Excelsior Correspondent

SRINAGAR, Mar 9: DrHaseeb Drabu, Minister forFinance, Labour and Employmenttoday launched J&K Bank'sFamily Protection SavingsAccount, here at SKICC, in thepresence of JKB Chairman ParvezAhmed and others.

CEO Designate PnbMetlifeAshish K Srivastava. DirectorBancassurance PnbMetlife SameerBhansal, J&K Bank ExecutivePresidents, Senior Presidents,Presidents, Vice Presidents andother officers besides executivesfrom PnbMetlife were also present

on the occasion. Drabu also unveiled the

Debit Card specially customizedfor the product, which has beendesigned in collaboration withPnbMetlife. Comprehensivelycovering the risk of living tooshort, the product protects thefinancial cover of the family ofthe customer in case of demiseagainst small premium and pro-vides assured monthly income tosustain the families for a certainperiod of time.

"J&K Bank needs to moveahead of financial inclusion,which it has been doing com-mendably well, and create a com-prehensive framework for deep-ening of financial services withinthe state. And the bank's FamilyProtection Savings Account canbe a good beginning in this regardas it's quite a good liability sideproduct," Drabu said at thelaunching ceremony.

Pointing out that most of thestock of our savings is physical,mostly either in the form of landor in gold, the Finance Minister

and renowned economist said thatif we can convert 10 percent ofthis stock into savings that will bea huge thing for State economywhereby J&K Bank can gatherthese deposits and put them tosome productive use.

Correcting the perceptionabout low CD Ratio of banks inthe State, he said that it was moreabout the avenues to lend in theState than the reluctance to lendby the banks.

Urging the management ofbank to think and devise innova-tive ways to leverage the bank'stremendous emotional equity andimmense presence across the

State to its maximum, he said, "Ifeel very comforted by theChairman J&K Bank's keen senseof responsibility towards theemotional equity and trust peopleof State repose in the bank."

"It is the moral, ethical andprofessional duty of every mem-ber of the J&K Bank to respect itand create further value for all thestakeholders. And I believe thatunder the leadership of ParvezAhmed you shall be successful indoing that", he added.

On the occasion, Dr Drabualong with Parvez Ahmed andAshish K Srivastava presentedmementos to officers of J&KBank and PnbMetlife who wereinvolved in the productizationand customization process of theproduct.

Earlier, Chairman and CEO,Parvez Ahmed, in his speech,called the occasion eventful forthe partnership between J&K Bankand Metlife who had recently com-pleted 15 successful years oftogetherness.

Emphasizing to the people at

both sides of the partnership,Parvez said that as Chairman ofthe Bank, his only focus was toderive maximum benefits from thispartnership for the customers of hisBank who were unconditional inreposing their faith and trust on thisindigenous bank. While advisingthe Metlife top brass to ensuremaximum value addition to theinvestments of JKB customers,Parvez asked his Managers toensure due diligence, ethical sell-ing with consent and maximumawareness to the customers aboutthe benefits of the Metlife so as toensure sincere custodianship oftheir faith and loyalty

Ashish K Srivastava, CEO(Interim), PnbMetLife, called thelaunch of 'J&K Bank FamilyProtection Saving Bank Account'as the significant step towardsmaking the relationship betweenJ&K Bank and PnbMetlifestronger while serving the cus-tomers best.

He said, "our benchmark part-nership with JKB has given us astrong foundation to launch thisproposition, which would help inprotecting the financial future ofour customer's families by provid-ing a regular guaranteed income incase of the unfortunate demise ofthe account holder."

Speaking at the beginning ofthe function, DirectorBancassurance PnbMetlife SameerBhansal, said that 'J&K BankFamily Protection Saving BankAccount', was the first of its kind asthe liability side product. "Againsta small premium every year, thefamilies of insured would be pro-vided an assured monthly incometo survive and sustain the difficulttimes in case of customersdemise," he informed and addedthat the product if marketed andsold well holds huge prospect of Rs15000 crore business for the bank.

The function concluded withvote of thanks presented by thebank's Executive President AbdulRauf Bhat.

Many public representatives call on CMExcelsior Correspondent

JAMMU, Mar 9: Many public representatives today met theChief Minister, Mehbooba Mufti here today and brought manydevelopmental issues of their areas into her notice and sought theirredressal.

Those who met the Chief Minister included Member, Rajya Sabha,Nazir Ahmad Laway; MLAs, M. Y.Tarigami; Ishfaq Jabbar; Sat Sharmaand other legislators.

The Chief Minister assured them that the demands put up wouldbe got examined for appropriate action by the Government.

A delegation of Executive Councillors and Councillors of LadakhAutonomous Hill Development Council, Leh and Kargil also calledon the Chief Minister

The delegation apprised the Chief Minister about the activities ofthe Hill Councils in both the districts and put up certain demands viza viz the functioning of these Councils.

The Chief Minister assured the delegation that their demands andsuggestions would be appropriately examined for execution.

