Srinagar (Jammu and Kashmir): Prime Minister Narendra Modi, in a 28-minute address at Bakshi Stadium in Srinagar city, placed J&K Bank at the forefront of transformation. Branding it a victim of dynasty politics and corruption, the Prime Minister revealed how a bold series of reforms paved the way to restore the financial institution's health and credibility.
Expressing grave concerns about wrongful appointments that had marred the organization, PM Modi assured the public that the Anti-Corruption Bureau (ACB) was actively investigating thousands of such cases. This commitment to justice was coupled with a substantial financial boost, as the government had pledged a generous assistance of Rs 1000 crore to fortify the bank's foundations.
In a bid to usher in transparency and meritocracy, the Prime Minister highlighted the remarkable strides made in recruitment practices over the last five years. Transparent and merit-based hirings had become the norm, resulting in a remarkable turnaround in J&K Bank's financial standing.
Proudly sharing impressive statistics, PM Modi announced that profits had surged to an astounding Rs 1700 crores, a significant leap from the meagre Rs 1.25 crore of five years ago. "The business, too, had expanded exponentially, reaching Rs 2.25 lakh crores. Deposits soared from Rs 80,000 crores to an impressive Rs 1.25 lakh crores, marking a substantial increase in public trust."
Addressing the alarming issue of Non-Performing Assets (NPA), which had crossed 11 percent half a decade ago, the Prime Minister declared a triumphant reduction to below 5 percent. The share value of the bank had skyrocketed, witnessing a twelvefold rise from Rs 12 to about Rs 140 in just five years.
"When there is an honest government, the intention is for the welfare of the people, then the people can be brought out of every difficulty," PM Modi said, asserting the government's commitment to transparent governance free from the shackles of corruption.
Acknowledging Jammu & Kashmir's historical struggle with dynastic politics, PM Modi reassured the people that the development campaign for the region would not falter. With unwavering commitment, he pledged that the pace of development in Jammu & Kashmir would only intensify over the next five years. "The region, once a victim, is now poised for a future marked by progress, transparency, and prosperity."
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