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Parvez announces reduction in interest rate to 11.90%, donation to welfare fund of the club

Monitor News Bureau

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J&K Bank Chairman & CEO Parvez Ahmed was today felicitated by the Press Club of Jammu (PCJ) at an impressive function held here at the Club. The Chairman, on the occasion, rolled out “J&K Bank Sahafat Finance Scheme” for journalists and others working in various media organisations in presence of Bank’s Executive Presidents Vagesh Chander, S S Sehgal, President Press Club Ashwani Kumar, Vice President PCJ Abhimanyu Sharma, Secretary Finance PCJ Dinesh Manhotra and senior management of the bank, senior journalists and personnel working with different newspapers, channels and other media-outlets.

The PCJ management headed by its President Ashwani Kumar presented a memento and a shawl to the chairman Parvez Ahmed. Besides, the chairman was presented honorary membership of the club on the occasion.

While addressing the club members and media personnel, Chairman Parvez Ahmed appreciated their role in maintaining the credibility of institution of Journalism while working in difficult conditions. He made certain significant announcements on the occasion, which include  a reduction in Rate of Interest by 30 basis points for the Sahafat scheme, a donation of Rs. 5.00 lacs to the Welfare Fund of Journalists of the club and adoption of Press Conference Hall of the club in the memory of late Ashok Sodhi for renovation and upgradation. The chairman also announced installation of automated teller machine (ATM) and cash deposit machine (CDM) in the precincts of the club.

 

“On the insistence of media community, we have decided to reduce the rate of interest of this scheme by 30 basis points which now stands at 11.90 percent,” the chairman said.

The chairman further said, “It is a matter of pride and gives me immense pleasure to roll out this tailor-made scheme for the journalist community at this venue which was started by the stalwarts of journalism in our state. We both share the common legacy of serving to empower the people. The Bank appreciates the role of media in highlighting the important issues of local and national importance. The launch of this product is an effort which signifies our recognition of media as a viable economic sector, represented by very passionate and talented people. To name a few, people like Sham Koul, Ved Bhasin, Kamal Romitra, M L Kak, O N Koul, Ashok Handoo, Ashwani Kumar and Ashok Sodhi have played an exemplary role in the field of journalism”.

Expressing his gratitude for felicitation by Jammu Press Club, Chairman said, “I am deeply humbled by this gesture and I dedicate this felicitation to the hardworking, honest media fraternity who have always performed their duties with utmost professionalism while keeping in mind the journalistic ethics. And as the premier financial institution of this state, it is our duty to come out with specific, professional schemes like Sahafat Finance which will be helpful in meeting their immediate personal as well as professional financial needs,” he said.

Chairman also thanked the media fraternity for supporting J&K Bank during tough times and providing with the feedback from people, to improve its delivery of services. He asked for consistent support from the fraternity in the bank’s journey towards greater heights of success and excellence.

Earlier, in his welcome address, President Press Club Jammu, Ashwani Kumar apprised the audience about the role of the only Press Club in the state.

“Jammu Press Club is one of the oldest, self-sustaining Press Clubs working in north India. Started by few people, it now has the membership of 800 associate and corporate members. Facilities like Journalist Welfare Fund has been adopted under which Rs. 50 Thousand are provided to the members to meet any untoward expenses and in case of death, a sum of Rs. 1.00 lac is provided to member instantly,” he said.

He praised the bank’s role in formulating specific retail banking products and tailor-made credit facilities to different sections of the society.

Vice-president Rakesh Gandotra (S&BD) gave a comprehensive account of the scheme that has been uniquely tailored for the media persons.

The purpose of the unique scheme is to provide easy and hassle-free finance to media persons for personal and professional needs on urgent basis. The maximum credit of Rs 3 lacs repayable in 60 EMI’s shall be provided in form of term loan for purchase of cameras, tablets, laptops etc and revolving cash-credit facility to meet routine money needs. With minimum rate of interest, the scheme also offers an insurance cover of Rs 4 Lacs against an annual premium of Rs 342 to be borne by the borrower.

Pertinently the scheme was first unveiled at a function at Corporate Headquarters Srinagar earlier this month.


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State

GoI to setup IT infra in J&K: Prasad

Monitor News Bureau

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Srinagar, Jan 22: Union Minister for Communications, Electronics and Information Technology and Law & Justice, Ravi Shankar Prasad Wednesday said Government will setup every required infrastructure for development and export of IT products from J&K UT.

He said this after inaugurating the incubation facility at Srinagar Technology Parks of India Srinagar.

Advisor to Lt Governor Farooq Khan, DG STPI Dr Omkar Rai, Deputy Commissioner Srinagar Dr Shahid Iqbal Chowdhary, CEO Mission Youth Dr Syed Abid Rashid Shah, Director STPI Srinagar Asim Ahmed Khan was also present on the occasion.

