J-K LG Manoj Sinha attends Swarozgar Utsav and Ghar Ghar KCC Abhiyan

J-K LG Manoj Sinha highlighted the newly attained effective functioning of the Jammu and Kashmir Bank and elaborated on its improved financial condition stating profit and loss statistics.

"In 2019-20, Jammu and Kashmir Bank was functioning at a loss of Rs 1200 crores. And today after four years, the bank is at a profit of Rs 1200 crores. And by the next year, its profit is estimated to be Rs 1500 crores."

J-K LG Manoj Sinha took a dig at the opposition over corruption and alleged that they have exploited the J&K bank to get their own houses constructed in foreign countries.

"As I was saying, this is how they used the state banks. Their foreign property has not been accumulated out of their own money."

J-K LG Manoj Sinha highlighted the decreased Non-Performing Assets (NPA) of Jammu and Kashmir Bank.

"In 2019, NPAs stood at 11.4% and by the end of 2023, the NPA of J&K Bank stands at 4.85%, better than any bank in the country."

J-K LG Manoj Sinha also elaborated on the increase in J&K Bank share cost.

"J&K Bank's share cost was Rs 20 in 2019, and today one share costs about Rs 130."

J-K LG Manoj Sinha appealed to the youth to make sure that the J&K Bank runs effectively.

"I would like to tell the youth present here, that the bank that has finally started making profits, will again run out of money once they come back in power. This bank is no one's personal property. It belongs to the common people of J&K. The youth must make sure that the bank works effectively for the welfare of the people of J&K" the LG said. (ANI)