Chairman J&K Bank presents dividend cheques of Rs. 128.88 cr to CM

Bank also contributes Rs. 5 cr to CM’s Flood Relief Fund

Special package for business community to be rolled out today


SRINAGAR: Chairman J&K Bank,Mushtaq Ahmad on Friday presented two dividend cheques amounting to Rs.128.88 crores to Chief Minister, Omar Abdullah here. Jammu and Kashmir State Government is the largest share holder of the Bank and owns over 53 percent Bank’s stock.

While presenting the cheques the Chairman of the Bank stated that a total dividend income of Rs. 713.19 crore has been paid by the Bank to the State Government since 1938. Of this, Rs. 411 crores have been paid during the last four years, he added.

The Chairman J&K Bank also presented Rs. 5 crore relief to the Chief Minister’s Relief Fund for the flood affected people of the State. He said the Bank intends to pay another installment of Rs. 5 crores to the Chief Minister’s Relief Fund shortly for which process has already been set in.

Minister for Finance, Abdul Rahim Rather, Chief Secretary, Mohammad Iqbal Khandey, Principal Secretary Finance, B. B. Vyas and senior officers of the Jammu and Kashmir Bank were present on the occasion.

The copies of Annual Report of J&K Bank were also presented to the Chief Minister and other dignitaries on the occasion.

The Chairman of the Bank referred to the Bank’s gesture towards flood affected people and said that the Bank provided relief material and ration to the affected people and organized medical camps for them. He said that the Bank in a swift operation managed to make its branches functional in shortest possible time and so far over 90 percent branches of the Bank are fully functional.

Mushtaq Ahmad said that special package for affected industrialists, businessmen and traders has been approved and the same is being rolled out today.

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