STATE TIMES NEWS NEW DELHI: Housing and Urban Development Corporation (HUDCO), a Government of India enterprise, felicitated the Chairman and CEO J&K Bank, Parvez Ahmed, in recognition of the outstanding contribution of the Bank through innovative initiatives in the housing sector under the Pradhan Mantri Awas Yojana (Urban)-CLSS. The award was presented by Gopalaswami Parthasarathy, a former Diplomat, President IHC and Chancellor, Central University of Jammu in presence of Chairman and Managing Director HUDCO during a function held in Delhi here on Thursday on eve of 49th foundation Day of HUDCO. Heads of a number of financial institutions, Directors on the Board of HUDCO, J&K Bank’s President Ashraf Ali, Zonal Head Delhi Fayaz Sidiqui, prominent citizens, officials of J&K Bank and senior management team of HUDCO were also present on the occasion. The bank achieved the recognition for its contribution under the Private Sector Bank category for the Financial Year 2018-19. The Chairman and Managing Director HUDCO expressed deep appreciation for Bank’s role in promoting the Housing sector in the state of Jammu and Kashmir. The Chairman and CEO J&K Bank dedicated the recognition received by the Bank to guidance and support of Bank’s Board & Government besides the hardworking and committed members of the J&K Bank family, who are working relentlessly for financial empowerment of the people of J&K state. The Bank’s mission, he asserted, is to improve the economic profile of the people of the state, for which the bank is proactively working with multiple stakeholders. An important indicator of the improved economic profile, a house is always seen as an asset having lot of emotional value for people to reflect their economic status in our state and we are strategically focusing on the segment. Today’s recognition will motivate us to invest ourselves more vigorously to not only achieve the targets under the Pradhan Mantri Awas Yojana with the objective of ‘Housing for All’ but also to work in a missionary mode to realize the dream of our people for owning a house. He further delineated that as per the Bank’s business projections for FY 2022, in consultation with a renowned consultant, 0.4 million new houses are to be built in the state in next few years and J&K Bank will be playing a major role in the financing. The Bank, he added, is well on course with adequate resource base and outreach in the State to capitalize on these opportunities. ‘Simultaneously’ elaborated the Chairman, “We are working on simplifying the processes to make the customer experience, while availing a housing loan hassle-free, as the customers are usually opting for unsecured consumer loans due to perceptions of a cumbersome process of housing loans involving multiple clearances.” An effort, he said, is also being made to operationalize an incentive scheme for the housing loan customers, who are using the sustainable architecture and material as per the ecological profile of the region.
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