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.

NEW DELHI, OCTOBER 17- Governor Satya Pal Malik inaugurated a newly built J K Bazar, a retail showroom of authentic Jammu Kashmir Handicrafts/ Handlooms/Silk/ Agro based products and Restaurant serving Authentic Kashmiri Cuisine at J&K House, 5-Prithvi Raj Road, New Delhi here today.

Sh. B. R. Sharma, Secretary, Department of Border Management ,Ministry of Home Affairs, GOI, Sh. A. K. Mehta Financial Commissioner-J&K Govt. Sh. Naveen Choudhary, Principal Secretary-Industries and Commerce, Sh.Dheeraj Gupta, Principal Resident Commissioner, New Delhi, Sh. Shantmanu, Development Commissioner Handicrafts, GOI and other senior dignitaries’ were present on the occasion.

The newly constructed State of Art Showroom is for promoting J&K specific products of Handicrafts and Authentic cuisine. The project has been completed over a short period of time. The newly inaugurated Showroom shall cater to the people who cherish the Kashmiri handicraft and relish the traditional Kashmiri food which is now available in the heart of Delhi.

 

Governor visited the entire showroom and appreciated the work done which is a shopper’s stop for both silk and wool ranging from the simple to the most intricate patterns handed down the generations. He further said that Kashmir handicrafts are prized everywhere for their exquisite craftsmanship. He also added that Kashmir not only offers mesmerizing locations but also a wide range of lip smacking and exotic delicacies especially the essence of kashmiri influence which is found in the Wazwan- a meal traditionally consisting of 36 courses.

Other handicraft products in the showroom which are on display include-Paper Machie items, carved walnut wood items, Pashmina Shawls and kashmiri embroidery Sarees.

Sriangar, Oct 15: Chief Secretary, BVR Subramaniyam accompanied by Principal Secretary Planning Monitoring and Development, RohitKansal and Divisional Commissioner Kashmir Baseer Ahmad Khan Tuesday visited district Bandipora and convened a meeting of the officers of district and police administration to review the developmental and security scenario in the district.

District Development Commissioner (DDC) Bandipora Shahbaz Ahmad Mirza, Additional Deputy Commissioner Bandipora Zahoor Ahmad Mir, SSP Bandipora Rahul Malik and all other district officers were present in the meeting.

The DDC gave a detailed presentation of physical and financial achievements made under various sectors including R&B, PHE, Power, Irrigation and flood control, Rural Development, Sports, Handicrafts and Education.

 

The DDC apprised the meeting that cent percent dumping of essential commodities has been ensured in Gurez for upcoming winter season. He said that Rs 46 lakh has been disbursed among the affected families of cross border shelling in Gurez sector and the construction of community Bunkers is under process.

The DDC informed the meeting that the district administration has put all the arrangements in place for the upcoming winter season and there is adequate availability of essential commodities including medicine in the district. All basic amenities and services are provided in a hassle free manner to the general public. He said various languishing developmental projects have been completed and work on others is going on.

Speaking on the occasion the Chief Secretary appreciated the district administration for the efforts and arrangements put in place for the welfare of the people. He directed the officers to work with dedication and in a cooperative manner for accomplishing the various projects under execution in the district. He directed officers of the district administration to stress on development and public welfare.

While reviewing the sports sector, he stressed upon timely completion of play fields approved by the government at various places in the district. He asked for development of sports infrastructure for shaping the potential of youth in a proper direction.

He asked the officers of health department to ensure every possible support and facility to the patients in health institutions for enhancing the percentage of institutional deliveries in order to decrease the infant mortality rate.

The Chief Secretary directed district administration to activate men and machinery for combating the winter inconvenience. CS assured that all facilities will be provided to the general public in an uninterrupted manner and proper arrangements will be made for operation of Gurez- Bandipora road in upcoming winter.

Divisional Commissioner Kashmir Baseer Ahmad Khan asked the officers to address public grievances on priority and emphasised the need of completion of developmental projects, for which he directed the concerned agencies to speed up the pace of work on developmental projects. He said that additional DG sets will be provided to Gurez for providing adequate power supply to the inhabitants.

The Chief Secretary and Div Com also reviewed arrangements put in place for the BDC Elections scheduled on 24 October 2019. They were informed that there are 12 blocks in district for which 36 candidates are in fray. All the arrangements have been finalised for the smooth conduct of elections in the district, DDC said.

Later on, as part of public outreach programme various deputations and public representative met Chief Secretary and Div Com and projected their demands. The deputations demanded completion of District Hospital, Bus Adda, Putushay Power grid Station and beautification of town. The demand of Bandipora Bypass road was also reiterated by the deputations. The development of town drainage system on modern lines and boosting of tourism was also projected by the representatives. Deputation from Bonakoot demanded completion of Bonakoot-Pannar Bridge for which on spot directions were issued by the Chief Secretary for removing bottlenecks in its completion.

The Chief Secretary assured the deputations that necessary steps will be taken to redress their genuine problems and asked the DDC to look into the public issues on priority and ensure that their genuine demands are fulfilled in a time bound manner.

Earlier Chief Secretary reviewed security scenario of the district with the officers from police and other security agencies.