Jammu and Kashmir Bank, state’s oldest and the premier financial organisation has turned 80. It celebrated the landmark Foundation day by taking a pledge to strengthen the bank.

Details revealed that the bank employees across the state reached their offices in a specially designed uniform. The first thing that they did in their bank branches 80 and the offices was to take a pledge about strengthening the bank. Later, the entire staff of all the offices moved out to the nearest markets to convey the message.

The main function was reported at the JK Bank headquarters where the chairman and the CEO Parvez Ahmad presided over the main function. The event was webcast live on the bank’s social media. It was soon after that the bank launched a series of new products which will be available across the branches.

Ahmed e-inaugurated 40 delivery points including 12 Business Units including 6 ultra small branches (USBs), 21 ATMs and 7 Cash Deposit Machines. He also announced the regularization of around 600 personnel engaged for casual services for more than 10 years service as Banking Attendants.

All the branches of the bank had their own celebratory functions within the premises they operate from. They later moved out jointly, mostly to the markets nearby. Some of them were carrying small placards about the bank as well.

What was interesting was that the bank staff took to social media to convey their presence using their own accounts. They put on their photographs of the celebrations that literally flooded the social media space.


The bank spokesman said it was an unprecedented act of celebrating their Foundation Day in unison across the country. The entire staff of J&K Bank working at various operational geographies led by Chairman and CEO Parvez Ahmed unanimously read-out a pledge statement vowing to fulfill the bank’s founding objective of financial empowerment.

J&K Bank Pledge

Wearing branded-for-occasion white T-shirts and caps or stoles, the bank’s more than 11000 employees across the country reaffirmed their commitment to offer the best services and financial solutions to the bank’s customers.

Among other things, the staff echoed the Chairman’s promise to strengthen their bonding further with all its stakeholders especially customers, investors, and promoters by upholding the spirit of service with integrity and dedication.

The main function in this regard was organized here at the bank’s Corporate Headquarters (CHQ) while as all the Zonal offices across the country were connected through the video-conference link.

On the occasion, the bank staff took out symbolic rallies for reaffirming their commitment towards their organization and the people at large.

Chairman Speaks

“Our customers must leave with better feelings from our delivery points because the future of our bank is very much linked to these feelings. With a deep sense of emotional equity invested with us, they expect quite higher from us. But we need to understand that meeting their expectations simply means realizing our business goals. Therefore, we should strengthen our mission from now onwards to ensure that customers feel satisfied rather delighted with our services and products.”

Promising to strengthen its bond further with customers on 80th Foundation Day, Chairman and CEO stated this during his keynote address here at the bank’s headquarters, which was broadcasted live to the entire staff of the bank posted across the state and outside.

Besides live streaming the address on social networking platforms like Facebook, the bank had organized an audio conference facility for its business units at remote locations.

It is a matter of experience for organizations like ours that the more value we deliver to our customers, the better the returns we receive. Therefore, best products/ services, exemplary behaviour, and unique institutional care remain at the heart of our growth and development as the leading bank here and competitive financial institution outside the state.

On the occasion, Chairman Parvez Ahmed e-inaugurated 40 delivery points including 12 Business Units including 6 ultra small branches (USBs), 21 ATMs and 7 Cash Deposit Machines. He also announced the regularization of around 600 personnel engaged for casual services for more than 10 years service as Banking Attendants. Besides, acknowledging the contributions of its retired employees, the bank announced a welfare scheme for its retirees.

Amid thunderous applause in the jam-packed lawn of the corporate headquarters, Chairman Parvez Ahmed commended the entire staff for their strong resolve, consistent resilience, and an unmatched capacity to shine in darkest of times.

“Right from our inception when we suffered the consequences of partition, we have been facing difficult challenges whether that be because of conflict, public unrest or natural calamities. But every challenge has witnessed us emerging stronger because of your exceptional talent, confidence, and dedication”, he said.

