Jammu and Kashmir Bank’s performance during 2019-20 augurs well for the economic health of the Union Territory. One can see that the Union Territory’s all round economic activities including manufacturing, business, agriculture, animal husbandry, public health and utilities and industry oriented education are all going on the right track despite Covid-19.
The
Bank’s balance Sheet for the financial year 2019-20 showed an operating profit
of Rs. 1525.05 crore. The Bank has made big changes in its lending policy and
public service, according to its Chairman and Managing Director R.K. Chibber.
He told the Annual General Body meeting of its shareholders last month that how
the Bank has shifted its focus to retail and agriculture lending across the
country and corporate lending has been restricted to top rated corporate. The
shift has begun yielding favourite results”. This was a great achievement in
the face of Covid-19 which has caused world over unprecedented disruption in
the economic activities.
The
Bank has played a crucial role in reviving business life in the Union Territory
and restoring people’s faith in it. The Bank’s campaign to expand its Automated
Teller Machines (ATMs) services is proving a great boon to its customers. Mr.
Chibber, on another occasion, said it was Bank’s mission to extend basic
banking services to people irrespective of their location and status.
The
health of Jammu and Kashmir Bank being in the pink has its reflection on all
segments of life-economic and social. The success of the back to village
programme, agriculture education’s enthusiasm to push this sector beyond
traditional farming, spread of education, success of tourism industry, supply
of electricity and tap water to every home and the popularity of Panchayats all
owe, directly or indirectly to the good health of Jammu and Kashmir Bank.
The
back to village programme is proceeding according to the plan. Its first two
phases recorded success. Now it is in its third phase. Economic sustainability
of the village people has been the target of these three phases Jammu and
Kashmir Bank has shifted to lending Policy in favour of retailers and farmers.
It is expanding to ATM facilities to benefit farmers and also women.
To make
villages economically viable for villagers there is proposal to promote rural
tourism which would create an economic chain by helping villagers to display
their crafts and their tourism and cultural potential. In fact what are called
Kashmiri art and craft and culture are all rooted in its villages. It will
boost cottage industry. It is proposed that the year 2021 will be promoted a s
“Dekho Apna Desh” to boost domestic tourism.
One
known reason why people leave their hearth and home in their native villages is
the feeling they cannot get justice there. But now with a strong Panchayat
system backed by the people such a feeling may go. It is through Panchayats
that the Rural Developments Department looks into issues concerning wage
payment of various works under it.
Farmer’s
dependence on their cattle is crucial. In case they fall sick or die, the
farmer is ruined. To mitigate their tragedy, Deputy Commissioner of Baramulla
Dr. G. N. Ittoo launched the National Animal Disease Control Programme (NADCP)
which will provide free vaccination to cattle. He said various initiatives were
being taken to help cattle rearer. All this is to boost daily development. He
suggested that young people should choose dairy development as their careers.
There
is a good news for poor villagers. The Union Territory Government has launched
a unique scheme to make poor villagers owners of sheep or goats for free. Under
this scheme, says Principal Secretary of Animal and Sheep Husbandry Department
Navin K Choudhary, each beneficiary of this scheme will be given 25 sheep or 10
goats free with the condition that in the third year of this gift the receiver
will start going to the Department with five young ones of sheep or two of
goats till the fifth year. Thus it is a win-win case for the Department and the
receiver of sheep or goats. This scheme is part of just launched Integrated
Sheep Development Scheme 2020-21. It aims at bridging the gap between demand
and supply of mutton in the Union Territory.
Sher-e-Kashmir University of Agricultural Sciences and
Technology, Kashmir (SKUASTK) with its researched in-puts and innovative ideas
is a great boost to not only agriculture but fishery, too.
