Tag: jammu and kashmir bank (jkb)

JK Bank Partners With CIMSME To Boost MSME Growth

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SRINAGAR: J&K Bank has signed a Memorandum of Understanding (MoU) with the Chamber of Indian Micro, Small & Medium Enterprises (CIMSME) in order to accelerate the growth of manufacturing enterprises. CIMSME is the apex chamber of MSMEs in India, representing their interests and issues with the government and various regulators while being an active participant in MSME-related policymaking.
During the signing of the MoU, General Manager Ashutosh Sareen signed on behalf of J&K Bank, while President Mukesh Mohan Gupta signed for CIMSME in the presence of MD & CEO Baldev Prakash, Executive Director Sudhir Gupta, General Manager Narjay Gupta, Director (CIMSME) Subhash Joinwal, DGMs, and other senior bank officials. The divisional heads of the bank also joined the function through VC Mode.
MD & CEO Baldev Prakash praised CIMSME for its role in promoting MSMEs and expressed pleasure over the signing of the MoU. He said, “As a responsible financial institution, we understand that the MSME sector plays a critical role in fostering entrepreneurship and generating huge employment opportunities, thereby contributing greatly to the country’s GDP. Moreover, MSME lending is profitable for the banking industry, and we need to translate this MoU into solid business growth, especially in the rest of India because this is the sector which complements the large industries in the form of subsidiary units that are vital to the entire ecosystem.”
MD Baldev Prakash asserted that the MSME sector will bolster the economy of the Union Territory and the country alike, and that the bank will ensure that bankable leads generated by CIMSME are processed in a time-bound manner.
President (CIMSME) Mukesh Mohan Gupta spoke on the occasion and expressed his pleasure at the tie-up with J&K Bank. He emphasized the need to educate lenders and borrowers of the MSME sector about various schemes and processes to avail the facilities. He further added, “We will soon be coming up with a web portal for ease of both MSME lenders and borrowers.”
Executive Director Sudhir Gupta stated that the signing of the MoU with the apex chamber is akin to forging a partnership that will go a long way in promoting the culture of enterprise across the country while adding to the bank’s business profile.
Under the tie-up, CIMSME will not only source the MSME/Startup proposals across the country but will also conduct due diligence of these proposals as per the bank policy and RBI guidelines. Once CIMSME is satisfied with the financials and track records of the company/firm, the leads will be shared with the bank for further processing.
J&K Bank has provided benefits of employment to around 92000 youth till March 2023, under the J&K Government’s flagship programmes ‘Back to Village 4.0’ and ‘My Town My Pride’ – a feat that has been hailed by the UT Government and people alike.

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#Bank #Partners #CIMSME #Boost #MSME #Growth
( With inputs from : kashmirlife.net )

April 11, 2023
Under CSR, J&K Bank Collaborates With SKIMS To Help Poor Cancer Patients

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SRINAGAR: Under its Corporate Social Responsibility (CSR) Program, J&K Bank presented an amount of Rs 14.40 Lacs to the premier healthcare institution of Jammu and Kashmir for procurement of Platelet/Therapeutic Plasma Apheresis kits for treatment of poor patients suffering from cancer and severe blood dysfunctional diseases.
JK Bank’s Divisional Head Kashmir, Syed Shafat Hussain on Wednesday handed over the cheque to Director SKIMS, Professor Parvez Koul
An official statement reads that in a function organized at SKIMS Soura, the Bank’s Divisional Head Kashmir, Syed Shafat Hussain today handed over the cheque to Director SKIMS, Professor Parvez Koul in presence of Head Paediatric Oncology Department Dr Javed Rasool and Head BU SKIMS, Syed Irfan besides other officials of SKIMS and the bank. Pertinently, the event coincided with the ‘International Childhood Cancer Day’, which is observed on 15th February all over the world to raise awareness about childhood cancer and honours all the children and families experiencing the effects of the disease.
Speaking on the occasion, Syed Shafat Hussain said, “Healthcare is critical for every society and with rise in the number of patients suffering from terminal ailments in J&K, we do feel the need to step in and do our bit. However, as a socially responsible institution, it is a very humble contribution from J&K Bank to SKIMS Srinagar for the patients who cannot afford these kits critical for their treatment.”
“Besides empowering the people financially, J&K Bank has been contributing to the society through its CSR activities meant for helping the economically weaker sections especially in health sector. We believe our little support would help many patients and alleviate the hardships of their families,” an official handout quoted Syed Shafaat Hussain as having said.
According to statement, Director SKIMS Srinagar thanked the Bank for the contribution and expressed hope that amid rising number of patients suffering from such dangerous diseases and dysfunctionalities, the Bank would increase its CSR spend towards healthcare as a large number of the patients hailing from weaker socio-economic background visit SKIMS Hospital for treatment in pediatric oncology every year who find it difficult to afford expensive Apheresis kits containing Platelet/Therapeutic Plasma. “With J&K Bank’s earlier support, we have been able to increase the survival rate among the children suffering from cancer and many of them are today present in this function to collectively thank J&K Bank for their help and support,” he added.
Pertinently, in the last year also, J&K Bank had contributed an amount of Rs. 7.85 lacs to SKIMS for procuring these kits which have been utilized for the treatment of hundreds of poor patients especially children.