Giving examples of staff commitment the Chairman recalled that in just 10 days the bank had opened 13 lac accounts under PMJDY and during implementation of Apple Finance Scheme, the number of mere 16000 growers has increased to 1.75 lac taking the financial exposure from mere Rs 400 Cr to around Rs 3000 Cr.

“Having experienced all this throughout my career here, as soon as I assumed the Chair, I sincerely communicated all the problems faced by the bank then. And today, we are here to see the results. You have successfully transformed the perceptions and won over not only some many pessimists but some cynics too,” the chairman said.

“With management on board, I shall continue to work for your welfare because I am certain of your abilities to fulfill most of the apparently impossible tasks”, he said.

Paying a glowing tribute to the founders of J&K Bank particularly the then Maharaja Hari Singh, Chairman said that he wanted to build an institution that would understand the needs of people and focus relentlessly on their socio-economic development.

“Today, we pay our highest regards to all the founders who dedicated this great institution in the service of people of J&K”, he said.

Appreciating the role of predecessors, he said, “We are where we are because of the exemplary toil and exceptional spirit of service they have displayed under difficult circumstances, therefore it is also time to acknowledge and admire every single person who has contributed in shaping this great institution since our incorporation day in 1938.”

As a token of appreciation and expression of gratitude, I feel honored to announce a welfare scheme for our retired colleagues wherein we have tried to extend the maximum possible benefits to them.

Enumerating Payment Banks, NBFCs, Fin-Tech companies among major challenges facing the bank, Chairman emphasized the need to meet this mid-way through appetite for business driven by the collective passion for staying ahead of others.

9 New Products Launched

Sharing its spirit of 80th Foundation Day celebrations with the people of the state and outside, J&K Bank today launched 9 new products here at the bank’s Corporate Headquarters.

Representing the major stakeholder of the bank on the occasion, Principal Secretary Finance J&K Government Navin Kumar Chaudhary, who is also Promoter-director on the bank’s board, e-inaugurated the products and services in presence of Chairman and CEO Parvez Ahmed, General Manager RBI H K Soni, directors on board Mohammad Maqbool Rather, Mohammad Ashraf Mir, Daman Kumar Pandoh and Azhar-ul-Amin.

The celebratory event was attended by the bank’s Executive Presidents, Presidents, Vice-Presidents and all the other staff posted at CHQ.

Speaking on the occasion, Navin Kumar said, “Eighty years is not old age for an institution. You are a young bank with a glorious history. You are lucky to have the founders who could conceive, implement and establish such an institution to serve the people of this place, which was so remote, inaccessible, and culturally different.”

“I congratulate you on every remarkable thing related to your institution”, he added.

Commending the role of bank’s executive management and staff on the occasion, he said, “In the board, we make policies, fix targets and discuss strategies but on the ground, it is because of your efforts and efficiency everything gets realized.”

Stressed upon the bankers to ensure that they offer best, fast and hassle-free services to the customer, he said, “So many years of administrative experience has taught me that delaying the decision does not turn it to be great. Therefore, prompt decisions must be taken to decide the cases whether that be related to borrowers or other things.”

Urging the employees to put in their best efforts, he asserted that J&K Bank is the best employer in the state.

“The way it looks after your needs, you need to be more dedicated. Besides, you are part of this society and whatever services you offer is for the benefit of your own society”, he said.

Cautioning the bank not to cede any ground to other competitors in the state despite so many advantages, he said, “With the kind of your strengths and resilience, you must remain No. 1 by miles and not by inches.”

J&K Bank employees celebrating foundation day function on Monday October 01,2018.

Instructing the staff to act with a conscience he said that growth of an organisation is best ensured when its human resource goes beyond routine in making their contributions.

He also advised the staff to work towards a greater goal of figuring in the top 10 banks of the country in all the parameters within the next 20 years as the bank reaches its 100th year of existence.

Pointing to the challenges faced by the bank, the Promoter-director said that it was for everybody from Chairman to board to executive management to the last man in the bank to pull together and reach the glorious destination at 100.

