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315 road projects worth Rs 2560 cr submitted for funding: Naeem

Monitor News Bureau

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JAMMU, JAN 03: Minister for Roads and Buildings, Naeem Akhtar, while replying to a question by Haji Abdul Rashid in the Legislative Assembly, informed the house that the state government has submitted 289 road projects involving an estimated cost of Rs 2488.06 crore to NABARD and CRF to be taken up across the state during the current financial year.
He further informed that 26 more road projects, estimated to cost Rs 72.26 crore, have been proposed for 2018-19 and submitted to the concerned funding agencies including Planning Development & Monitoring Department (PD&MD) under Rural Infrastructure Development Fund (RIDF).
Choudhary Sukhnandhan Kumar raised supplementary regarding construction of Ring Road passing through his constituency and called for safeguarding the interests of farmers whose land has been acquired for the purpose.


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State

School Education Deptt regularizes services of 816 incumbents

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Srinagar, Oct 21: Department of School Education today regularized services of 816 officers in various cadres/disciplines through Departmental Promotion Committee headed by Commissioner Secretary School Education Sarita Chauhan.

The regularization orders in respect of 388 incumbents have been issued including Joint Directors, CEOs and Lecturers in the disciplines of Botany, Chemistry, Economics and Environmental Science whose cases were found complete in all respects.

In another decision, 2413 post-graduate Masters/Teachers have been placed as in-charge Lecturers in different disciplines as on date and elevation of more eligible incumbents are in pipeline, the statement added.

 
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State

Several delegations call on Adv Skandan

Monitor News Bureau

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Srinagar, Oct 21: Advisor to Governor, K Skandan today said that that the Government is committed to redress the demands and issues of the general public and necessary directions have been passed to the concerned for the immediate redressal of the same.

The Advisor stated this during his weekly public hearing programme at Governor’s Grievance Cell, Church Lane, Srinagar.

On the occasion, 40 individuals and deputations hailing from different parts of J&K put forth their demands and grievances before the Advisor and sought his intervention for early redressal of their issues.

 

The deputations which met the Advisor include: members of Civil Society, Safapora who sought sanction of Animal Poly Clinic and establishment of Horticulture zone, deputation of retired employees of JK Cements, who sought redressal of pending retirement benefits, deputation from Budgam who sought development of road, delegation of employees of Joinery Mills and deputation of Class 4th candidates from Baramulla and several other individuals also put forth their issues and demands.

After giving a patient hearing, the Advisor assured the public deputations and individuals that the administration would look into their demands and issues on priority. He assured that necessary instructions have already been passed to the concerned so that people do not face any difficulty and inconvenience.

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Lead Stories

No merger on cards, J&K Bank has strong fundamentals:Chhibber

Monitor News Bureau

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Srinagar, Oct 20: Putting all the speculations about the J&K Bank’s merger at rest, J&K Bank Chairman and Managing Director R K Chhibber today stated, “The recent crisis of Punjab and Maharashtra Cooperative (PMC) Bank in the country has worried bank customers in general but the rumors of J&K bank’s merger by some vested interests has raised apprehensions among our depositors particularly in J&K. Let me put all those speculations at rest by assuring you that no merger is on the cards and the bank’s fundamentals are very strong.”

In a press statement, he further said, “Let me assure all the stakeholders of the bank that their beloved bank is in safe hands of more than 12000 strong J&K Bank family under the supervision and guidance of a professionally strong board of directors with a robust accountability framework in place for transparency and efficiency. The only way to go for the bank is up and above, towards higher levels of accomplishments.”

Commenting upon the effect of recent political developments in J&k upon the bank, he said, “We certainly believe that the recent developments that have taken place in state won’t affect the essence of this institution, which is to financially serve the people of J&K and catalyze the economic development of this region.J&K Bank has witnessed far bigger challenges in the past, and we believe, as always with the emotional equity of the people, support of J&K Government and unmatched commitment of our staff, we shall meet every challenge head-on and come out stronger and more successful.”

 

While reiterating that J&K Bank has strong fundamentals with all its major financial indicators performing well, the Chairman also asserted that few of the large loans, made some years ago that have turned Non Performing Assets (NPAs) and are being investigated; have been adequately provided for by the bank and shall have no impact on the profitability of the bank.

“Let me assure you that we are here to be with you and lead you towards a more promising and fulfilling economic future”, he said.

Reflecting upon the long and eventful journey of the bank, the Chairman said, “It has been a long, eventful and challenging journey of over eighty years that has shaped up not only this great institution but the very structure and the substance of J&K’s economy. For all this, we acknowledge and admit the instrumental role of our shareholders and customers whose unwavering trust and cooperation has been the guiding light for us during eight decades of our existence.”

Expressing his gratitude for the bank’s main stakeholders, Chairman said, “In particular we appreciate the unflinching support of our main stakeholders i.e.the J&K Government, the Board of Directors, and employees at large. J&K Government has always come forward to support the bank in all spheres and have already raised their stake to 59 pc in the bank by providing capital of Rs 532 Crfor business growth and regulatory requirement. Thegovernment has also indicated to extend additional capital support in near future to meet our Basel III capital requirements.”

Notably, thevery reason for the establishment of Jammu & Kashmir Bank by its founders in 1938 has been to empower the people of the state financially so that an era of development could be ushered in.Today we see that vision transformed into reality as J&K Bankleads from the front with market share of more than 65 pc, more than 12 million account holders from two million households and a total business around 1.65 lac Cr.

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