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#CSR #Bank #Collaborates #SKIMS #Poor #Cancer #Patients

( With inputs from : kashmirlife.net )

February 15, 2023
Filthy Washrooms To Lack of Testing and Hostel Facilities, GMC Baramuala Has It All

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by Masrat Nabi
BARAMULLA: The Associate Hospital of Government Medical College Baramulla has failed to come up as an alternative tertiary care health facility for the north Kashmir districts. The hospital lacks diagnostic facilities, hygienic washrooms and also proper accommodation facilities for students.
LG Sinha Lays Foundation Stone of GMC Baramulla on August 14, 2022
The hospital’s washrooms are filthy with the potential to further accentuate an illness or even start a new one.
“Hospitals are meant to make us feel safe and provide an environment where one receives proper medical attention,” Muneera Hassan, a patient said. “But these washrooms here are in a mess.”
A group of patients said that they feel that they are at risk of contracting new infections due to the poor hygiene level of the hospital.
Safeena, a patient said, “The air stinks, there is urine on the floor, and the water faucets are broken.”
Suraya Malik said, “Once I opened the door of a toilet at the hospital I had to immediately step back because a musty, unpleasant odour permeated the air. I could barely make out the shape of the commode as it was covered in mould and mildew. A thick layer of grime had accumulated on the walls and floor, and it was clear that no attempt had been made to clean this public space.
Suraya then opted for the washroom of a nearby restaurant.

Students of GMC Baramulla in December 2022. Pic: GMC Baramulla FB page
While unhygienic washrooms are a part and parcel of the hospital, the facility also doesn’t conduct the ECHO test for several months. An ECHO is an important device used to evaluate the condition of the heart and is essential for patients suffering from cardiac ailments. It checks the structure of the heart and surrounding blood vessels, analyses how blood flows through them, and assesses the pumping chambers of the heart.
The ECHO test facility was started a few years ago at the hospital after Jammu and Kashmir Bank donated the device under Corporate Social Responsibility (CSR).
However, the hospital authorities have failed to ensure that the device was regularly maintained. The ECHO device granted to the hospital by Jammu and Kashmir Bank was in reality secured by the civil society of Baramulla who persuaded the higher officials of the lead bank.
Like the washrooms and the ECHO, the students pursuing their MBBS course from the Government Medical College Baramulla are also in the doldrums.
The students have been complaining about the non-availability of hostel facilities within the premises along with the lack of transport facilities as well. The situation has forced many students to opt for costly private accommodations wherefrom commuting is also expensive. The college has students from as far as Jammu and Ladakh who are forced to take these private accommodations adding to their monthly expenses.
Also, the students have raised concerns about the limited availability of laboratories in the college.
A student said, “Anatomy lab isn’t a proper one. We were supposed to do a practical session at the forensic lab but that never happened. We had to contend with digital content. This presents some difficulties since online content cannot provide the same level of interactivity and first-hand experience that a laboratory setting would have given us.”
A group of students said, “We were promised hostel facilities within the campus. Completion of the hostel seems a distant dream given the slow pace of work,”
Medical Superintendent GMC Baramulla Dr Parvez Masoodi said that on daily basis they receive around 7000 patients for which limited washrooms are available. “We have already put people for proper sanitation in the hospital. But with such a huge influx of patients, it is becoming increasingly difficult to maintain hygiene, yet the health of our patients and staff remains a priority.”
“I have also implemented strict cleaning protocols to ensure that every single washroom is cleaned and disinfected thoroughly at least twice a day, and we will expand the infrastructure and build more washrooms so that we can provide a safe and healthy environment for everyone.”
Principal GMC Baramulla Dr Rubi Reshi didn’t want to comment on the story.

