J&K Bank gets HUDCO award for outstanding contributions in housing sector

Housing and Urban Development Corporation (HUDCO), a Government of India enterprise, has felicitated chairman and CEO J&K Bank, Parvez Ahmed, in recognition of the bank’s ‘outstanding contribution’ in the housing sector under the Pradhan Mantri Awas Yojna (PMAY).

According to a J&K Bank spokesperson, the award was presented by former diplomat Gopalaswami Parthasarathy, who is the president of IHC and Chancellor of Central University of Jammu in presence of Chairman and Managing Director HUDCO in a function held in New Delhi  Thursday on the eve of 49th foundation day of HUDCO.

Also present on the occasion were heads of a number of financial institutions, directors on the board of HUDCO, J&K Bank’s president Ashraf Ali, zonal head Delhi Fayaz Sidiqui, prominent citizens, officials of J&K Bank and senior management team of HUDCO.

The bank achieved the recognition for its contribution under the private sector bank category for the financial year 2018-19. The chairman HUDCO expressed deep appreciation for the bank’s role in promoting the housing sector in the state of Jammu and Kashmir. 

The chairman and CEO J&K Bank dedicated the recognition received by the bank to guidance and support of the bank’s board and state government besides the hardworking and committed members of the J&K Bank family who are working relentlessly for financial empowerment of the people of the state.

The bank’s mission, he asserted, is to improve the economic profile of the people of the state for which the bank is proactively working with multiple stakeholders.

“An important indicator of the improved economic profile, a house is always seen as an asset having lot of emotional value for people to reflect their economic status in our state and we are strategically focusing on the segment.

Today’s recognition will motivate us to invest ourselves more vigorously to not only achieve the targets under the Pradhan Mantri Awas Yojna with the objective of ‘Housing for All’ but also to work in a mission mode to realize the dream of our people for owning a house,” Ahmed said.

He said that as per the bank’s business projections for FY 2022, in consultation with a renowned consultant, 4 lakh new houses are to be built in the state in next few years and J&K Bank will be playing a major role in the financing.

Bank, he added, is well on course with adequate resource base and outreach in the state to capitalise on these opportunities. “Simultaneously” elaborated the Chairman “we are working on simplifying the processes to make the customer experience while availing a housing loan hassle free as the customers are usually opting for unsecured consumer loans due to the perceptions of a cumbersome process of housing loans involving multiple clearances.”