J&K Bank’s “Clean J&K Initiative”

BANKING/FINANCE

Twin cities of Jammu and Srinagar to get Super Sucker Machines

by Shrutee K/DNS

Srinagar, March 16, 2016: In a significant development J&K Bank has decided to donate four Super Sucker Machines, two each for twin capital cities of Jammu and Srinagar. The state-of-the-art machines will be handed over to the respective Municipal Corporations to set the tone for technology driven high-end sewer cleaning mechanism in the two main cities of the state of Jammu and Kashmir. The decision stems from the Bank’s robust focus on Corporate Social Responsibility that among other things lays special emphasis on environment and hygiene.

The initiative has been influenced by the Prime Minister’s Swatch Bharat Abhiyan that calls for clean India. The announcement to this effect was made by Mushtaq Ahmad, Chairman & CEO J&K Bank following its approval by the Bank’s Board of Directors in a meeting held today.

“We are committed to empowerment of people in all spheres of life. We believe better health & hygiene and clean and green environment are key to development of society on the whole”, Mushtaq Ahmad said. “Making profits is what we espouse as a commercial organization but sharing them with people is something that we see as an obligation and commitment to the people as a developmental and socially conscious corporate institution”, he added.

Pertinently, the machines will be procured at a cost of around Rs.0.75 Cr each.

The machines will be used to de-silt small as well as large diameter sewers, clear them off blockages through high pressure suction mechanism in dry as well as deep sewers/ drains.  Besides, they can clean sewer lines, storm drains, cess pits, septic tanks, where normally manual cleaning is impossible due to inhuman conditions and poisonous gases.

About J&K Bank:

J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country. It is also the only private sector bank designated as RBI’s agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT.

The Bank incorporated in 1938, and is listed on the NSE and the BSE. It has a track record of uninterrupted profits and dividends for four decades. The J&K Bank is rated P1+, indicating the highest degree of safety by Standard & Poor and CRISIL. It has its registered office and corporate headquarters in Srinagar, Jammu & Kashmir.

J&K Bank follows a two-legged business model whereby it seeks to increase lending in its home state which results in higher margins despite modest volumes, and at the same time, seeks to capture niche lending opportunities on a pan-India basis to build volumes and improve margins.

J&K Bank operates on the principle of 'socially empowering banking' and seeks to deliver innovative financial solutions for household, small and medium enterprises.