5th November 2011
Srinagar
J&K Bank to have 1000 business units by March 2013: Chairman
Dedicates Park to Pulwama people, inaugurates branch and ATM at Kaprin
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 Mr. 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.
Shafat Noor, DDC Pulwama, guest of honour on the occasion and in whose presence Shaheed Park was thrown open for the public, described J&K Bank as a role model both in terms of business approach as well as Corporate Social Responsibility. "J&K Bank has always been on the forefront of economic empowerment and social well being of the people of the state of J&K and parks of the sort which serve as lungs in urbanized areas is wonderful concept to adopt in CSR. I wish we all could take cue from the Bank's approach and work for multiplying the number of such recreational points", he emphasized.
Both the gatherings started with welcome address by Parvez Ahmad, Bank's Executive President. While welcoming the guests and other invitees, Parvez thanked them for gracing the occasion. He said, "This reflects their trust, confidence and expectations on J&K Bank". He also stated that the presence of the chairman, district development commissioners and other state administration functionaries for inaugurating the rural branches reflects their strong intent for equitable prosperity of the people of the state and also acknowledgement of the role of the J&K Bank in catalyzing the economic development of the state.
Vote of thanks by Syed Ashiq Hussain Zaidi, Bank's Zonal Head for South Kashmir. Others present on the occasion included Mohammed Afzal Khan, Bank's President, Syed Abdul Hamid, Bank's Vice President, Manzoor A. Suharwardi, Cluster Head, Syed Attaullah Simnani, Additional DDC, Shopian, Tariq Ali Mir, Additional DDC, Pulwama, Mumtaz Ahmad, SP Shopian, and other senior officers from the Bank and district administrations. At both the places the gatherings were well attended by the prominent citizens and valuable customers of the bank.
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 Mr. 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.
Shafat Noor, DDC Pulwama, guest of honour on the occasion and in whose presence Shaheed Park was thrown open for the public, described J&K Bank as a role model both in terms of business approach as well as Corporate Social Responsibility. "J&K Bank has always been on the forefront of economic empowerment and social well being of the people of the state of J&K and parks of the sort which serve as lungs in urbanized areas is wonderful concept to adopt in CSR. I wish we all could take cue from the Bank's approach and work for multiplying the number of such recreational points", he emphasized.
Both the gatherings started with welcome address by Parvez Ahmad, Bank's Executive President. While welcoming the guests and other invitees, Parvez thanked them for gracing the occasion. He said, "This reflects their trust, confidence and expectations on J&K Bank". He also stated that the presence of the chairman, district development commissioners and other state administration functionaries for inaugurating the rural branches reflects their strong intent for equitable prosperity of the people of the state and also acknowledgement of the role of the J&K Bank in catalyzing the economic development of the state.
Vote of thanks by Syed Ashiq Hussain Zaidi, Bank's Zonal Head for South Kashmir. Others present on the occasion included Mohammed Afzal Khan, Bank's President, Syed Abdul Hamid, Bank's Vice President, Manzoor A. Suharwardi, Cluster Head, Syed Attaullah Simnani, Additional DDC, Shopian, Tariq Ali Mir, Additional DDC, Pulwama, Mumtaz Ahmad, SP Shopian, and other senior officers from the Bank and district administrations. At both the places the gatherings were well attended by the prominent citizens and valuable customers of the bank.