Excelsior Correspondent
JAMMU, Feb 8: PCC (I) president Prof Saif-ud-Din Soz today described as “victory of Congress’’ the inclusion of 73rd amendment provisions in the State Panchayati Raj Act saying such a historic decision was possible due to the efforts of Congress vice president Rahul Gandhi.
Prof Soz told the Excelsior on phone from New Delhi that Rahul Gandhi stood like a rock behind the PCC (I) struggle to get the provisions of 73rd Amendment of the Constitution of India implemented in Jammu and Kashmir.
“It is a victory of Congress. We have written a new chapter in the history of democracy in Jammu and Kashmir,’’ he said and added that it was all due to hectic efforts of the Congress that provisions of 73rd Amendment of the Constitution of India are going to be implemented in the State.
Replying to a question on sexual harassment charges against Congress MLA Shabir Khan, Prof Soz said: “the law will take its own course’’. He added that an inquiry should be held into the charges without any bias.
On portfolio of Mr Khan, Prof Soz said the Congress would retain it. “We would shortly take a decision on the portfolio,’’ he added.

Excelsior Correspondent
SRINAGAR, Feb 8: J&K Bank today posted a net profit of Rs 321.29 cr for the quarter ended December 2013, which is up by 11.02 percent from Rs 289.40 cr earned during the corresponding quarter of the previous financial year.
The Bank announced its financial results for the third quarter today following the approval of its Board of Directors in a meeting held at Jammu.
The advances during the Q3 grew by 21.48 percent to Rs 43317.84 cr from Rs 35657.69 cr as recorded during the corresponding period of the previous year.
The deposits increased by 10.66 percent and reached Rs 63157.11 cr as against Rs 57,074.55 cr recorded for the corresponding period of previous year.
The total business of the Bank reached Rs 106474.95 cr, which is up by 14.82 percent when compared to Rs 92,732 cr recorded during the corresponding period of the previous year.
The net profit for the nine months ended December 31, 2013 increased by 15.76 percent as it jumped to Rs 931.87 cr from Rs 805.02 cr registered during the corresponding period of the previous year.
The Gross and Net NPA ratios of the Bank during the quarter have been recorded at 1.65 percent and 0.22 percent respectively which are among the best ratios in the industry.
The NPA Coverage ratio of the Bank during the quarter is 90.24 percent.
The Earnings per Share jumped to Rs 66.28 during the quarter which is up by 11.04 percent from Rs 59.69 recorded during the corresponding period of the previous year. Return on Assets (RoA) has increased to 1.88 percent.
Commenting on the Q3 results, Chairman and CEO Mushtaq Ahmad said, “In spite of the economic distress the bank has reported growth. Our strategy to maintain a quality asset book has been fruitful so far.”
“Our results sound reasonably fine amid the squeaks of stress in asset-quality of banks across the industry coupled with adverse macro-economic conditions persisting in the country. In such a scenario, our focus too has been more on maintaining quality of assets rather than raising the numbers”, he said.
“With elections looming amid economic downturn, we feel the going would get tougher for at least couple of quarters to come. Yet we feel confident to deliver growth around 15 % besides preserving our key quality parameters,” the Chairman said.
“Moving ahead with the policy of expansion, in the past three quarters we have opened 73 Business Units and commissioned 154 ATMs,” he added.
The Chairman said, “Agriculture and handicrafts shall continue to be our focus in lending within the State”.
However, amid shrinking industrial output across the country, the entrepreneurial and industrial activity within the State looks poised to pick up. “Going forward, we plan to lend aggressively to build its momentum within the State”, he said.

Excelsior Correspondent
SRINAGAR, Feb 8: Crime Branch of Jammu and Kashmir Police today produced challan against three minor students, who are the beneficiaries Board of Professional Entrance Examination’s CET-2012 scam, before the Juvenile Court at Chief Judicial Magistrate here.
The court directed the CB to produce the three accused minor students before the court on next hearing, which is to be held in the first week of March.
In the meantime, the Anti Corruption Court also heard the application of grant of pardon moved by Crime Branch for one of the main accused Farooq Ahmad Itoo.
The CB has said in the application that Itoo wants to become the prosecution witness in the infamous scam.
The court is likely to decide the application by Monday.
The Crime Branch had named 25 persons as accused in the chargesheet filed before special judge anti-corruption (Kashmir) Mohan Lal Manhas on January 12.
The accused included BOPEE former chairman Mushtaq Ahmad Peer, 12 students who got admission in the MBBS course after Peer sold question paper of the Common Entrance Test (CET) to them through Itoo.

Excelsior Correspondent
JAMMU, Feb 8: State Cabinet today accorded approval to the introduction of a bill during the forthcoming Budget Session seeking maintenance and welfare of parents and senior citizens.
Sources said that Cabinet gave nod to the proposal of Social Welfare Department regarding introduction of a bill seeking maintenance and welfare of parents and senior citizens.
“The proposal has been drafted to provide more effective provisions for the maintenance and welfare of parents and senior citizens as guaranteed and recognized under the Constitution”, sources said, adding “though Section 488 of the Code of Criminal Procedure provides that parents can claim maintenance allowance from their legal heirs yet generally the majority of them do not claim the same either because of their ignorance or for self pride as such it becomes necessary to give some security to the senior citizens so that they can lead a decent life at the fag end of their lives”.
The Cabinet also accord approval made by the Managing Director, Medical Supplies Corporation for Anti Hepatitis-C virus (HCV) therapy for Takia-Magam and Sonabrari villages (Kokernag) in Anantnag district.
Accordingly, direction was issued to Health and Medical Education Department to take up the implementation of the treatment plan in consultation with the Finance Department.
The opening of new treasuries at Ramkote in tehsil Bilawar and Bagat-e- Kanipora in district Budgam and use of forest land for non-forestry purposes also received Cabinet approval besides road from Thaley to Kothi, Ghordi to Katwalt, Parala Chakal to Chigla Balota under PMGSY in Ramnagar forest division, road from Kushal to Sambal, in Doda forest division, road from Tanward to Sundarnad, Kharpora to Neelfan Argangali in Anantnag forest division and construction of 660 MW Kiru HEP in Kishtwar forest division etc.

Excelsior Correspondent
JAMMU, Feb 8: Chief Justice of State High Court, Justice M M Kumar has transferred from Srinagar Wing to Jammu the petition filed by J&K Bank challenging the order of Full Bench of State Information Commission whereby the bank was declared as “Public Authority”.
After hearing the both the sides, Chief Justice observed, “the petition should have been filed in the Jammu Wing of the High Court as the decision challenged in the writ petition has been passed at Jammu and out of nine complainants, seven are permanent residents of Jammu province”.
“As the Bank has its established office at Jammu also, no inconvenience would be caused to the Bank to prosecute its case at Jammu. On the other hand, the applicant and others could not be asked to defend their case at Srinagar for the sole reason that Bank has its head office at Srinagar”, the Chief Justice said and directed for transfer of OWP No. 616/2012 titled as J&K Bank Limited Versus J&K State Information Commission and Others pending in the Srinagar Wing to the Jammu Wing of the High Court. Registrar (Judicial) Srinagar Wing was directed to send the file to Jammu Wing for listing the same as per roster in Jammu Wing.