Mushtaq inaugurates Industrial Finance Branch in Samba
GK NEWS NETWORK
Srinagar, Oct 12: To boost the industrial sector in the state, chairman and CEO J&K Bank, Mushtaq Ahmad, inaugurated an Industrial Finance Branch at Industrial Growth Centre, Samba.
The branch is specially designated to extend financial support to the industrial units. Besides, it shall be providing all other banking facilities and services to its customers.
Speaking on the occasion Mushtaq said: “For industrial sector to be a success story anywhere in the world four ingredients are indispensable. These are Entrepreneurship, skill-set, Finance and technology. As state’s premier financial institution we are certainly looking at the areas that shall be the focus of our short and long term lending towards this sector.”
To encourage and nurture two vital constituents of entrepreneurship and skill development, J&K Bank has already devised some of the plans which include partnering with the Government’s economic initiatives aimed at people’s socio-economic empowerment, he said.
He said J&K is an industrially backward because it lacks a strong industrial base. However, many small and medium-scale industries have come up both in the traditional and new areas in the state.
“Our strategy to extend finance is sector-specific to promote industries. In our strategy we shall be taking due care of the climate, accessibility, raw material availability, human resources and consumption pattern”, he said.
Meanwhile, a chemical industrial unit was accorded on the spot sanction of Rs 11 crores advance. Mushtaq and Mubarak Singh, DDC Samba jointly handed over the sanction letter to the unit holder.
The function among others was attended by the District development Commissioner, Samba, Mubarak Singh, Executive President of J&K Bank, Ajit Singh, President & Secretary of the bank, Parvez Ahmad, Zonal Head, Jammu (Central), Madan Gupta and a good number of customers of the bank.
Lastupdate on : Tue, 12 Oct 2010 21:30:00 Makkah time
Lastupdate on : Tue, 12 Oct 2010 18:30:00 GMT
Lastupdate on : Wed, 13 Oct 2010 00:00:00 IST
- MORE FROM BUSINESS
GK NEWS NETWORK
Srinagar, Oct 12: The Chairman of Hurriyat Conference (G) Syed Ali Shah Geelani has termed Government’s move to enforce curfew to thwart the Hyderpora march on Tuesday as its frustration. “By taking recourse More
- Srinagar City
GK CITY CORRESPONDENT
Srinagar, Oct 12: At a time when the government claims to have removed as many as 16 bunkers from the City, the paramilitary CRPF troopers have closed a road and erected a makeshift bunker in Bemina on More
Computerized Cataloguing Of 136 Libraries Still A Distant Dream
Jammu, Oct 12: Even after the lapse of three years, the much talked about computerized cataloguing and e-linking of 136 libraries in Jammu and Kashmir has remained a non-starter, while the Rs 1 Crore project More
COMPUTERIZATION OF VAT REGIME IN JK
GK NEWS NETWORK
Jammu, Oct 12: The State Commercial Taxes Department is all set to go online by December this year with the completion of computerization of all its transactions including the Value Added Tax regime to More
Lahore, Oct 12: Dubbing former military dictator Pervez Musharraf as "most corrupt, callous, immoral and ruthless ruler of Pakistan", the Nawaz Sharif led PML-N has demanded that the government seek Interpol More