Advisor to Governor KK Sharma on Thursday underlined the need for redefining the working of the financial corporations to bring in additional vigour in their functioning and help them remain relevant in the financial scenario in the state.
The advisor said this whilespeaking at the Board of Directors meeting of Jammu and Kashmir State FinancialCorporation (JKSFC) here, according to an official spokesperson.
Principal secretary,finance, AK Mehta, managing director, JKSFC, Muhammad Farooq Thoker, board ofdirectors, senior president, J&K Bank, TS Bali, divisional manager, LifeInsurance Corporation of India, besides other concerned officers were presenton the occasion. During the meeting, the advisor was also briefed aboutoperations, profitability, services and resource position etc of theCorporation besides problems confronting the Corporation.
The advisor said that an intervention is necessary so thatthese corporations can emerge as financial facilitators for state artisans;agro-based and allied activities, MSMEs and others. He stressed the need for formulation of an effective working plan with theadoption of innovative measures besides healthy technological interventions.Sharma emphasized on reorganizing human resources for the purpose of making itbetter organized for corporation’s present needs. This, in turn, will help ingenerating revenue for the Corporations, he added.