Sajjad Bazaz
J&K Bank while successfully reinventing itself to script a new era of growth would be strengthening its board with more professionals. Currently, the bank is having a professional board of directors and first time 2 IAS officer and a scientist are on board of the bank. Even the bank is contemplating to go for lateral recruitments for getting professional people for specialized jobs in the bank at the top.
Remarkably, the bank is in the process of inviting applications from the eligible candidates for the post of chief financial officer at president level. Soon it will be recruiting professionals for specialized functions like Risk Management, IT etc.
In the past couple of quarters, after the present chairman and managing director, Rajesh Kumar Chhibber, took charge of the bank, the bank has taken certain concrete steps to strengthen its corporate governance. The bank has already implemented RTI Act and adopted CVC guidelines to ensure transparency in its operations. Besides, the bank is in expanding mode and has already intensified its penetration into deeper pockets (unbanked areas) of the J&K region. The expansion of the branch network is multi lateral as the bank would be realizing its overseas mission by opening first branch in Europe. The bank has expanded our network of branches across the J&K region and opened new branches at various places, expanded network of ATMs and Easy Banking Units in far flung areas.
The bank has established a strong and professional Internal Communication and Knowledge Management (ICKM) department. The department keeps the staff abreast with every development taking place in the banking industry through various modes like an internal news portal. The portal is updated on daily basis and every staff member has access to this portal. Information related to products and services and updated operational guidelines reach in real time to the staff while on the job. The bank also publishes monthly magazine ‘TRUST’ covering developments on banking, finance and economy and is one of the best specialized magazines available in the industry.
The bank plans to consolidate its network rationalizing the staff deployment strictly as per business requirements outside J&K. In this connection, the bank has already announced to close some loss making branches and even merging some zonal offices outside J&K.
It’s for the first time that the bank would bringing transparency in recruitment process by advertising the vacancies of Banking Attendants and Assistant Banking Associates. The candidates would be subjected to screening tests and selected purely on the basis of merit. Earlier these levels of posts were filled directly without any advertising them. Meanwhile, the bank has disclosed that the recruitment process of Probationary Officers and Banking Associates which had remained pending due to some unavoidable reasons would be completed soon.
While commenting on the performance of the bank in the past couple of quarters and the changes in the offing, Chairman and Managing Director, R. K. Chhibber said, “We would further strengthen the governance and accountability framework of the Bank. The aim is to enhance transparency and efficiency and translate all efforts into making the bank much stronger and healthier. The bank has already implemented RTI Act and adopted CVC guidelines. The bank as of now has an adequate capital base but in case need arises bank can raise capital to meet its requirements.”
He described the vision of the Bank to take it to new heights and make it a catalyst for growth and empowerment of people through transparency, resilience and transformation. Precisely, he said, the bank would strive to make this institution a strategically growing, technologically modern and operationally agile institution.
Remarkably, in the first quarter (Q1)of current financial year, (as at June 30, 2019), the registered a net profit of Rs 21.87 crore. The total business of the bank went up by 14.31 pc to Rs 156912.84 Cr when compared with the corresponding period of the previous year. By the end of March 2020, the bank is contemplating to achieve a business turnover of Rs.1.70 lakh crore with total advances and deposits projected to increase to around Rs 70000 crore and Rs 1.00 lakh crore respectively, said the chairman.
“Looking ahead, I view the Bank’s future with continued optimism and strongly believe that the worst for the Bank is over. I am confident that we shall not only weather the challenges at hand, but put the Bank on a different pedestal with the committed support of its promoters, regulators, management and dedicated workforce of the J&K Bank family. We shall overcome every obstacle and take this Bank to its pinnacle. Like in the past, we hope to receive continued support and trust from our customers in future,” Chhibber said.
(The author is Head Internal Communication & Knowledge Management Department Jammu & Kashmir Bank Limited)
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