The amount was paid as dividend for the year 2009-10.
With today’s payment the Government, which owns over 53% of bank’s stock, has earned a total dividend income of Rs.284.44 Crore on its investments since 1938.
As per the current market price, the investment amount of Rs. 53 Crore in the Bank by the government has appreciated to Rs.2005 Crore.
Being the principal banker to the state government, the J&K Bank continues to improve its services, expand its branch, ATM network and extend facilities to all its stakeholders that include a substantial number of government employees who receive their salaries through our extensive network of Business Units.
The bank intends to increase its business portfolio within the state by targeting un-banked sectors and intensify its programme of financial inclusion.
The bank is also partnering with the Government’s economic initiatives for peoples empowerment which includes promotion of entrepreneurship, skill development and employment generation programmes.
Towards this end, the bank has recently entered into a tripartite Memorandum of Understanding (MoU) with the
It may be mentioned here that Mushtaq Ahmad assumed charge yesterday as the Chairman and CEO of J&K Bank after his appointment was approved by the Reserve Bank of India (RBI) and communicated to the state government yesterday.
Having joined the Bank in 1972 as Probationary Officer (PO), Mushtaq Ahmad has a distinguishing career of 36 years as a prudent banker. His personal progression has been a vital and contributing element of the unfolding success story of J&K Bank since more than three decades.
Before his retirement as Executive Director of the Bank in February 2008, he held some of the most significant positions in the bank and discharged all his duties with honesty and distinctive vision.
His person makes an ideal blend of specialized knowledge and practical experience in almost all the critical fields of contemporary banking, which include Credit/Risk Management, Strategy and Business Development, Assets & Liability Management, Human Resource Development, Investments, Treasury, Forex operations, International Banking, Insurance etc.
As a leading banker, he commands huge respect for his prudence, esteem for his discipline and affection for his leadership skills in the Bank as well as the industry.
As a top executive, Mushtaq Ahmad lays great emphasis on talent search, human resources development, skill enhancement, besides team building.
Having an ease with expression and filled with experience of practical banking, his colleagues at the bank are excited about his integrity, professional capacities and sartorial elegance.
As a top executive of the bank, . Mushtaq has been part of various apex banking bodies both at national and international levels.
Meanwhile, the management of the bank hailed the contribution of the Apex Management Committees during the interim period. Notably, these committees were headed by Sudhanshu Pandey, Commissioner/Secretary, Finance department, J&K government.
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