On Tuesday, J&K Bank MD & CEO Baldev Prakash called upon Governor, Reserve Bank of India, Dr Shaktikanta Das in Mumbai. He also interacted with the Deputy Governor Michael Patra during his visit to the RBI Headquarters.
On the occasion, Governor RBI Dr Shaktikanta Das acknowledged the Bank’s systemic significance in J&K, Ladakh and urged the Bank’s leadership to redouble its efforts towards meeting the economic goals of both the Union Territories. He emphasized upon being fully compliant with regulatory guidelines and above all meeting stakeholders’ expectations.
Earlier, MD & CEO Baldev Prakash briefed the Governor about Bank’s leading role and contribution in J&K and Ladakh *in particular and other parts of the country as well* towards realizing the RBI’s vision of a wider, inclusive and sustainable economic growth through greater financial inclusion. He also apprised Governor about corporate governance, succession planning, growth strategy, technology upgrade, NPA recovery, raising of capital besides some recent initiatives taken by the Bank to improve its functioning.
Meanwhile in a separate meeting, Deputy Governor Dr Michael Patra appreciated the good work done by the Bank. Wishing the Bank best for its future endeavours, he also stressed upon the need to do more to continue doing business as per expectations of the regulator. During the interaction, MD & CEO informed the Deputy Governor that a culture of compliance, transparency and accountability has been instituted firmly at J&K Bank to make it one of the best financial institutions of the country in terms of organisational functioning.