It is my privilege to address the 73rd Annual General Meeting of the Shareholders of J&K Bank. On behalf of the Board of Directors, the management, officers and employees of the Bank I welcome all of you to this AGM. At the outset, I express my gratitude to you all for your continued support and patronage.
The J&K Bank has shaped its glorious path through your trust and support.Your faith in the Bank and expectations from it are a continuous motivation for us to perform and serve. The financial year 2010-11, as all of us know, has been a turbulent one.The world economy is now on a slow recovery path after the chaotic situation that the economic meltdown caused. It has definitely exhibited a positive change but there are still some concerns, some worries and some question marks.
It is with great personal pleasure and with a sense of professional privilege that I rise to address the Annual General Body Meeting of J&K Bank.
May I, on behalf of the Board of Directors, the management, officers and employees of the Bank welcome all of you to this AGM.
This is our Bank’s 72nd AGM. With every passing year, the Bank grows not just in size but also in strength, stability and stature. Now, it is not just a bank but an iconic institution.
There is an ancient Chinese curse
which says, ‘May you live in interesting times!’ The
times that all bankers and finance professionals are
living in currently, are nothing if not interesting.
No doubt these are difficult times, but they also
are most interesting and rewarding. They challenge us, they test us, and
occasionally they even bring out the best in us.
So the saying is as
much a blessing as it is a curse. In these times, to
be a part of a well-regulated conservative system,
which was earlier seen as an albatross, has turned
out to be our biggest alleviator. The calibrated
liberalization of the financial sector, low
defaulter ratio, absence of complex financial
products, regular intervention by the Central Bank,
proactive adjustment of monetary policy and
pervasive prudential norms within a so called close
banking culture has succeeded in insulating the
banking industry in India from the distress caused
by the global financial turmoil.
