Srinagar, Jan 18 (PTI) The Kashmir Youth Entrepreneurs Federation (KYEF) on Tuesday welcomed the special one-time settlement scheme announced by Jammu and Kashmir Bank for its NPA (non-performing asset) account holders saying it will ease the difficulties of the stressed business units.

"We welcome the special One Time Settlement Scheme for NPA account holders of the bank," KYEF President Babar Chowdhary said in a statement.

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Chowdhary expressed hope that J&K Bank's new scheme will ease out the difficulties of the business units of the Union territory of Jammu and Kashmir.

"We hope that the bank management will keep the current COVID-19 conditions in consideration and give ample time for applications and repayments of SOTS," he said.

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"The timely decision of SOTS launch by J&K Bank will make an opportunity for all the business community, transporters and allied tourism-related industries of Jammu and Kashmir to keep the business momentum going at the top for all seasons," Chowdhary added. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)