Bank to transcend its formal boundaries to start BBA & MBA (Banking & Finance) courses

  • Srinagar
  • 04 Apr 2019

Parvez Ahmed lays foundation stone of Bank’s Knowledge Centre ILM (Integrated Learning and Multi-Utility Centre) at Srinagar.

Parvez Ahmed, Chairman and CEO, J&K Bank today laid the foundation stone of JK Bank’s Knowledge Centre ILM (Integrated Learning and Multi-Utility Centre) at Srinagar in presence of Executive Presidents P K Tickoo, R K Chhibber, Presidents, Zonal Heads, Cluster Heads and other senior officers of the Bank besides a number of prominent citizens in a simple but impressive function. Planned on the lines of Green Building Concept, the proposed sprawling and completely eco-friendly complex of the Bank will house the Bank’s Staff Training College, first-of-its-kind Staff Housing Facility in the valley, Executive Guest House along with Health & Wellness Center, Mosque besides a 24x7 IT Operations Division, Mega Currency Chest and Examination Hall, a state-of-the-art auditorium and Centralized Records Venue. The center will have a 3-level parking basement accommodating about 1000 cars.

After laying the foundation stone, Chairman J&K Bank unveiled the three dimensional model of the Bank’s ILM Center in presence of Architectural Consultants Ratan J Batliboi, Tasaduq Kher and Zainab Sarawala, who gave a detailed overview of the upcoming project to the rapt audience.

Commenting on the upcoming infrastructure the Chairman J&K Bank said, “The iconic building on the banks of Jhelum will be a true manifestation of the spirit of Kashmiryat and resonates with the history of Kashmir as centre of learning. It will showcase the creativity, inclusivity and composite culture with compassion for the environment which are the hallmarks of the people of the state in general and staff of the Bank in particular. The building will be a reflection of Kashmiri conscience which has always upheld coexistence of multiple faiths in a harmonious environment since time immemorial”.  

“It is a challenging project and we have the best consultants Ratan J Batliboi and team who are working hard to materialize the dream project of the Bank. Our focus has been on protecting the ecosystem, flora and fauna of this area and the prime consideration is to conserve River Jhelum at any cost. The buildings will be made high above the flood line and contours will be used to create basement parks. Besides, there will be river transport from ILM Center to the Bank’s CHQ. ”said the Chairman

Speaking about the importance of physical infrastructure he said, “Physical Infrastructure is the primary aspect which conveys immediate presence of a Brand. It is like the first impression of an organization. Though all the Chairmen in the Bank made meaningful contributions in their respective unique ways, I think it was under the leadership of M Y Khan Sahib that we realized the importance of physical infrastructure for creation of Brand Equity and successfully so. The Bank was recognized at the national and international levels with its Corporate Headquarters, Zonal Office Buildings, modern state of the art business units, residential units for the staff at major locations outside the state. The best institutions strive to create best assets and the intent behind this exercise is what message we want to spread across as to who we are!”

Addressing the staff Parvez Ahmed said, “All of us are aware that with numerous changes in the banking sector the focus of HR now is on other objectives such as developing the next generation skill sets, develop transformative leaders and drive all talent related decision making based on data and analytics. Over the years after implementation of the People System in the Bank we have achieved a fair degree of administrative efficiency in processes involving Human Resource. We are now aiming to develop performance management systems that can help us better gauge the performance continuously, link organization goals to individual goals and enhance the productivity of our existing work force. Various banking processes have either been eliminated or completely restructured due to the fast changed banking and FINTECH interventions, therefore requiring our operational employees to focus on other processes such as enhancing the customer experience with us or collaborating as a team towards business development. The new ways of service delivery has posed a considerable challenge to us to keep our work force ready and equipped to perform through effective learning platforms”.

“The Bank was earlier going through a very difficult phase and now when we have felt that the challenges facing the Bank two years back have been overcome by and large, we need to invest ourselves in upgrading the skill sets of the members of the J&K Bank Family especially the new members of the family not only to enhance their knowledge about banking but also to instill a sense of belongingness to the institution and the people of the state whom we serve to empower.”

“We have a big responsibility being the Bank of first choice for our people along with having a systemic importance for the economy of the state and I am glad that team JK Bank has time and again demonstrated an exceptional character by earning the trust and making the fastest turnaround with seven consecutive quarters of profitability up to Dec 2018. I still remember there was a lot of pessimism when we plunged into the loss in 2017 due to burgeoning NPAs catalyzed by overall degradation of banking environment coupled with legacy of NPAs in our balance sheet but J&K Bank arose like a Phoenix due to the indomitable spirit of all of us “asserted Parvez Ahmed.

Expressing deep appreciation for the dedicated staff of the Bank he said,” I think our staff deserves the credit for making extraordinary efforts by working day and night to execute the Bank’s turnaround strategy and making one of the fastest turnaround in the banking industry with seven quarters of continuous and sustained profitability. As I have already declared in a categorical manner that the worst is now behind us and Bank is poised for strong growth and profitability going forward. We have just closed a hectic financial year in a challenging environment with a good set of numbers due to your efforts. The way our growth and numbers are behaving I am sure that we are well on course to achieve our targeted profit of Rs 2000 Cr in FY 2022.

Emphasizing the importance of up gradation of skills in a fast changing banking landscape he said, “Continuous learning and embracing change are the key skills to succeed in current dynamic environment, be it businesses or society at large. Bank’s knowledge centers being constructed in Jammu and Srinagar are manifestation of this very thought and has been a cherished vision of the Bank. It is also recognition of the inherent strength of this organization, its passionate human capital with undying spirit, resilience and hard work. We are aiming at a future ready organization by focusing on capacity building with continuous learning as the bedrock for leveraging the inherent potential of our bright talented staff.”
Delineating his vision for the role of J&K Bank as a premier financial institution the Chairman and CEO Parvez Ahmed said, “we have a desire and vision to transcend the formal boundaries of a financial services organization to create the best education infrastructure for the exceptional human capital of the state who are genetically predisposed to brilliance since time immemorial. We want to start courses in BBA and MBA in Banking and Finance to produce future leaders in the segment to cater not only to the requirement of J&K Bank but shall also make a mark at the national & Global level. It will become an option at the 10+2 level for children who wish to contribute in the financial services sector”
Earlier, Executive President R K Chhibber in his welcome address extolled the Chairman for his vision and commitment towards the welfare of the staff, “Today is a momentous day for the Bank and it coincides with Meraj ul Alam and the name has been conceptualized by the bank under the guidance of the chairman. The building has been named ILM center which means the center of knowledge and will be certainly become a landmark in the Srinagar city”, he added.

Executive President P K Tickoo also spoke on the occasion saying, “It is a thought. It is a process and not a mere building. It will set in motion many great things in the future. It is going to be the start of a new era and we will behold the dawn of success as an institution”.

Touching aspects of Navratra and its related customs like Thali and Jantri, “As per tradition whoever would see the Thali first would attain great knowledge. I wish when this building is completed I am the first one to enter the library”

On the occasion, cash prizes and mementos were given to Naatkhwaans, students from Payam Educational Academy and Vitasta Music Institute along with the instructor Ajaz Sahir.
The function concluded with vote of thanks by Vice President Sushil Kumar Gupta, who extended gratitude to the Chairman, entire management present on the occasion and thanked all the departments, children, vendors, security guards and all those who made the event a success.