 

“The incubation facility will provide opportunities to IT entrepreneurs by providing plug-n-play and other digital infrastructure along with regulatory support to develop and export IT products from the Union Territory of Jammu and Kashmir,” he said.

Later the Minister had a tour of the STPI complex where officials informed him about the various facilities provided by the center for software entrepreneurs of J&K.

He also interacted with young entrepreneurs and IT experts of some software companies who are using the space and other facilities of the STPI for development and export of their softwares for the outside market.

The additional facility of about 24,000 sqft will meet the growing demand of IT/ITES MSMEs of the region.

The officials informed the Minister that J&K has three STP units; employing around 140 resources are registered with STPI.  They added that for financial year of 2019-20, estimated exports from these units are expected to be around Rs 6.76 crore.

The Minister directed the officials to facilitate young software developers and encourage them to become successful software development entrepreneurs.

On the occasion, DG STPI informed the Minister that MEITY and STPI are in the process of getting various collaborating partners onboard to setup centers of excellence in the areas of Agritech, Horticulture under IOT domain.

To establish these COEs, STPI is working with Higher Education Department of J&K for allocation of space at University of Jammu and SP College Srinagar.

Later, the Union Minister also visited National Institute of Electronics & Information Technology Srinagar.

Advisor to Lt Governor, Farooq Khan, Vice Chancellor, Kashmir University, Prof. Talat Ahmed, DG NIELIT & Joint Secretary (MeitY) Dr Jaideep Kumar Mishra, DG STPI Dr Omkar Rai, Deputy Commissioner Srinagar Dr Shahid Iqbal Chowdhary, CEO Mission Youth Dr Syed Abid Rashid Shah, Director STPI Srinagar Asim Ahmed Khan and other officials were present on the occasion.

On the occasion, the Union Minister inaugurated two separate hostel buildings for boys and girls besides an IT lab with a capacity of 40 seats.

He interacted with students and faculty and asked them about the facilities in the institute and scope for improvement.

The Minister was informed about the ongoing course Cyber Shiksha – a skill development initiative for women in cyber security. The officials informed the Minister that out of a batch of 22 girls, 12 have got placed in different companies.

The Minister asked the officials to train and place the Kashmiri youth in different job-oriented courses including artificial intelligence, Block chain etc.

He said that he will personally monitor the training and placement of Kashmir students in different software courses.

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State

5 more detained politicians released

Press Trust of India

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Srinagar, Jan 16: Jammu and Kashmir administration on Thursday released five politicians including three former legislators after keeping them in preventive detention for more than five months following abrogation of Article 370 of the Constitution.

Officials said the five mainstream politicians were released from preventive detention this afternoon.

The leaders who were released include Altaf Kaloo (ex-MLA National Conference), Showkat Ganaie (ex-MLC National Conference) and Nizamuddin Bhat (ex-MLC PDP).

 

Former mayor of Srinagar Municipal Corporation Salman Sagar (National Conference) and Mukhtar Bandh (PDP) were also released.

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State

Abrogation of Art 370 a historic step: Army chief

Press Trust of India

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New Delhi, Jan 15: Army chief Gen M M Naravane on Wednesday hailed the abrogation of provisions of Article 370 as a “historic step” and said the move has disrupted plans of the “western neighbour and its proxies”.

The armed forces have “zero tolerance against terrorism”, he said at the 72nd Army Day function in the Cariappa Parade Ground here.

We have many options to counter those who promote terrorism and we will not hesitate to use them,” he said.

 

On August 5 last year, the Centre abrogated provisions of Article 370 that gave special powers to Jammu and Kashmir and bifurcated the state into two union territories.

The Army chief said, “Abrogation of Article 370 is a historic step. It will prove to be important in integrating Jammu and Kashmir in the national mainstream. This decision has disrupted the plans of our western neighbour and its proxies”.

Gen Naravane said the country had to face some security challenges last year.

“Not only it countered proxy war but other situations. Whether it is LoC (Line of Control) or LAC (Line of Actual Control), we have ensured security with activeness and strength,” he said, adding the situation at northern borders (China border) is relatively peaceful.

The Army chief said the situation along the LoC is linked with situation in Jammu and Kashmir.

“Today, we remember those who have made ultimate sacrifice for the country. It will keep inspiring the coming generations,” he said.

Mentioning his visit to Siachen last week, he said he was extremely happy to see all the ranks brimming with confidence at the post.

“In last few days, some of our soldiers achieved martyrdom due to avalanche. We will always remember their sacrifice,” he noted.

Dhanush and K-Vajra gun systems were showcased for the first time in the Army parade.

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