* Assesses performance of J&K Bank
Excelsior Correspondent
SRINAGAR, June 9: Director General, Border Roads Organisation (BRO), Lt Gen Raghu Srinivasan, today called on the Chief Secretary, Atal Dulloo, to review the progress on various strategic road infrastructure projects currently underway in the Union Territory, particularly in border areas.
During the meeting, they held an in-depth discussion on the ongoing strategic road projects being implemented in remote and sensitive border regions of J&K. These vital projects are crucial for ensuring year-round connectivity to far-flung areas, improving mobility for civilians and facilitating the operational readiness of the security forces.
Lt Gen Srinivasan also apprised the Chief Secretary of certain challenges being faced by BRO on the ground, especially issues related to land acquisition and forest clearances that have hindered progress at several locations.
The Chief Secretary gave his full assurance that the J&K administration will provide all necessary support to resolve these matters promptly. He directed the concerned departments to streamline the clearances and coordinate closely with BRO authorities to remove any bottlenecks.
Dulloo also impressed upon the DG to expedite the execution of these critical infrastructure projects, reiterating their strategic and developmental significance for the region. He underscored the need for achieving zero-mile connectivity and smooth movement of both civilians and defence personnel, particularly in frontier areas prone to weather-induced isolation.
Lt Gen Srinivasan, while expressing gratitude for the administration’s continued cooperation, assured that BRO is fully committed towards timely completion of all ongoing projects and will continue to work in mission mode to meet the set timelines.
Meanwhile, Chief Secretary chaired a high level meeting to review the business performance of J&K Bank besides deliberating on strategies for enhancing its financial strength and service outreach across the Union Territory.
The meeting was attended by Principal Secretary, Finance, Santosh D. Vaidya; Managing Director & CEO, J&K Bank, Amitava Chatterjee and other senior officials of the bank and the Finance Department.
The Chief Secretary lauded the growth trajectory of J&K Bank while emphasising the need for sustained focus on improving the operational efficiency and financial inclusion. He stressed upon the management to bring the Gross Non-Performing Assets (NPAs) down to national averages through effective monitoring and recovery mechanisms.
Highlighting the critical role of the bank in J&K’s economic development, Dulloo urged the leadership to scale up priority sector lending, particularly in high-potential sectors like agriculture, industry, high-density plantation, fisheries, dairy and self-employment ventures. He emphasized redesigning the loan products under Mission YUVA, NRLM SHGs, Kisan Credit Card (KCC) and Homestay schemes to be more attractive, accessible and entrepreneur-friendly. He also encouraged the bank to think beyond traditional clientele especially that of the government employees and explore diversified business avenues to enhance the profitability.
Calling for faster adoption of digital solutions and improved customer service delivery, he directed the bank to work towards saturation of financial inclusion schemes such as PMJJBY, PMSBY, and APY across the UT.
The Chief Secretary also underscored the importance of improving the bank’s Capital Adequacy Ratio and investment in digital infrastructure to make banking more inclusive, transparent and user-friendly.
Principal Secretary, Finance, Santosh D. Vaidya, while speaking in the meeting, highlighted the growing incidence of cyber frauds all over the nation. He advised the bank to conduct an in-depth analysis of such crimes to formulate a localized risk mitigation strategy.
Presenting a detailed overview of the bank’s performance, MD & CEO, Amitava Chatterjee, informed that J&K Bank achieved a total business portfolio of Rs 2,52,768 crore during FY 2024-25, marking a 10% year-on-year growth. He shared that gross NPAs have been reduced to 3.37%, down by 71 basis points from the previous year and going to be brought to around 2.5% till closure of the ensuing financial year.
Some of the key highlights of J&K Bank’s performance presented in the meeting included earning a Net Profit (FY 2024-25) of Rs 2,082.46 crore (CAGR 31.88%) having deposits of Rs 1,48,569 crore with CAGR of 10.34%, Net Advances of Rs 1,04,199 crore, Return on Assets (RoA) at 1.32% (peer average 1.14), Return on Equity (RoE) at 17.37%, Cost to Income Ratio of 57.73% and Net Interest Margin (NIM) of 3.92% registered by the bank in the previous year of its operation.
The bank has also reported a stellar performance under the Annual Credit Plan 2025, disbursing Rs 51,839 crore which accounts for 182% of its target. Under priority sector lending, the bank has achieved 134% of the set target. It has extended the benefits of KCC to 11.33 lakh farmers, covering over 82% of eligible beneficiaries in J&K.
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