Source: GK News Network
The Bank was awarded ‘Best Banker in Financial Inclusion and Customer Friendliness’ and declared runner up for ‘Best Banker in Priority Sector Growth and Agricultural Credit’.
The awards were received on behalf of the Chairman and CEO, Mushtaq Ahmad by the President and Zonal Head, Abdul Hamid Banday. The union minister for Commerce & Industry, Anand Sharma gave away the awards at an impressive function held in Delhi on August 20, 2012. C Rangarajan Chairman Prime Minister’s Economic Advisory Council was also present on the occasion.
The Sunday Standard, which is a part of the Chennai-based ‘The New Indian Express Group’, had engaged Indicus Analytics, India’s premier economic research agency, to conduct a stringent survey and find out India’s best bankers.
Notably, the CEOs of all 78 Scheduled Commercial Banks operating in India were considered for the rating. The survey has rated Chairman and CEO Mushtaq Ahmad as top ranked CEO for being ‘accomplished in all aspects of banking’. The survey has highlighted his skillful leadership qualities by mentioning the bank’s all round and consistent growth in its operations under his dynamic leadership. Since his taking over, the bank’s business turnover has increased by over Rs.24000 crore, going from Rs.62,000 crore in September 2010 to Rs.86,424 crore in March 2012. The bank posted an all time high profit of Rs.803 crore for the financial year ended March 31, 2012.
In succinct, the surveyors have hailed the J&K Bank’s contribution in facilitating the workings of the economy and at the same contributing to its growth and dynamic by nurturing entrepreneurs and innovation.
It is worth mentioning that the surveyors who stringently surveyed all 78 scheduled commercial banks operating in India used quantitative and qualitative indicators as well as published data to arrive at the results. They also did primary surveys to ensure that there were no oversights or information gaps.
The analysis was meant to capture the improvements that have occurred over the last year for which data is available for quantitative parameters, while the qualitative indicators were captured from a confidential primary survey of senior employees of the banks conducted in March and April 2012.