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| 'J&K Bank should aim to achieve status of international bank' | | | Early Times Report
JAMMU, Mar 17 : Jammu and Kashmir Chief Minister Omar Abdullah today said J&K Bank should now target to achieve the status of international bank.
"You are already one of the best banks in the country and your new target should be to achieve the status of an international bank for which you possess better scope than other banks," he said while inaugurating 111th business units and ATMs of the Bank here.
"The state government owns J&K Bank but it is my considered opinion that government should not run the affairs of the bank as it would prove fatal to its functioning and growth," he said adding that he is keen to keep Jammu and Kashmir Bank apolitical and without any interference from the government.
"We want Jammu and Kashmir Bank to be a real friend of the people and provide them liberal financial support to raise business and start economic ventures", Abdullah said.
He, however, added that support from the government to the bank will continue.
The Chief Minister lauded the bank for showing remarkable growth and development in business and lending under the new initiative. "You not only have to strengthened your position but expanded your business," he said.Underlining the role of strong and vibrant financial institutions in the development of core economic sectors, particularly Micro, Small and Medium Entrepreneurship (MSME) in the state, Omar asked the Jammu and Kashmir Bank to plough investment in these areas extensively to give fillip to the economic prosperity and progress of the state.
"Local industrial units function under all circumstances. Their business is not dependent upon the packages and tax concessions. They are not closing their units with the closure of special packages, as such, contribute regularly in economic growth of the state," he said.
He said investment and liberal lending by Jammu and Kashmir Bank to the handicrafts, tourism, agriculture and allied sectors is also of immense importance to enhance economic activities and generate employment.Referring to the location disadvantage of state for heavy and large industries, the Chief Minister underlined the importance of focusing on SMSE, agriculture and allied sectors. |
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