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| J&K Bank to have 1000 business units by March 2013: Chairman | | |  EARLY TIMES REPORT
Srinagar, Nov.5: Ahead of Eid celebrations, J&K Bank dedicated Shaheed Park, developed and maintained by the Bank, to the people of Pulwama while a business unit and an ATM were also inaugurated in Kaprin, a prominent village in district Shopian that has the distinction of having one of the highest literacy rates in the state.
J&K Bank is not just an economic institution but a part and parcel of J&K state’s history. It is an asset of the state created by the people of J&K. It has been there with you in times of pain as well as prosperity. Its ownership lies with the people of J&K and in turn the bank is obliged to share its profits with the people of the state.
This was stated by Mushtaq Ahmad, Chairman & CEO, J&K Bank while interacting with the public and customer gatherings at Kaprin and Pulwama.
Seeking peoples’ cooperation and support in taking J&K Bank to newer heights, Chairman urged the people “to bank only with the J&K Bank”.
“When I say people of the state of J&K should only bank with the J&K Bank, I say it with a matter of right and with the tremendous performance and outstanding contribution that J&K Bank’s direct as well as indirect financial intervention has made in changing the economic landscape of the state to back my claim”, he said.
“Our share in priority sector lending is 68% despite the fact that our branch share in J&K is just 36%. More than two-third of our branches and ATMs are in J&K, our recruitment drives are state-specific which can be guaged by the recent recritment, which happens to be the lagest recruitment drive in bank’s history, in the sense that more than 1500 young and talented boys and girls,all belonging to the state of J&K were absorbed in the services of the Bank, development and maintainence of parks, financial assistance to patients, poor, handicapped and other vulnerable sections of the society, preservation and propagation of state’s art, culture and heritage, promotion of sports activities etc.
Reiterating that the Bank was on track to meet the targets of business worth Rs. One Lac Crores and a net profit of Rs.1000 crores by the end of March 2013, Chairman said, “While we are working hard to meet the set targets, I would like to take this opportunity to share with you that the Bank plans to have 1000 branches by March 2013, the year that marks our Platinum Jubilee Year.”
Referring to the recent development of Govt. of India’s decision to bring J&K Bank in the ambit of Interest Subvention Scheme, Chairman expressed hope that this will further help the Bank to serve the farming community by extending loans on soft terms and subsudized rates.
As a corporate social responsibility chairman announced gift of 25 computers and Rs.3 lacs for the purchase of books for the library for Kaprin Higher Secondary School, which was highly appreciated by the management of the higher secondary school and the people.
M.S Sood, DDC Shopian, who was guest of honour and in whose presence Chairman inaugurated the branch, ATM and a small park at Kaprin in his speech described J&K Bank’s contribution towards alleviation of poverty and unemployment as outstanding. “I congratulate J&K Bank for scalling heights of excellence and I thank them for having chosen unbanked areas for extension of its branch network”, Sood said.
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