JK News Today

Srinagar, October 20

“The Jammu and Kashmir Bank has to work out the most optimum mechanism and methods to make the best use of wide range of economic reforms rolled out by Modi Government during the last two years,” said Dr. Jitendra Singh, Minister of State in Prime Minister’s Office,  Minister for Development of North Eastern Region (DoNER), while interacting with the bank Chairman Parvez Ahmed.

The chairman had called upon the union minister to discuss wide range of issues relating to banking sector and economic scenario in the State.

Chairman J&K Bank said, “The bank will have the main focus on promoting economic growth, creating more awareness about the banking provisions and encouraging youth to set up their entrepreneurships in the state”.

He said that for this, the Bank management looks forward to work in close collaboration with the State Government as well as the Centre so that it can fulfill its responsibilities towards the socio-economic development of Jammu & Kashmir.

During the discussions, while referring to recent turmoil in the Valley, Parvez Ahmed also discussed with the Minister different options that could be worked out to make up for the loss of business, disruption in trade and interruption in loan repayments.

Dr Jitendra Singh assured the Chairman of every kind of possible assistance required from the Centre to enable the J&K Bank to contribute to the financial growth of the country in general and State of Jammu & Kashmir in particular.

He said, in the aftermath of the recent phase of turmoil in the Kashmir Valley, the J&K Bank will again have to take a call to help putting the derailed business and trade sector back on the track. How best can this be achieved and what are the options can be worked out jointly through discussion among J&K Bank, Reserve Bank and Union Finance Ministry, he added.