Excelsior Correspondent
SRINAGAR, Mar 11: With a view to provide its clients comfortable ambience and better servicing space, J&K Bank today inaugurated new premises of its two Business Units (BU) in Sopore area of district Baramulla.
Chairman & MD R K Chhibber unveiled the inauguration stone at the state-of-the-art premises of BU Main bazaar Sopore besides the new premises of BU Younus Wahipora in presence of the bank’s President Chetan Paljor, Zonal Head Imtiyaz Ahmad Bhat amid a large gathering of customers, senior and prominent citizens, businessmen and other residents. Cluster Heads, Heads BU M B Sopore and Younus Wahipora and other officers of the bank were also present on the occasion.
Shortly after the inauguration the CMD had a brief interaction with the customers and prominent citizens from the area.
Speaking on the occasion, the CMD said, “J&K Bank is the foundational institution of the region in terms of financial empowerment of people and the economic development of this place. We believe that customers are our business partners. J&K Bank is strong only because of the unfailing support of the people besides unflinching support from the J&K Government. Just recently the Government committed to provide Rs 500 Cr capital infusion, for which the entire J&K Bank family remains grateful.”
Regarding the recruitments, he assured the audience that the bank was coming up with a fresh recruitment process notifying additional number of posts in both categories of POs and BAs. The process, he said, will be completed on fast track basis transparently and smoothly.
Talking about the corporate governance, the CMD said, “During the last few quarters we have strengthened our corporate governance framework by implementing the RTI Act and have adopted CVC guidelines to enhance transparency and accountability in the functioning of the bank under a strong and capable board-of-directors, whose expertise and experience provides guiding light besides the required oversight”,
Regarding the bank’s public outreach programs, he said, “Boosting the JK UT Government’s recent Financial Inclusion Outreach Campaign, the bank has organised scores of financial awareness camps besides a sustained media campaign across the UT of J&K to educate and include thousands of participants into the formal banking system.”
Earlier, while interacting with staff at the Zonal Office, the CMD lauded the bank’s staff for their commitment and dedication towards the institution.
Recollecting some recent experiences, the Chairman R K Chhibber said, “We have seen many ups and downs especially in the recent past but I appreciate the hard work of my entire staff due to which the worst is over now. We were quite comfortable till downgrading of IL&FS, which proved a pain point in the second quarter and we had to make 100 pc provisioning against the exposure.”
“Some things that immediately need our immediate attention are recovery, upgradation of assets and regulatory compliance. We must follow the Annual Action Plans, dispose of the sponsored cases on priority and clear all pendency in this regard. And the most important thing that all of us need to bear in mind is that all our efforts and energies must revolve around the profitability of our business because income is paramount for smooth and successful functioning of every organization”, the CMD added.
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