Celebrating 80th foundation day, J&K Bank launches 9 products

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Remain No. 1 by miles and not by inches: Navin Chaudhary

Srinagar, Oct 1: Sharing its spirit of 80th Foundation Day celebrations with the people of the state and outside, J&K Bank today launched 9 new products here at the bank’s Corporate Headquarters.

Representing the major stakeholder of the bank on the occasion, Principal Secretary Finance J&K Government Navin Kumar Chaudhary, who is also Promoter-director on the bank’s board, e-inaugurated the products and services in presence of Chairman and CEO Parvez Ahmed, General Manager RBI H K Soni, directors on board Mohammad Maqbool Rather, Mohammad Ashraf Mir, Daman Kumar Pandoh and Azhar-ul-Amin.

The celebratory event was attended by the bank’s Executive Presidents, Presidents, Vice-Presidents and all the other staff posted at CHQ.

Speaking on the occasion, Navin Kumar said, “Eighty years is not old age for an institution. You are a young bank with a glorious history. You are lucky to have the founders who could conceive, implement and establish such an institution to serve the people of this place, which was so remote, inaccessible, and culturally different.”

“I congratulate you on every remarkable thing related to your institution”, he added.

Commending the role of bank’s executive management and staff on the occasion, he said, “In the board, we make policies, fix targets and discuss strategies but on the ground, it is because of your efforts and efficiency everything gets realized.”

Stressed upon the bankers to ensure that they offer best, fast and hassle-free services to the customer, he said, “So many years of administrative experience has taught me that delaying the decision does not turn it to be great. Therefore, prompt decisions must be taken to decide the cases whether that be related to borrowers or other things.”

Urging the employees to put in their best efforts, he asserted that J&K Bank is the best employer in the state.

“The way it looks after your needs, you need to be more dedicated. Besides, you are part of this society and whatever services you offer is for the benefit of your own society”, he said.

Cautioning the bank not to cede any ground to other competitors in the state despite so many advantages, he said, “With the kind of your strengths and resilience, you must remain No. 1 by miles and not by inches.”

Instructing the staff to act with a conscience he said that growth of an organisation is best ensured when its human resource goes beyond routine in making their contributions.

He also advised the staff to work towards a greater goal of figuring in the top 10 banks of the country in all the parameters within the next 20 years as the bank reaches its 100th year of existence.

Pointing to the challenges faced by the bank, the Promoter-director said that it was for everybody from Chairman to board to executive management to the last man in the bank to pull together and reach the glorious destination at 100.

Present on the occasion, GM (RBI) H K Soni appreciated the remarkable job the bank has done in profitability and financial inclusion, which he said were the two faces of the same coin. He also acknowledged the unique emotional connect of employees towards the bank calling it an asset for the bank’s leadership.

While congratulating the bank on its 80th foundation day, he expressed hope that bank maintains the upward momentum of growth.

However, he stressed upon the leadership to document the history by the recollecting the journey of the organisation which is second youngest among the old private sector banks in the country.

Earlier, Chairman and CEO Parvez Ahmed welcomed the dignitaries.

Speaking on the occasion, he said, “Times like these offer an opportunity to revisit our underlying objectives behind the establishment of this Bank where we find our guiding principle and Bank’s vision and thank all stakeholders in this journey.”

Chairman acknowledged and thanked the promoters i.e. the State Government for their constant patronage and support in making the Bank one of the best examples of a semi-state institution which has achieved new milestones from time to time.

He also expressed his sincere thanks to the Chief Secretary, BVR Subrahmanyamji for his experience-rich guidance.

“During various interactions I have had with him, he is always very keen about the role of J&K Bank in the economic development in the state.”

His vision for the Bank, Chairman said, is an inspiration towards building a premier Financial Institution recognized across the globe.

We owe a lot to the founders of this institution especially Maharaja Hari Singh whom, he said, was a great visionary.

“I also take this opportunity to express my sincere thanks to the Promoter-Director Principal Secretary, Finance Navin Choudhary for consistently spearheading Bank towards a path of transformation through his valuable suggestions and consistent support to us.

Calling him a dynamic administrator and policymaker, Chairman said, he has played an instrumental role in making the Finance Department technology friendly bringing in the best practices in revamping the department and the same encouragement he showed to us as we adopted a transformation journey to incorporate the best industry practices.

“His valuable guidance, especially in terms of aligning the services of the bank with customer expectations in the current times, has been the guiding principle in shaping our policies”, Chairman said.

“And we will try our best to meet the expectations of our promoters”, he added.

Chairman also reiterated that the Bank shall always be part of every government initiative aimed at the socio-economic development of people of Jammu and Kashmir.

“This is an opportunity to place on record the guidance and handholding of our regulators especially the Reserve Bank of India who has always mentored our Bank. RBI is a beacon in the Global Financial Market which has been successful in creating and maintaining a robust Banking system in the country. The Financial Inclusion Initiative of the RBI has been unique in the upliftment of the economically weaker sections especially in our state”, he said.

Parvez Ahmed also acknowledged and appreciated the role played by the directors on the bank’s board in refining his role as the bank’s Chairman.

He admitted their contributions in carving out the growth trajectories of the bank through their timely advice from time to time.

“Our customer service needs to improve for it is essential for us to provide best products and services to our customers that match the best available in the country and align our systems and procedures in line with the expectations of regulators”, he said.

Expressing strong optimism in the face of difficulties, he asserted, “We also have other challenges like managing our NPAs, but the kind of dedication our staff has and with the support of our promoters and goodwill of our customers, we have a great future going forward.”

“Once again on this Foundation Day, I extend my heartfelt wishes to all members of J&K Bank Family including past CEOs of the Bank, retired Bank employees and most of all to our esteemed customers who have constantly shown us their trust and faith in giving us the opportunity to serve towards financial empowerment thereby leading the transformation in the J&K economy”, Chairman said.

The function concluded with the vote of thanks presented by Executive President P K Tickoo, who thanked all the dignitaries and participants present on the occasion.

Cake cutting ceremony was also held towards the end of the function.

Meanwhile, the products launched include Special Bachat Deposit Scheme, Sahafat Finance Scheme, Flexi Recurring Deposit Scheme, Health Fitness Equipment Finance, Pink Silver Saving Scheme for women, and Start Again-Finance Scheme for Start-ups for Retired Employees. Platinum Credit Card, World Credit Card and Multi-Currency Travel Card and J&K Bank Bhim Aadhar Pay Mobile App were also unveiled on the occasion.