NEW DELHI: Jammu & Kashmir Bank is looking at achieving a loan growth of 25% in the current financial year 2013-14, helped by an estimated 30% growth in loans from its home state alone, the Business Standard reported citing the bank's Chairman and Chief Executive Officer Mushtaq Ahmed.
"Jammu and Kashmir (state) continues to be a focus area for us," he told the daily in an interview.
The lender's outstanding advances rose 18.51% on-year to Rs 392 billion as on March 31, 2013.
On...
Posted 1 day ago
JAMMU: The number of identified sick industrial units in Jammu and Kashmir is rising and industrialists say the government is not taking adequate measures to arrest the degrowth in the sector.
"The number of sick units has gone up to 457 till March 2013 from 350 in 2011," said a state government official.
According to the official, there are 25,000 units in Jammu and Kashmir, including 150 large and medium scale. Of these, about 11,300 are in Jammu region and remaining in the Kashmir...
Posted 2 days ago.
SRINAGAR: Jammu and Kashmir Bank will add over 300 new business units in the next two years to take the total number of units to 1,000, according to a top official.
The bank at present has 689 business units and 613 ATM outlets spread across the country.
"After surpassing targets of Rs one lac crore business and Rs 1,000 crore net profit, J&K Bank has set a goal of 1,000 business units by 2015. The bank also envisages massive ATM network expansion," chairman and CEO of the bank...
Posted 5 days ago.
Mujtaba Wani
SRINAGAR: As tourism makes a slow comeback in Kashmir, authorities in the bloodied region are wooing visitors with a fortnight-long tourism festival and discount bonanza, the first in recent past.
Air India, state government, hoteliers, tour and travel operators have announced special packages for tourists visiting the valley from May 15 to May 29.
"Government would focus on highlighting the local heritage besides organising trips to lesser known...
Posted 8 days ago.
SRINAGAR: There was still no respite from the cold as rain lash Kashmir valley, including summer capital, Srinagar, resulting in drop in the temperature, causing concern among the farmers.
A Met department has forecast thundershowers in the Kashmir valley during the next 24 hours. People continued to wear woollen and warm cloths in the valley, where electronic and other gadgets besides 'Kangris' are still in use for heating purpose.
Sustained below normal temperature has affected normal...
Posted 10 days ago.
SRINAGAR: Jammu and Kashmir government today said various steps have been taken to cultivate basmati rice on commercial lines in the Valley under Basmati Mission, as it has a huge market potential.
"Steps have been taken to cultivate basmati rice on commercial lines in the Valley under Basmati Mission, as the product has huge market opportunities, both nationally as well as internationally," Minister for Agriculture, Ghulam Hassan Mir said after inaugurating the first of its kind Basmati...
Posted 12 days ago.
Masood Hussain
SRINAGAR: Three generations of the Modi family descended in Srinagar on May Day to celebrate the 50th wedding anniversary of Promila Saraf – one of the six sisters to the five Modi brothers.
The Modi-Saraf families had their last family get together in the Valley in 1982. "We would hire a Donga boat, park it in the middle of the Dal Lake as a couple of motorboats would bring provisions till midnight," remembers KK Kanoria, who is married into the...
Posted 15 days ago.
Masood Hussain
SRINAGAR: The incursion of a Red Army platoon 19 km inside the border in eastern Ladakh and the ensuing standoff between New Delhi and Beijing have impacted the livelihood of hundreds of locals : their 'trade'.
Unlike the popular perception in mainland India, the historical tracks that link Ladakh to the main Silk Route did not shut down after India and China officially sealed the borders.
Instead, eastern...
Posted 25 days ago.
Masood Hussain
SRINAGAR: Comptroller and Auditor General has suggested a separate mechanism that would take care of the central fund devolutions skipping state treasury system in J&K. Quantum of these funds is on the increase.
Against Rs 1797.81 crore that various central organizations transferred directly to different state apparatuses in 2010-11, Rs 2875.41 crore was transferred in 2011-12.
For...
Posted 28 days ago.
Masood Hussain
SRINAGAR: Now that the Attorney General has opined that Punjab cannot object to it, the Jammu and Kashmir government is planning to go ahead with the construction of the Ravi canal from Basantpur up to the inflow of the Ranjit Sagar Dam reservoir to lift water for irrigating 1.33 lakh acres in Jammu.
The state had approached the AG in February...
Posted 30 days ago.
