With a view to provide its clients comfortable ambience and better servicing space, J&K Bank today inaugurated new premises of its two Business Units (BU) in Sopore area of district Baramulla.

Chairman & MD R K Chhibber unveiled the inauguration stone at the state-of-the-art premises of BU Main bazaar Sopore besides the new premises of BU Younus Wahipora in presence of the bank’s President Chetan Paljor, Zonal Head Imtiyaz Ahmad Bhat amid a large gathering of valuable customers, senior and prominent citizens, businessmen and other residents. Cluster Heads, Heads BU M B Sopore and Younus Wahipora and other officers of the bank were also present on the occasion.

“Customers are much more than guests to us and all our efforts focus on making them comfortable and satisfied. And I feel pleased to see this business unit having a spacious ambience backed by state-of the-art technological support and manned by efficient and affable staff ”, said CMD while taking a walk through the new premises.

Shortly after the inauguration the CMD had a brief interaction with the customers and prominent citizens from the area.

Speaking on the occasion, the CMD said, “J&K Bank is the foundational institution of the region in terms of financial empowerment of people and the economic development of this place. We believe that customers are our business partners. J&K Bank is strong only because of the unfailing support of the people besides unflinching support from the J&K Government. Just recently the government committed to provide Rs 500 Cr capital infusion, for which the entire J&K Bank family remains grateful.”

Regarding the recruitments, he assured the audience that the bank was coming up with a fresh recruitment process notifying additional number of posts in both categories of POs and BAs. The process, he said, will be completed on fast track basis transparently and smoothly.  

Talking about the corporate governance, the CMD said, “During the last few quarters we have strengthened our corporate governance framework by implementing the RTI Act and have adopted CVC guidelines to enhance transparency and accountability in the functioning of the bank under a strong and capable board-of-directors, whose expertise and experience provides guiding light besides the required oversight”, 

Regarding the bank’s public outreach programs, he said, “Boosting the JK UT Government’s recent Financial Inclusion Outreach Campaign, the bank has organised scores of financial awareness camps besides a sustained media campaign across the UT of J&K to educate and include thousands of participants into the formal banking system.”

The participants thanked the bank’s CMD for sparing his valuable time for interaction and reiterated their loyalty towards, what they called, the back bone of the J&K Economy. They also raised come of the issues on the occasion which were mostly responded to on spot.

Earlier, while interacting with staff at the Zonal Office, the CMD lauded the bank’s staff for their commitment and dedication towards the institution.

Recollecting some recent experiences, the Chairman R K Chhibber said, “We have seen many ups and downs especially in the recent past but I appreciate the hard work of my entire staff due to which the worst is over now. We were quite comfortable till downgrading of IL&FS, which proved a pain point in the second quarter and we had to make 100 pc provisioning against the exposure.”

“We took care of the cash requirements of the people during the recent turmoil because we believe in helping people with genuine needs in the best possible manner within the regulatory frameworks of our functioning. After the turmoil, we along with other banks requested RBI through relevant platforms to extend the rehabilitation benefits applicable to the affected borrowers in the Union Territory. Some requests were acceded to and the benefits have been passed on also”, the CMD stated about meeting the genuine needs of the people, adding, “However, we cannot give any concessions to willful defaulters who are out there to harm the trust that our depositors keep vesting in us as a bank because it is the public money that we extend to people as loans. And let me put on record here that we did not act against any NPA account holder downgraded after August 2019.” 

“Some things that immediately need our immediate attention are recovery, upgradation of assets and regulatory compliance. We must follow the Annual Action Plans, dispose of the sponsored cases on priority and clear all pendency in this regard. And the most important thing that all of us need to bear in mind is that all our efforts and energies must revolve around the profitability of our business because income is paramount for smooth and successful functioning of every organization”, the CMD added.  

However, he cautioned them against any lackadaisical approach towards the customers and urged them to ensure discipline that befits the staff of the region’s leading financial institution. He asserted, “It is only through our best performance in all the domains of functioning, we can silence critics and adversaries.”

“Career progression is likely to begin in the new fiscal. And the management remains committed to the welfare and wellbeing of our staff and shall continue to do so in every possible way”, the CMD reiterated.

Earlier, President Chetan Paljor also spoke on the occasion and stressed upon the need to arrest slippages and enhance recoveries besides acknowledging the overall improvement in the business of Kashmir (N) Zone. “We have already cleaned the balance sheet and have a good Provision Coverage Ratio of 73 pc”, he said.

Zonal Head Kashmir (N) concluded the event by presenting the vote of thanks.