J&K Bank Assures Uninterrupted Services Amid Tensions, Resolves EMI-CIBIL Issue for Salaried Employees: MD

“Our top priority is the safety of our employees. But as an essential service, we are equally committed to ensuring the public continues to access banking without difficulty,” Chatterjee said, following an internal review meeting.

He stated that the bank has a robust Standard Operating Procedure (SOP) as part of its Business Continuity Plan, ensuring that essential services continue even during connectivity outages.

On the possible financial impact, Chatterjee downplayed fears of loan defaults, noting that only 1% of the bank’s loan book is linked to tourism, the sector most likely to be affected. He praised the region’s strong repayment culture, noting that defaults have historically remained low even in adverse conditions.

Addressing recent concerns from salaried employees over credit score dips, he explained that early salary credits and end-of-month EMI schedules had led to temporary defaults. The bank has since adjusted EMI dates to ensure timely deductions and restored confidence by preventing CIBIL score damage going forward.

While acknowledging the delay in resolving the issue, Chatterjee emphasized that corrective action has been taken. He expressed optimism about the upcoming Amarnath Yatra, saying it could help revive tourism and restore economic momentum in the region.(KNS)