The Hindu Business Line : J&K Bank asked to lend more to businessmen within the State

"As promoter of the bank, I am delighted to see the evolution of the bank over the last 68 years. As Chief Minister, I would like the bank to make more profit. At the same time, J&K Bank should give more loans to our State people." Mr Azad said here on Friday after unveiling a new brand identity for J&K Bank.

Offering Credit

Currently, the State Government of Jammu and Kashmir holds 53 per cent stake in J&K Bank. Mr Azad pointed out that J&K Bank had been offering credit to people outside the State. "The reason given for lending money to outsiders is that there was militancy here and no growth opportunities. But for the last 10 years there is increasing demand for credit by entrepreneurs within the State."

As a part of the new identity, which is represented by a new logo, the Jammu and Kashmir Bank would now be known as J&K Bank. The Chief Minister also called for an attitudinal change among the employees of the bank in the wake of it entering into a new era with a new identity. Mr Azad said that one of the main problems faced by Jammu and Kashmir was unemployment. He said that the problem could not be dealt by Government alone.

"People have to stand on their own legs. Hollow slogans cannot give as prosperity. For that we need to have strong foundation in the form of institutions." he said.

The Chairman and CEO of J&K Bank, Dr Haseeb A. Drabu, said that the bank was committed to Jammu & Kashmir. "Like the falcon, while we will soar beyond our boundaries to explore opportunities across India and overseas, we will remain rooted in Jammu and Kashmir. This State will always be our key priority and our work will aim at bringing wealth and prosperity to our investors." Dr Drabu said.

More Stories on : Private Banks | Credit Market

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
J&K Bank asked to lend more to businessmen within the State

SBM hikes deposit rates