Chairman PHDCCI Jammu expresses gratitude to CMD J&K Bank for imposing commitment charges to account holders

JAMMU, January 11: In a order J&K Bank has issued following guidelines regarding commitment charges 

Commitment charges are delinked from sanctioned limit and instead linked with drawing power calculated monthly in the accounts which will directly benefit the borrowers as the drawing power is set based on business requirement for the month and not the whole sanctioned limit . 

Bank has reversed the excess charges applied w.e.f 01.07.2022 based on the revised guidelines and the structure has been revised to directly benefit the borrower .

Now There shall not be any commitment charges for the fresh working capital accounts for the consecutive two quarters and subsequently linked with drawing power calculated monthly . 

For cyclic activities like cold drink business , ice cream , juice , fruit traders and similar others to contact the branches for need based seasonal facilities in order to avoid the minimum utilization  criteria . 

PHDCCI Jammu Chapter Welcomed the decision taken by the management of J&K Bank and  said J&K Bank is our own bank and we all together have to grow further and this decision will stop the account holders to move from the bank to other options and suggested that regular interactions with stakeholders can really benefit us all. 


(NOTE: PRESS RELEASE PUBLISHED AS RECEIVED)