‘Economic well-being ensures protection of core social values’

‘Economic well-being ensures protection of core social values’
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SRINAGAR: Referring to the socio-economic development of the J&K state, Chairman, J&K Bank, Parvez Ahmed on Saturday said that our collective moral and social values have a co-relationship with the bank because these core values have been essential to create the very conducive credit culture in the state. Parvez was speaking at the Poultry Conference-2018 held here at SKICC.
As Jammu and Kashmir had a very weak social security system, it was very essential that the sectors that have the economic potential were supported well, an official handout read. “For, it is the economic well-being that ensures the protection of core social values of a society”, J&K Bank Chairman said.
“We owe it to a lot of hard work done by our earlier generations and it shines in today’s scenario where out of our Rs 32000 crore credit in the state the level of NPA is only 3 percent as compared to the NPA level of around 8-10 percent which is prevailing in the banking industry at the national level. This is sufficient as an indication that our credit culture based on these core values is still very strong even after witnessing so much disturbance in the state and these values need to be preserved,” he added.
As a bank, Parvez assured, the bank was more than willing to build and support the ecosystem around the poultry sector with forward and backward linkages. “In this regard, we shall soon tailor customised products for different stakeholders in the poultry sector”, the chairman said.