J&K Bank To Start Two Business Units Exclusively for Women

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SRINAGAR: Being the premiere financial institution of the state, J&K Bank will continue to catalyse economic development of the state through empowerment of individuals and businesses.

J&K Bank chairman and CEO on Tuesday said that besides, productive intervention in social causes ranging from health to heritage, education to entrepreneurship and culture to art will receive a renewed focus to pave way for an inclusive and sustainable growth of the state. He was interacting with the media at Hotel Asia today in winter capital.

Describing women as key enablers of empowerment, Chairman announced that Bank, “in line with” Chief Minister’s vision, will soon be establishing two business units (branches) exclusively for women, one each in Srinagar and Jammu cities.

These branches would be run only by women staff of the bank.

“Besides, we will be tailoring and introducing specific schemes for women with a special focus to promote and nurture entrepreneurship….. The loans offered to women shall be at concessional rates of interest,” informed the Chairman.

He further stressed on the Bank’s plans to encourage social and cultural enterprises as also entrepreneurship with a view to give boost to rich art forms, handicrafts and cultural heritage of the state. “Basoli paintings owing to their artistic excellence and national & international acclaim is a case in point,” he observed.

Maintaining that empowerment is subservient to education, he outlined his strategy to give boost to education finance by making it hassle-free, offering competitive rates of interest, entering into tie-ups with reputed academic and professional institutions across India and organising Education Loan Mela during admission season an annual feature.

“Information Technology specific education finance products will be a priority”, he said.

The bank would extend complete support to tourism industry in line with the regional requirements, he said, adding, innovative products and services would be devised to explore potential of religious tourism in the state. “Specific products for pilgrims from across country coming to Amarnath Yatra and Mata Vaishno Devi pilgrimage would be devised on priority,” he stressed.

“Our focus from now on will be future. We will concentrate on developmental initiatives, potential business areas, innovative productisation, social banking, micro-financing, under-serviced and unorganized potential sectors to streamline financing structure and customer service up gradation,” he stressed.

 

Stating that encouragement of the local industry will remain one of his top priorities, Chairman said that Bank will be supporting the industrial sector through effective delivery mechanism and valuable inputs from the industrialists.

 

Laying emphasis on customer service, Chairman announced the establishing of Customer Grievances Redressal Cell in Chairman’s Secretariat Jammu with immediate effect, the broad details of its mechanism shall be published in leading Newspapers of Jammu very shortly.

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