While embarking upon its mission to reach to the unreached, J&K Bank today opened its 667th Business Unit (B.U for public at Paanzan, Chadura in District Budgam.
Finance Minister Abdul Rahim Rather inaugurated the Business Unit in presence of the DDC Budgam Khurshid Ahmad Shah, Bank's Vice President Kashmir (Central Zone Vikar-ul-Mulk Nazki, Cluster Head Budgam Mohammad Ayoub Wanchoo, In-charge Marketing Altaf Mehboob Gani and a very large gathering of people like farmers, traders, students, senior citizens besides good number of women.
Lead District Manager Mohammad Yaqoob and Head B.U Paanzan Zahoor Ahmad were also present on the occasion.
The minister thanked the Bank leadership for extending banking and financial services to people of far flung areas thereby helping in the overall economic development of the state.
Addressing the people on the occasion, he said, "J&K Bank has scripted tens of thousands of individual and collective success stories across the state and has been at the forefront of economic development of the state since long.
He impressed upon the people to co-operate with the bank for their own betterment by availing the various services, products of the bank and repay their loans in time.
Speaking on the occasion, Bank's Vice President said, "Our mission is to empower the society at grass-root level irrespective of its location across the state.
That is why the Bank is expanding deeper into the rural areas and extending world class banking services to the people so that their basic economic condition improves and they too participate in and benefit from the economic development, he added.
Giving a brief over view of the cluster Budgam he said, "This is 41st B.U in the cluster and 132nd in the zone. The cluster received 15000 KCC applications during the current financial year, out of which more than 11600 were sanctioned to the tune of Rs 69 crore as on date.
The CD Ratio of the cluster is 53%, he added.
Those present on the occasion hailed efforts of the Bank and assured of their total co-operation with the staff.
The B.U has already garnered deposits of Rs 33 lacs.
Cluster Head M A Wanchoo presented vote of thanks in the end.