Innovative models to unleash inherent economic potential: J&K Bank Chairman

Innovative models to unleash inherent economic potential: J&K Bank Chairman
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‘Bank to set up first ‘start-up facilitation centre’ at Udhampur’

SRINAGAR: J&K Bank Chairman, Parvez Ahmad on Tuesday said that industries were the premium clientele of the bank and backbone of the state economy and that the bank intends to empower every individual and every business by providing capital to entrepreneurs in every nook and corner of the state.
“The bank has reoriented its business operations in a direction that catalyses growth in the state with best service delivery to the people,” he added.
This was stated by the chairman after inaugurating the bank’s business unit at SICOP Industrial Estate Battal Ballian, Udhampur. The business unit is a specialised branch with major focus on industrial finance while also serving the general banking needs of the industrial workers and people of the villages in the nearby area, a bank handout read.
Parvez also announced the establishment of J&K Bank’s first Start-Up Facilitation Centre in Udhampur and requested the administration, SICOP and Chamber of Commerce to identify enterprising youngsters willing to take up entrepreneurial ventures for mentorship and capacity building by the bank’s facilitation centre.
Parvez urged the zonal office and cluster offices of the bank to increase outreach with people and to undertake regular field interaction with customers to get fruitful suggestions. He also urged upon the business units to ensure exceptional service to customers, especially old age pensioners as facilitators, the handout read.
He hailed the role of SICOP in sustainable industrial development of all regions of the state and facilitating modernisation. He further shared the bank’s vision to enhance its network in Udhampur area with innovative models such as Ultra Small Branches for unleashing the inherent economic potential in the area, the handout added.
J&K Bank Chairman also interacted with leading businessmen and prominent citizens/clients of Udhampur district.
He said,” We want to recognise the strengths from business viability point of view and are keen to work in close collaboration with the state administration in Udhampur region particularly SICOP to help us identify and understand the key areas which can be explored for business purposes.”
He added that Udhampur offered a potential for augmentation of service-based industries and growth of small industries in dairy, food processing and other products that can be derived from its rich plant base endowments. We have a wide range of products which can help flourish such small businesses.”