J&K Bank doing a commendable job: MOS Finance

‘It will achieve its business goal of Rs 4 lakh crore in next 5 years’
Karad gave sanction letters to 16 beneficiaries financed by the bank under various self-employment schemes like PMEGP, Mission Youth, NRLM, and AIF besides e-inaugurating bank’s four branches and three ATMs.
Karad gave sanction letters to 16 beneficiaries financed by the bank under various self-employment schemes like PMEGP, Mission Youth, NRLM, and AIF besides e-inaugurating bank’s four branches and three ATMs.Special arrangement

Srinagar: Union Minister of State for Finance Bhagwat Kishanrao Karad Wednesday praised J&K Bank saying that the financial institution was doing a commendable job.

A statement of J&K Bank issued here said that at an event organised as part of the ‘Azadi Ka Amrit Mahotsav’ at the bank’s corporate headquarters, the Union MoS Finance said, “I feel delighted to be part of this programme of J&K Bank that is doing a commendable job of providing self-employment to the youth, progressing ahead with a clear digital vision, and enhancing financial awareness of the people while deepening financial inclusion.”

Karad gave sanction letters to 16 beneficiaries financed by the bank under various self-employment schemes like PMEGP, Mission Youth, NRLM, and AIF besides e-inaugurating bank’s four branches and three ATMs.

He also handed over few micro ATMs and biometric devices to Digi Pay Sakhis, who were on-boarded as female business correspondents of the bank.

“The main objective of the Centre under Prime Minister Narendra Modi is to increase financial literacy, deepen financial inclusion, and ensure that all the financial transactions are done digitally across the country. And I commend J&K Bank for their progressive contributions in this direction,” Karad said and expressed hope that with strong commitment and smart services, the bank would achieve its envisaged business goal of Rs 4 lakh crore in next five years.

Emphasising the need to reach out to every section of society, he said, “During the last couple of days here I have observed that J&K Bank is far ahead of the lot in implementing all the flagship schemes of the Centre meant for poor and marginalised ranging from PM Jan Dhan Yojana and PM Jeevan Jyoti Bhīma Yojana to PMSVANidhi. More so, the bank takes lead in financing the schemes like Mumkin, Tejaswani sponsored by the J&K government for which I congratulate the Managing Director (MD) and Chief Executive Officer (CEO) of the J&K Bank, Baldev Prakash and his entire staff.”

Acknowledging the comprehensive support and quality services the bank was providing to people through a wide range of its initiatives, Karad urged the bank’s management to continue to deepen digital presence and enhance the quality of services while the country accelerates toward achieving the twin national goals of 5 trillion dollar economy and Digital India.

Earlier, the MoS Finance visited the J&K Bank’s Digital Banking Unit (DBU) at Lal Chowk.

He also visited the stalls at J&K Bank’s corporate headquarters wherein the entrepreneurs financed by the bank under various self-employment schemes showcased their products.

Welcoming Union MoS Finance, MD and CEO J&K Bank Baldev Prakash said, “Setting a target of Rs 4 lakh crore business in next five years with annual profit of Rs 4000 crore, we are aiming to improve share of rest of India in our overall loan book to 50 percent through the re-oriented business strategy to not only increase our business but also to diversify the concentration risk in our core-geography of J&K and Ladakh.”

He apprised Karad about the steps taken to align the bank’s strategy with the national vision of Digital India. “The idea is to enhance the customer experience from satisfaction to delight through end-to-end digital solutions with secure services,” Prakash said. “We remain committed to contribute our part actively in achieving the Centre’s vision of Digital India with inclusive economy. On this occasion, let me reiterate that we will also extend every possible support to the J&K government’s vision of saturating self-employment of youth in J&K.”

Private Secretary to MoS Amit Meena, and General Managers Sudhir Gupta and Syed Rais Maqbool were also present on the occasion.

J&K Bank’s General Managers, DGMs, and AGMs also attended the function.

The branches commissioned today were Ghoom Ahmadpora in Baramulla, Saliskote in Kargil, Kaghote in Udhampur, and Wasoora in Pulwama while the inaugurated ATMs are at Super Specialty Hospital in Shireen Bagh, Central University of Kashmir in Ganderbal, and Bhagha in Reasi Jammu.

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