Present on the occasion, GM (RBI) H K Soni appreciated the remarkable job the bank has done in profitability and financial inclusion, which he said were the two faces of the same coin. He also acknowledged the unique emotional connect of employees towards the bank calling it an asset for the bank’s leadership.

While congratulating the bank on its 80th foundation day, he expressed hope that bank maintains the upward momentum of growth.

However, he stressed upon the leadership to document the history by the recollecting the journey of the organisation which is second youngest among the old private sector banks in the country.

Earlier, Chairman and CEO Parvez Ahmed welcomed the dignitaries.

Speaking on the occasion, he said, “Times like these offer an opportunity to revisit our underlying objectives behind the establishment of this Bank where we find our guiding principle and Bank’s vision and thank all stakeholders in this journey.”

Chairman acknowledged and thanked the promoters i.e. the State Government for their constant patronage and support in making the Bank one of the best examples of a semi-state institution which has achieved new milestones from time to time.

He also expressed his sincere thanks to the Chief Secretary, BVR Subrahmanyamji for his experience-rich guidance.

“During various interactions I have had with him, he is always very keen about the role of J&K Bank in the economic development in the state.”

His vision for the Bank, Chairman said, is an inspiration towards building a premier Financial Institution recognized across the globe.

We owe a lot to the founders of this institution especially Maharaja Hari Singh whom, he said, was a great visionary.

“I also take this opportunity to express my sincere thanks to the Promoter-Director Principal Secretary, Finance Navin Choudhary for consistently spearheading Bank towards a path of transformation through his valuable suggestions and consistent support to us.

Calling him a dynamic administrator and policymaker, Chairman said, he has played an instrumental role in making the Finance Department technology friendly bringing in the best practices in revamping the department and the same encouragement he showed to us as we adopted a transformation journey to incorporate the best industry practices.

“His valuable guidance, especially in terms of aligning the services of the bank with customer expectations in the current times, has been the guiding principle in shaping our policies”, Chairman said.

“And we will try our best to meet the expectations of our promoters”, he added.

Chairman also reiterated that the Bank shall always be part of every government initiative aimed at the socio-economic development of people of Jammu and Kashmir.

“This is an opportunity to place on record the guidance and handholding of our regulators especially the Reserve Bank of India who has always mentored our Bank. RBI is a beacon in the Global Financial Market which has been successful in creating and maintaining a robust Banking system in the country. The Financial Inclusion Initiative of the RBI has been unique in the upliftment of the economically weaker sections especially in our state”, he said.

Parvez Ahmed also acknowledged and appreciated the role played by the directors on the bank’s board in refining his role as the bank’s Chairman.

He admitted their contributions in carving out the growth trajectories of the bank through their timely advice from time to time.

“Our customer service needs to improve for it is essential for us to provide best products and services to our customers that match the best available in the country and align our systems and procedures in line with the expectations of regulators”, he said.

Expressing strong optimism in the face of difficulties, he asserted, “We also have other challenges like managing our NPAs, but the kind of dedication our staff has and with the support of our promoters and goodwill of our customers, we have a great future going forward.”

“Once again on this Foundation Day, I extend my heartfelt wishes to all members of J&K Bank Family including past CEOs of the Bank, retired Bank employees and most of all to our esteemed customers who have constantly shown us their trust and faith in giving us the opportunity to serve towards financial empowerment thereby leading the transformation in the J&K economy”, Chairman said.

The function concluded with the vote of thanks presented by Executive President P K Tickoo, who thanked all the dignitaries and participants present on the occasion.

Cake cutting ceremony was also held towards the end of the function.

Meanwhile, the products launched include Special Bachat Deposit Scheme, Sahafat Finance Scheme, Flexi Recurring Deposit Scheme, Health Fitness Equipment Finance, Pink Silver Saving Scheme for women, and Start Again-Finance Scheme for Start-ups for Retired Employees. Platinum Credit Card, World Credit Card and Multi-Currency Travel Card and J&K Bank Bhim Aadhar Pay Mobile App were also unveiled on the occasion.