J&K Bank attains 75 year age, celebrates Platinum Jubilee Omar for further improvement in CSR, CD ratio Appreciates performance, growth of J&K Bank Chidambaram for opening more J&K Bank branches in Country, overseas Tara Chand, Rather, Mushtaq list achievements of J&K Bank SRINAGAR, OCTOBER 01 – While congratulating the Jammu and Kashmir Bank on its Platinum Jubilee, Chief Minister Omar Abdullah Tuesday said that the past of Bank has been amazing and if it continues to grow and improve like that its future will be brighter and there is no limit to boundaries it can touch. Comparing the ageing of an institution with that of an individual, the Chief Minister said that while an individual gets weaken by becoming older and older; the institutions get strong and stronger with attaining more and more age. He said that the same is true for the Jammu and Kashmir Bank attaining 75 years of age and serving the State with a commitment and zeal. The Chief Minister said that when J&K Bank celebrated its 50th annual celebration, the scale of its progress and improvement was not that significant. “After 1996 elections a person outside the banking system was appointed as the Chairman of J&K Bank and the Bank got introduced to reputed Corporate Sectors in India. It elaborated its business and today after 25 years we find the Bank emerging as one of the leading banks in the Country”, he said adding that if the Bank continues to grow like this the day is nor far when it will be the best bank in the region. Omar Abdullah said that when his Government allowed the Bank to adopt RBI ways and means for becoming financially independent and commercially sound, many apprehensions were made by the certain sections of media, politicians and former bankers. “But their apprehensions were proved false and the bank took it as an opportunity to achieve new goals and lofty heights”, he said and added that in the tremendous growth and development of J&K Bank lies the endeavour of its Chairmen, officers and the staff down the lines of lowest rank officials. Omar Abdullah said that with the improvement in the situation in Jammu and Kashmir other Banks are looking towards the State. He said this would create competition between these Banks and J&K Bank. He said that he has told some of the Banks intending to do business in Jammu and Kashmir to localize their products and make these relevant to the local economy. “We have vibrant agriculture, handicrafts, tourism, entrepreneurship development, horticulture, IT and ST sectors. The Banks should focus on localized products”, he said and advised J&K Bank to move an extra-mile in its banking activities aimed at helping the local economy. The Chief Minister also talked about the status of CD ratio and Corporate Sector Responsibility (CSR) of Banks and appreciated Jammu and Kashmir Bank for showing significant improvement in this sector. He expressed the hope that the Bank would further improve in these fields. The Chief Minister said that the relationship between the Government and J&K Bank will strengthen further in the coming years and wished all success to J&K Bank to grow and achieve new highs. Speaking on the occasion, Union Minister for Finance, P. Chidambaram referred to his and Chief Minister, Omar Abdullah’s joint efforts to bring about peace and stability in the State. He said he as the Union Home Minister worked with Omar Abdullah and jointly initiated various initiatives in this direction. He appreciated Omar Abdullah for tremendous work done on the development front and wished further more progress of the economy and development of the State.
Posted on: Tue, 01 Oct 2013 19:30:51 +0000
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