Srinagar, Sep 5: Finance Minister, Abdul Rahim Rather today said that J&K Bank will “continue to progress by leaps and bounds owing to the total functional autonomy it enjoys in its day-to-day affairs."
 “J&K Bank will never ever fail. It will continue to progress by leaps and bounds. The key to its growth and strength lies in its customer friendly business approach and the total functional autonomy it enjoys in its day-to-day affairs”, the FM said while addressing an impressive gathering of its customers soon after inaugurating the bank’s new business unit at Kanir, Budgam in presence of Parvez Ahmad, Bank’s Executive President.
 He said the government had given total functional autonomy to the bank to ensure it grows uninterrupted. “We believe undue interference with the affairs of the bank could be detrimental to its health. So, to ensure its unstoppable growth, we have left its functioning to its learned leadership. We are always there to support this proud institution of our state to see it grow and prosper”, he added.
 The Finance Minister appreciated bank’s efforts to reach out to remote and rural areas as part of its financial inclusion backed by a massive network expansion.
 He reiterated that the other banking players operating in the state should “shun the conservative approach while extending advances and loans.”
 “If they do not improve their credit disbursement in the state, we will not hesitate to take the severe action against them. Flight of capital is unacceptable”, he stressed.
 Executive President J&K Bank Parvez Ahmad thanked the Finance Minister for gracing the occasion. He congratulated the people of the village and adjoining areas for the inauguration of the new business unit in the area which he hoped will play an effective and meaningful role for the economic development of the region.

Lastupdate on : Wed, 5 Sep 2012 21:30:00 Makkah time
Lastupdate on : Wed, 5 Sep 2012 18:30:00 GMT
Lastupdate on : Thu, 6 Sep 2012 00:00:00 IST