JK MONITOR - JKLFC extends relief to Borrowers under Settlement Scheme-2026

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October 2026

Details: Written by: JK Monitor News Network; Category: TechEcoSci; Published: 22 July 2026

Six NPA Accounts settled, ₹ 3.36 crore interest waived

SRINAGAR: The Settlement Committee of the Jammu & Kashmir and Ladakh Finance Corporation (JKLFC) met under the chairmanship of the Managing Director to consider settlement of seven Non-Performing Asset (NPA) loan accounts under the Settlement Scheme-2026 (SS-2026).

The Committee approved settlement proposals in respect of six NPA loan accounts involving a total settlement amount of approximately ₹ 84.43 lakh, subject to the borrowers depositing the approved settlement amounts within the stipulated period and fulfilling all the provisions of the scheme. One settlement proposal was deferred pending submission of an updated legal status report and legal opinion.

The Board of Directors, in its 247th meeting held on 31st December 2025, had approved the introduction of the Settlement Scheme-2026 (SS-2026). The scheme came into force with immediate effect and shall remain in operation up to 30th September 2026.

The scheme has been introduced as a One-Time Settlement (OTS) mechanism to facilitate recovery of long-pending Non-Performing Assets by providing eligible borrowers an opportunity to liquidate their outstanding loan liabilities on concessional terms, thereby improving recoveries and reducing the Corporation's NPA portfolio.

The Managing Director emphasized that the scheme is an important initiative to recover long-pending dues, facilitate closure of stressed loan accounts, and safeguard the financial interests of the Corporation. He directed all Branch Heads and District Officers to expedite identification of eligible cases and ensure prompt processing and submission of settlement proposals.

The Corporation reiterated its commitment to strengthening its recovery mechanism and improving the quality of its loan portfolio through effective implementation of the Settlement Scheme-2026. Eligible borrowers have been advised to avail the benefits of the scheme before its expiry on 30th September 2026.

October 2026

Your voice can reach the world: At JK Monitor, we firmly believe that every well-researched idea has the power to inspire change beyond geographical boundaries. We are delighted to share an encouraging message from one of our esteemed contributors, Dr. Rakesh Verma (J&K Forest Services). “His article, ‘When Trees Become Rights-Bearing Citizens: A Lesson from Canada for India’s Ecological Future,’ published on JK Monitor, received appreciation from La Compagnie des Papillons Bleus, the French non-profit organisation that founded and promotes the Universal Declaration of Tree Rights.”. Read the message here

In loving memory of Dr. Priya Ranjan: A mentor who treated me like family

I will always remember Dr. Priya Ranjan not only as the Chairman of JK Monitor, but as a mentor, guide and elder brother whose kindness profoundly shaped my life and work. Write a tribute at In Loving Memory · Dr. Priya Ranjan

When he appointed me Editor-in-Chief of JK Monitor, he never treated me as an employee, but as a younger brother, offering warmth, trust, respect and invaluable guidance. I will always be grateful for his faith in me, his encouragement and the lessons he shared.

Dr. Ranjan was a rare and noble soul—humble, compassionate, intellectually brilliant and always willing to help others. A visionary thinker, he believed in using knowledge and abilities to make a meaningful difference. His influence lives on through the people he guided, the work he inspired and the countless lives he touched.

For me, he will always be the elder brother who believed in me and guided me with affection. I will cherish his kindness and lessons forever. May his soul rest in eternal peace. He will be deeply missed and never forgotten.

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We at JK Monitor are profoundly saddened by the sudden demise of our Founding Chairman, Dr. Priya Ranjan. IN LOVING MEMORY Dr Priya Ranjan

A brilliant mind who studied at Netarhat Residential School and graduated in Electrical Engineering from IIT Kharagpur before earning his PhD from the University of Maryland, Dr. Ranjan chose to return to India and dedicate his life to teaching, research and social good.

His pioneering work in networked systems, AI, robotics and biomedical applications—especially computer-vision tools for early detection of cancer and heart disease—reflected his deep belief that advanced technology must serve humanity.

For more than 15 years at JK Monitor, he remained a loyal friend, mentor and collaborator, marked by rare humility, intellectual integrity and quiet generosity. His passing leaves a void that cannot be filled. Priya, you will be deeply missed. Your life continues to remind us that knowledge finds its highest purpose in the service of others.

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