24th September 2011
Srinagar
J&K Bank opens 557th Business Unit at Maagam.<i>We feel proud of your association, says Exec. President</i>
J&K Bank today opened its 557th Business Unit (B/U) at Court-road Maagam in District Budgam.
Executive President Mr. Tafazal Hussain inaugurated the B/U amid a huge public gathering and in presence of Zonal Head Bashir Ahmad Lone, Cluster Head Budgam Mr. Vaqar-ul-Mulk Nazki.
On the very first day of inauguration, the B/U opened 175 accounts and mobilized deposit amount of Rs 1.02 Crores.
Speaking on the occasion, Executive President said that he felt honoured to inaugurate the 2nd B/U in Maagam which is among the major growing business centres of Kashmir valley in general and Budgam district in particular. "It has all the more importance to be on the path leading to famous international tourist resort of Gulmarg and can also be developed as a feeder to rural tourist resort," he said.
Congratulating the people in general and of the area in particular, he said, "While doing this, we feel proud of your association and believe you will continue to be generous in your support and cooperation."
Under the guidance of Chairman Mr. Mushtaq Ahmad, we all down the line think, formulate and implement Bank's policies with sole aim to serve you better and strengthen the economy of the state."
He urged the gathering to develop self-confidence so that the huge economic potential of the J&K state can be exploited not only for us but future generations. "We must involve in local economic activities to create our livelihood rather to look for easy money jobs," he said.
Dwelling upon some of the details of Bank's expansion policy, Mr. Tafazal said, "By 31st March, 2012 at least 135 additional B/U's, which includes 15 in district Budgam, will be opened across the state to provide financial services to more and more people and help develop the state economy in a better way".
70% of the credit needs of the state, he said, are being taken care of by J&K Bank alone while in terms of branch network our share is 32%. Tourism, Horticulture and Handicrafts are three golden segments of our economy, if taken care well financially can do wonders for the state economy, he added.
Expounding upon the unique features of J&K Bank, he further stated, "We not only accept 12 lac electricity bills but serve patiently more than 7 lac beneficiaries of state's social welfare beneficiaries. To augment our expansion policy with sufficient human resource, we will soon engage the services of a good number of bright educated youth which shall also help to alleviate the inconveniences to people, if any, because of insufficient staff at some B/U's. In CSR, we lead from the front. "
Besides RSETI's to harness the skills of youth for making their livelihood better, we have already started financial counseling at various places to educate the people about our products, services and related procedures of loaning, documentation etc., he added. Also present on the occasion, Mr. Bashir A Lone said, "J&K Bank is a movement to make the economy of state more robust and vibrant."
He urged the gathering to focus more on agriculture-related activities like sheep-farming, apiculture, fish-culture etc ., so that more and more things of local consumption are produced within the state. He promised total financial support for all such ventures from the Bank to the people.
Mohammad Ibrahim Mir, Chairman Co-ordination Committee Maagam thanked the state government headed by Chief Minister Mr. Omar Abdullah, Bank's Chairman Mr. Mushtaq Ahmad and management for acknowledging the importance of Maagam as growing business center and assured of complete support and cooperation from people of the area.
Earlier, Cluster Head Mr. Nazki while welcoming the guests said that J&K Bank believed in serving to empower people and make them self-reliant.
Executive President Mr. Tafazal Hussain inaugurated the B/U amid a huge public gathering and in presence of Zonal Head Bashir Ahmad Lone, Cluster Head Budgam Mr. Vaqar-ul-Mulk Nazki.
On the very first day of inauguration, the B/U opened 175 accounts and mobilized deposit amount of Rs 1.02 Crores.
Speaking on the occasion, Executive President said that he felt honoured to inaugurate the 2nd B/U in Maagam which is among the major growing business centres of Kashmir valley in general and Budgam district in particular. "It has all the more importance to be on the path leading to famous international tourist resort of Gulmarg and can also be developed as a feeder to rural tourist resort," he said.
Congratulating the people in general and of the area in particular, he said, "While doing this, we feel proud of your association and believe you will continue to be generous in your support and cooperation."
Under the guidance of Chairman Mr. Mushtaq Ahmad, we all down the line think, formulate and implement Bank's policies with sole aim to serve you better and strengthen the economy of the state."
He urged the gathering to develop self-confidence so that the huge economic potential of the J&K state can be exploited not only for us but future generations. "We must involve in local economic activities to create our livelihood rather to look for easy money jobs," he said.
Dwelling upon some of the details of Bank's expansion policy, Mr. Tafazal said, "By 31st March, 2012 at least 135 additional B/U's, which includes 15 in district Budgam, will be opened across the state to provide financial services to more and more people and help develop the state economy in a better way".
70% of the credit needs of the state, he said, are being taken care of by J&K Bank alone while in terms of branch network our share is 32%. Tourism, Horticulture and Handicrafts are three golden segments of our economy, if taken care well financially can do wonders for the state economy, he added.
Expounding upon the unique features of J&K Bank, he further stated, "We not only accept 12 lac electricity bills but serve patiently more than 7 lac beneficiaries of state's social welfare beneficiaries. To augment our expansion policy with sufficient human resource, we will soon engage the services of a good number of bright educated youth which shall also help to alleviate the inconveniences to people, if any, because of insufficient staff at some B/U's. In CSR, we lead from the front. "
Besides RSETI's to harness the skills of youth for making their livelihood better, we have already started financial counseling at various places to educate the people about our products, services and related procedures of loaning, documentation etc., he added. Also present on the occasion, Mr. Bashir A Lone said, "J&K Bank is a movement to make the economy of state more robust and vibrant."
He urged the gathering to focus more on agriculture-related activities like sheep-farming, apiculture, fish-culture etc ., so that more and more things of local consumption are produced within the state. He promised total financial support for all such ventures from the Bank to the people.
Mohammad Ibrahim Mir, Chairman Co-ordination Committee Maagam thanked the state government headed by Chief Minister Mr. Omar Abdullah, Bank's Chairman Mr. Mushtaq Ahmad and management for acknowledging the importance of Maagam as growing business center and assured of complete support and cooperation from people of the area.
Earlier, Cluster Head Mr. Nazki while welcoming the guests said that J&K Bank believed in serving to empower people and make them self-reliant.