J&K Bank today opened a Business Unit (BU) at Watergam, Baramulla amid a huge gathering of senior citizens, traders and local residents.
Founder President All Valley Fruit Growers Association, Ghulam Mustafa inaugurated the BU in presence of Vice President & Zonal Head (North Kashmir) Nazir Ahmad Parimoo.
Speaking on the occasion, Ghulam Mustafa thanked the Bank management for opening the branch at Watergam and assured of full cooperation from the local population.
He said that Horticulture was a national industry which engaged more than two million people directly or indirectly for their livelihood.
The total turnover of the fruit industry, he said, was in hundreds of crores in the state.
He urged people to be honest in their dealings with the Bank particularly with respect to the repayment of the loans and advances taken from the Bank.
He also requested for softer measures with respect to recovery.
Addressing the gathering, Vice President appreciated the support that people of the area have been providing to the bank.
He also informed the gathering about the recovery mechanism and policy of the bank which, he said, is humane and flexible.
He also referred to the globally benchmark practices where in the banking industry was supposed to have clear balance sheets with minimum NPAs for survival.
The existence of NPAs not only weakens the fundamentals of the Bank but also of the whole nation, he said. Earlier, welcoming the people of the area Cluster Head I Ghulam Rasool congratulated them for their long pending demand of having the Bank's branch was met. He gave detailed account bank's schemes – both advances and deposit schemes and urged the people to take full benefit of the schemes.
Mohammad Maqbool Shah Senior Executive Manager Zonal Office North presented the vote of thanks.