan for purchase of cameras, tablets, laptops etc and revolving cash-credit facility to meet routine money needs.

“With minimum rate of interest, the scheme also offers an insurance cover of Rs 4 Lacs against an annual premium of Rs 342 to be borne by the borrower,” bank said.

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