Need To Improve J And K Bank’s Functioning

Chairman and Managing Director, Jammu and Kashmir Bank R.K. Chhibber on Thursday called on the Governor, Satya Pal Malik here at the Raj Bhavan and held detailed deliberations on the overall health of the bank.
An official spokesperson said Chhibber briefed the Governor about various initiatives taken by the Bank to further stimulate its functioning vis-a-vis improving customer services and safeguarding their financial interests. He also spoke in length on the public perception that has been created in some circles regarding the merger of the J&K Bank and informed that the fundamentals of the Bank are very strong and there is no such move contemplated in the near future.
The Chairman informed that the recent crisis of the Punjab and Maharashtra Cooperative (PMC) Bank in the country has worried bank customers in general, but the rumors of J&K Bank’s merger are totally unfounded and incorrect.
He assured all esteemed stakeholders that the bank is functioning safely in the hands of the more than 12000 strong J&K Bank families under the supervision and guidance of a professional Board of Directors and a robust accountability framework in place for ensuring transparency and efficiency. He said that the J&K Bank has a market share of more than 65% in the State and more than 12 million account holders from two million households and a total business around Rs 1.65 lakh crores.