Sahafat Finance Scheme rolled out

GJ REPORT
JAMMU, DEC 23: J&K Bank Chairman & CEO Parvez Ahmed today rolled out “J&K Bank Sahafat Finance Scheme” for journalists and others working in various media organisations.
In this connection, an impressive function was held at Press Club of Jammu (PCJ) today. The Chairman was also felicitated by the Club.
Bank’s Executive presidents Vagesh Chander, S S Sehgal, president Press Club Ashwani Kumar, Vice president PCJ Abhimanyu Sharma, Secretary Finance PCJ Dinesh Manhotra and senior management of the bank, senior journalists and personnel working with different newspapers, channels and other media-outlets.
The PCJ management headed by its president Ashwani Kumar presented a memento and a shawl to the chairman Parvez Ahmed. Besides, the Chairman was presented honorary membership of the club on the occasion.
While addressing the club members and media persons, Chairman Parvez Ahmed appreciated their role in maintaining the credibility of institution of Journalism while working in difficult conditions. He made certain significant announcements on the occasion, which include a reduction in Rate of Interest by 30 basis points for the Sahafat scheme, a donation of Rs 5 lakh to the Welfare Fund of Journalists of the Club and adoption of Press Conference Hall of the club in the memory of late Ashok Sodhi for renovation and upgradation. The Chairman also announced installation of automated teller machine (ATM) and cash deposit machine (CDM) in the precincts of the club.
“On the insistence of media community, we have decided to reduce the rate of interest of this scheme by 30 basis points which now stands at 11.90 percent,” the Chairman said.
To name a few, people like Sham Koul, Ved Bhasin, Kamal Romitra, M L Kak, O N Koul, Ashok Handoo, Ashwani Kumar and Ashok Sodhi have played an exemplary role in the field of journalism”.
Earlier, in his welcome address, president PCJ, Ashwani Kumar apprised the audience about the role of the only Press Club in the state.
Vice-president Rakesh Gandotra (S&BD) gave a comprehensive account of the scheme that has been uniquely tailored for the media persons.
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 lakh 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 lakh against an annual premium of Rs 342 to be borne by the borrower.