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#Filthy #Washrooms #Lack #Testing #Hostel #Facilities #GMC #Baramuala
( With inputs from : kashmirlife.net )

February 2, 2023
JK Bank Mets Rs 312 Cr In Q3

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SRINAGAR: Jammu and Kashmir Bank’s net profit witnessed a 79 per cent rise on a year-on-year (YoY) basis to Rs 311.59 crore for the December quarter of fiscal 2022-23. In the same quarter, last year, the profits were at Rs 173.95 crore.
A man shows new Rs 2000 currency after exchanging old Rs 500 and 1000 denominations at Srinagar on Thursday 11 November 2016. KL Image Bilal Bahadur
The bank announced the results after its Board of Directors reviewed and approved the numbers for the third quarter and nine months ended December 31, 2022, in a meeting held today at Bank’s Gurugram Office in Delhi.
Bank officials said they are on the anticipated trajectory to meet annual profit targets. The bank’s profit for nine months is up 85 per cent to Rs 721.05 crore from Rs 389.36 crore recorded during nine months of the last fiscal.
The Bank’s Net Interest Income (NII) surged by 27 per cent YoY to Rs 1257.38 crore for the December quarter when compared to Rs 993.30 crore recorded last year, while growing 19 per cent YoY for nine months to Rs 3495.73 crore. The Bank’s Operating Profit grew by 65 per cent YoY to Rs 544.11 crore for the December quarter, of 2022.
The Bank’s NIM has also improved by 54 basis points (bps) YoY to 4.10 per cent – the highest in the last seven years – while as the Return on Assets rose to 0.92 per cent for the December quarter from 0.57 per cent recorded last year. With Yield on Advances improving by 90 bps to 9.34 per cent, the Bank’s steadily moderating cost-to-income ratio has come down further to 63.71 per cent for the third quarter.
The Gross NPA Ratio of the Bank has further come down 168 bps YoY and 42 bps QoQ to 7.25 per cent for the quarter, while as the Net NPA ratio has moderated YoY by 94 bps to 2.08 per cent. The provision coverage ratio (PCR) of the Bank stood at 84.83 per cent for the quarter that ended in December 2022.
The top bank executive said they have brought down our Net NPAs to 2.08 per cent, which is the lowest in the last eight years.
Meanwhile, the Bank’s net advances are up 14 per cent YoY and 4 per cent QoQ to Rs 77639 crore during the quarter reviewed while as the deposits have grown 8 per cent from Rs 109298 crore to Rs 117935 crore. However, the Bank witnessed 21 per cent YoY growth in advances in its operational geographies across Rest-of-India (RoI).

The Bank’s overall business increased by 10 per cent to Rs 195574 crore from Rs 177664 crore recorded last year while as the Bank’s CASA Ratio continues to remain one of the industry’s best at about 54 per cent.
With the tier-II capital augmentation of over Rs 1000 crore, the bank’s Capital Adequacy Ratio rose up to 13.82 per cent as against 12.38 per cent recorded as on December 31, 2021.
The capital augmentation through the raising of tier-II bonds worth Rs 1021 crore during the December quarter has cushioned the bank to comfortably execute its envisaged growth plan, especially in the rest of India. Bank’s CRAR has improved to 13.82 per cent.

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#Bank #Mets
( With inputs from : kashmirlife.net )

January 23, 2023