PULWAMA — The Jammu and Kashmir Fruits & Vegetables Processing and Integrated Cold Chain Association (JKPICCA) has sought sector-specific banking reforms from Jammu and Kashmir Bank to support the horticulture and cold-chain industry, besides proposing ₹5 crore in Corporate Social Responsibility (CSR) assistance for the beautification and environmental development of SIDCO Industrial Growth Centre, Lassipora.
In a memorandum submitted to the bank, the association called for competitive lending rates, flexible repayment arrangements and timely disbursement of loans to support horticulture-based enterprises, cold storage facilities and food-processing units across Jammu and Kashmir.
Highlighting the seasonal nature of the horticulture sector and its substantial capital requirements, JKPICCA urged the bank to rationalise lending margins, extend interest concessions to eligible projects and introduce suitable financial incentives for modernisation, energy efficiency and expansion of post-harvest infrastructure.
The association also sought streamlined loan-processing procedures, reduced turnaround times for sanctions and disbursements, and a time-bound mechanism for document verification. It suggested prompt communication of deficiencies, reduced repetitive documentation and the appointment of a nodal officer to address the concerns of horticulture and cold-chain enterprises.
The memorandum further called for a transparent audit mechanism that allows borrowers a reasonable opportunity to respond to observations and rectify procedural deficiencies. JKPICCA also urged the bank to examine the possibility of reducing or waiving processing fees, foreclosure charges, takeover charges and other incidental costs for eligible units, wherever permissible under applicable regulations.
In a separate proposal, the association sought ₹5 crore in CSR assistance from J&K Bank for the beautification, landscaping and environmental improvement of SIDCO Industrial Growth Centre, Lassipora.
Describing SIDCO Lassipora as an important industrial hub, JKPICCA said the area houses controlled-atmosphere (CA) storage facilities, horticulture-based enterprises, food-processing units and manufacturing establishments, while supporting substantial employment.
The association said the proposed CSR assistance could help develop a cleaner, greener and better-organised industrial environment for businesses, employees, visitors and the surrounding community. It also offered to coordinate with relevant stakeholders to identify priority areas and facilitate implementation through an authorised mechanism with proper monitoring, financial accountability and maintenance arrangements.
JKPICCA further called for regular consultations between J&K Bank and representatives of the horticulture and cold-chain industry to review sector-specific credit requirements and develop practical solutions to recurring financial challenges.
Urging the bank’s management to consider both proposals favourably, the association said improved access to finance and better industrial infrastructure could encourage investment, generate employment and contribute to Jammu and Kashmir’s sustainable economic development.
The association also expressed its willingness to meet the bank’s senior management to discuss the proposals and work towards solutions that strengthen the region’s horticulture-based economy. — (KIMS)