Excelsior Correspondent
JAMMU, Dec 21: J&K Bank Chairman and CEO Parvez Ahmed inaugurated an Automated Teller Machine (ATM) at Peer Budhan Ali Shah at Satwari and also electronically commissioned 4 ATMs and 2 Business Units at different locations across Jammu.
Executive Presidents Vagish Chander, SS Sehgal, other senior management of the bank and a gathering of bank’s valuable customers, senior citizens and local businessmen were also present on the occasion.
The two Business Units inaugurated are located at SKUAST Chatha and Majua Uttami Bishna, besides 4 Automated Teller Machines have been installed at Hatli Morh in Kathua, Rajinder Nagar in Bantalab, Armed Police Complex in Channi Himmat and Exchange Road in Rehari.
Administrator Auqaf Islamia Wakeel Ahmad Butt said that installation of the ATM facility would bring a sense of ease for people.
Meanwhile, J&K Bank today convened 106th meeting of J&K State Level Bankers’ Committee (SLBC) Jammu which was presided over by BB Vyas, Chief Secretary. Financial Commissioner Revenue, Lokesh DuttJha, Principal Secretary Finance Navin Kumar Chaudhary, Principal Secretary, Planning and Development, Rohit Kansal, Regional Director, Reserve Bank of India Thomas Mathew, Chief General Manager NABARD Vijay Kumar, Deputy Secretary, DFS, MoF, GoI AK Dogra, other senior functionaries of the State Government, banks, Insurance Companies, BSNL etc were also present.
Chairman, J&K Bank, Convenor, J&K SLBC Parvez Ahmed said, “J&K Bank has disbursed Rs 7,985.93 crore during the first half of CFY ended September 30, which makes for 73 per cent of the total credit extended by the 43 banks and financial institutions operating in the State”.
Chief Secretary BB Vyas pointed out that despite having huge potential, the credit off-take under housing and education sectors remained low and advised the banks to put in concerted efforts to improve disbursements under these sectors. He directed the Revenue authorities to fast track digitization of land records to obviate delay caused in obtaining revenue extracts which affects the lending especially under housing sector.
Expressing serious concern over low credit deposit ratio in some districts, Vyas directed all the stakeholders including the Lead District Managers to introspect and take necessary corrective measures for improving the penetration of credit.
It was decided during the deliberations of various agenda items to constitute two separate committees comprising members from Banks, Government Departments and other stake-holders one to look into the issues of documentation in housing and education loans and other one to come up with reasons and remedial measures for huge pendency and rejection in the Government sponsored cases.
The welcome address and vote of thanks were presented by Vagish Chander Executive President and Rakesh Gandotra Vice President respectively.
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