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| Another feather in J&K Bank's cap | | Fitch Ratings affirm AA with stable outlook | | | EARLY TIMES REPORTER
New Delhi, August 05 - Fitch Ratings has affirmed Jammu and Kashmir Bank's ratings at national long term 'AA( Ind)' with stable outlook, robust growth, international individual 'D' and support '4'. At the same time, the agency also affirmed the bank's Rs three billions subordinated debt issues at national long-term 'AA( ind)'.
Fitch Ratings is one of the three large global credit rating agencies. Fitch rates 5600 banks/financial institutions, including some 2500 insurance companies, more than 1300 major corporate houses and 99 sovereigns as well as public finance, sub-sovereigns and structured finance transactions.
The ratings reflect JKB's robust growth tier 1 capital ratio compared to other Indian banks, state government ownership, systemic importance to the state of Jammu and Kashmir (J&K) and its recent strategic shift to micro-lending in J&K.
As J&K presented limited growth opportunities in the 1990s due to militant insurgency, JKB had pursued a bulk deposit-funded wholesale lending strategy outside the state, in addition to holding a proporti... | |
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FRONT PAGE STORIES |
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| Leh Monks' murder story cracked in 31 hours | | | | EARLY TIMES REPORTER
Jammu, Aug 5: Leh, the cold desert of Himalayas has one special feature: normally crime does not take place there and if it happens the investigating agencies do not take much to solve the case. This has happened yet again.
In an exemplary case of speedy investigation, Leh Police has solved a double murder case within 31 hours by arresting two accused Nepalis. Meanwhile DGP, Shri Kuldeep Khoda, has announced a cash reward of Rs 50,000 in favour of the Police party which arrested the murderers.
According to SSP Leh, Mr. Alok Kumar, during the intervening night of August 3 and 4, two persons Lama Nawang Chultim 32, R/O Mulbek Kargil and Lama Tenzin Gilik 31, so... | |
| | | | Governor, CM, media persons mourn Kak's demise | | | | EARLY TIMES REPORTER
Jammu, Aug 5: The demise of veteran journalist BL Kak, who was New Delhi representative of the EARLY TIMES has been widely mourned by the people from different walks of life.
Governor Lt. Gen. (Retd) S. K. Sinha has expressed grief over the passing away of Kak, the veteran journalist who expired in New Delhi this morning.
Chief Minister Ghulam Nabi Azad has expressed profound grief and sorrow over the demise of Kak who breathed his last in a New Delhi hospital last night after brief illness. BL, as he was known among his colleagues, was the younger brother of veteran journalist, M. L. Kak. He is survived by his wife and two daughters.
In a condolence m... | |
| | | | Next CS from Jammu | | | |
EARLY TIMES REPORTER
Jammu, Aug 5: Sounding like the game of musical chairs, the top bureaucratic post of the state is all set to be conferred upon Jammu in next couple of months.
Chief Secretary C Phunsog, who is due to retire by the end of September, is almost certain to be replaced by the Financial Commissioner, Home, BR Kundal –a Jammuite. The post is yet against moves to Jammu after a gap of around three years as the last incumbent from the region was Dr Sudhir Singh Billowria.
Ahead of his retirement, Phunsog is reportedly proceeding on a month long leave, it is reliably learnt. Therefore, the would be Chief Secretary BR Kundal may take the charge well before it is officiall... | |
| | | | Party finds difficult to decide between Baig and Mir | | | | EARLY TIMES REPORTER
Jammu, Aug 6: With the possibility of cabinet expansion being round the corner, race has begin among the cadres of both coalition partners to find a place in the council of ministers which is expanding perhaps for the last time during present term of the legislature.
Sources said that the Chief Minister Ghulam Nabi Azad has obtained an approval from the Congress high command and therefore has cleared the decks for the cabinet expansion. A meeting between Azad and the coalition partner Mufti Mohammad Sayeed is yet to take place for making a consensus on the nominees, said sources. Sources further added that Azad and Mufti are most likely to meet or exchange notes o... | |
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