Srinagar: Dwelling on the transformation of the J&K Bank the Prime Minister said it was a victim of dynasty politics and corruption.
The Prime Minister listed the reforms to restore the health of the bank. He mentioned 1000 crore rupees in assistance to the bank and action against wrongful appointments.
Anti-Corruption Bureau is still investigating thousands of such appointments. He highlighted the transparent recruitments in the last 5 years. As a result, the J&K Bank profit has reached Rs 1700 crores and business has reached Rs 2.25 lakh crore from Rs 1.25 crore rupees 5 years ago.
He said deposits also increased from Rs 80,000 crores to Rs 1.25 lakh crore. NPA that had crossed 11 percent 5 years ago has been brought down to below 5 percent. The share of the bank has also seen 12 fold rise to about Rs 140 from Rs 12 5 years ago. “When there is an honest government, the intention is for the welfare of the people, then the people can be brought out of every difficulty”, PM Modi added.
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