Hit By Shutdown, Kashmir Trade Bodies Allege Harassment By Banks

Several newspapers in Kashmir on Friday published a full-page advertisement with a bold heading: “We owe you money, not respect and honour.” The unusual advertisement was published on behalf of 22 Kashmiri trade bodies who allege they are being threatened by banks and called ‘defaulters’. The trade bodies also alleged that the banks are threatening them with asset possession. They asked the banks to be humble and compassionate while making recoveries. In the advertisement, the trade bodies, including Kashmir Chambers of Commerce and Industry (KCCI) and Kashmir Traders and Manufacturers Federation, said that after August 2019, the business community was completely devastated and exhausted.