Jammu and Kashmir Bank should look beyond Indian shores: Omar Abdullah

Written by PTI | Jammu | Updated: Jan 4 2014, 20:40pm hrs
OmarJammu and Kashmir bank needs to outline a vision how it will be on its 100th anniversary and then work towards that goal. PTI
Pitching for outlining a vision for Jammu and Kashmir Bank in the next 25 years, state Chief Minister Omar Abdullah has said it should look beyond the Indian shores to have a global presence.

"I hope over the course of next few months, J&K Bank family will roll out for itself a vision - what the next 25 years look like - I assure you as long as I am here, I will support you," Omar said.

He was speaking at the platinum jubilee celebrations of the bank here last night, in which state Governor N N Vohra was the chief guest.

The bank needs to outline a vision how it will be like on its 100th anniversary and then work towards that goal, he said.

Abdullah said there is a need to identify and fix short-term goals including lending support to agriculture, entrepreneurs, small farmers, traders, artisans and young persons.

He expressed confidence that the bank will 'definitely' focus on those goals and work towards meeting its targets in corporate social responsibilities while maintaining its credit/deposits ratio.

"But above all, the most important thing is where we want to see J&K Bank in terms of national footprint. Where J&K bank will see in terms of its international footprint," he said.

Omar said he agreed with the views of Union Finance Minister P Chidambaram earlier at the event that J&K Bank now needs to look beyond the borders of India and expand operations overseas.

Strongly batting for commencement of Overseas operations, the Chief Minister said he wanted to know whether the bank would have branches in places like London, Dubai, New York, Hong Kong and Singapore.

"So what if we plan 50 branches, and we will have only 20 --if we do not plan for those 50 who knows where we will be--" he questioned.

"J&K have had sterling first 75 years years--but where they go from here is more important than what they have celebrated in their first 75 years.It is not enough for us to rest on our laurels..", he said.

Abdullah further said "the 75th anniversary gives golden opportunity to the Chairman and his team to lay a road map for the future...

"It will not be out of place to suggest that chairman and his team would sit down in the next few months and outline a vision - a vision where they will see J&K bank on its centenary year--where they will see J&K bank in light of other banks".

"There is no harm in dreaming. We may or may not reach, but it is only when you dream of Mars you reach the moon. Nobody can fault you for dreaming".

Congratulating J&K Bank for its success story of growth and development during the last 75 years, Omar offered his best wishes to be bank for its future growth.