Flash Floods Hamper Power Projects: An Economic Ripple in Jammu and Kashmir

Jammu and Kashmir Bank's MD, Amitava Chatterjee, reports delays in the Union Territory's hydel power projects due to recent flash floods. Despite challenges, the bank remains financially unscathed, and resilience shown by locals helps in recovery. The closure of the national highway impacts sectors like horticulture and tourism.

Jammu and Kashmir Bank's MD and CEO, Amitava Chatterjee, highlighted delays in hydel power projects caused by recent flash floods and heavy rains. The projects in the Union Territory are experiencing setbacks due to inclement weather, resulting in potential cost overruns.

While the bank remains financially stable, sectors such as horticulture and tourism have faced disruptions from natural calamities. Despite this, local resilience shines through as recovery efforts progress without substantial financial aid requests.

The bank's growth story remains strong, with plans to provide relief for affected areas and a positive outlook towards achieving record profits for the fiscal year 2025-26.

(With inputs from agencies.)