Minister for Cooperatives & Ladakh Affairs, C. Dorjey andCEO, LAHDC, Kargil, Kachoo Ahmad Ali were also present onthe occasion.

Excelsior Correspondent

JAMMU, Mar 9: Dr. Alexa-nderEvans, Deputy High Commissioner,British High Commission in India,called on Governor N. N. Vohra atthe Raj Bhavan here today.

Governor and Dr. Evans dis-cussed various matters relating topromotion of Indo-UK relations.

British Deputy HighCommissioner also called on theChief Minister, Mehbooba Mufti.

During the meeting, they dis-cussed emerging political and socioeconomic developments in the State.

The Chief Minister informed thevisiting envoy of her Government's

keenness to initiate political processalongwith aggressive developmentalgovernance in the State. She said it isher firm belief that good governanceand political dialogue together canget the State out of the difficulties it ispresently facing.

The Chief Minister said openingof more routes, particularly the tradi-tional ones, across the LoC wouldensure more people to people contactand economic activity on the twosides. She said the opening ofSrinagar-Muzaffarabad and Poon-ch-Rawalakote roads to traffic andtrade has enhanced the stakes of localpeople on the two sides in peace andgood relations and the tempo has to

be maintained with the opening ofmore such routes.

On the Indo-Pak relations,Mehbooba Mufti stressed on takingforward the vision of former PrimeMinister, Atal Bihari Vajpayee,adding the similarities and common-alities on the two sides need to befocused and considered rather thanthe differences. She hoped the pres-ent Government at the Centre would

carry forward this mission.The Deputy High Commis-sion-

er appreciated the vision of the ChiefMinister for the State. He evincedkeen interest in the steps being takenby the Government in sectors likehorticulture, infrastructure, handi-crafts and tourism.

The Chief Minister told Dr.Evans that many mega connectivityprojects besides Srinagar-Jammu raillink are under execution in the Statewhich would not only connect theregions to each other but also help inexploiting the untapped economicpotential of these areas as well.

DAILY EXCELSIOR, JAMMU FRIDAY, MARCH 10, 2017 (PAGE 3)

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* Watch video onwww.excelsiornews.com

British envoy interacting with Chief Minister at Jammu onThursday.

Challan produced against SI in bribery caseVigilance arrests Naib Tehsildarin disproportionate assets caseExcelsior Correspondent

JAMMU, Mar 9: The Vigila-nce Organization, Jammu hasarrested Sher Singh, then NaibTehsildar Katra, for accumulat-ing huge assets, disproportion-ate to his known sources ofincome.

He was arrested in case FIRNo.11/2014 P/S VOJ U/S 5(1)(e) r/w section 5 (2) J&K PC ActSvt 2006 registered in P/S VOJ.

Brief facts of the case arethat the accused Sher Singh, dur-ing his posting as NaibTehsildar, Katra, accumulatedhuge moveable and immoveableassets worth lakhs during theperiod of his postings asPatwari-Girdawar and NaibTehsildar. The assets includetwo houses, one at Reasi and theother at Katra, two shops atKatra, four storeys under con-struction building at Rehari andseveral kanals of land at differ-ent places. The accused has alsoinvested huge amounts in thebanks and has made donationsand other expenditures in crores.The assets acquired by theaccused Naib Tehsildar are dis-proportionate to his knownsources of income.

During investigation, theaccused failed to give properaccountability of the assetsmoveable and immoveable heldin his name and in the name ofhis family members. He was notrevealing the real facts from thesource of money from which hehas raised such huge assets. Inorder to ascertain the groundreality for raising such hugeassets by the accused, he hasbeen arrested for sustained ques-tioning by the investigatingagency, said a spokesman of the

Vigilance Organization, addingthat investigation of the casewas going on.

Meanwhile, Vigilance Orga-nization today producedchargesheet against SubInspector Krishan Lal Raina,then posted as I/C PP Lamberi,Nowshera, district Rajouri, whowas caught accepting bribe.

The chargesheet in case FIRNo. 28/2010 of 2010 at P/S VOJ,for probing into the allegationsof corruption charges regardingdemand and acceptance of bribeof Rs 20,000/ by SI Krishan LalRaina from complainant namelyMahesh Singh of Rajouri, wasproduced in the Anti-corruptionCourt Rajouri.

During the course of investi-gation, the allegations wereproved against the accused SIand sanction for his prosecutionwas also accorded by theGovernment on 08-03-2017.

Court grants 15 days judicial remand

of Kewal SharmaExcelsior Correspondent

JAMMU, Mar 9: SpecialJudge Anticorruption JammuSanjeev Gupta today granted 15days judicial remand of KewalSharma, the then PRO to formerDeputy Chief Minister, who hasbeen booked in disproportionateassets case.

After going through theremand application as well asthe CD file, the court observed,“the prayer of the IO seems tobe genuine in the light of allega-tions against the accused”.

Accordingly, accused wasremanded to judicial custodyfor a period of 15 days with thedirection that he shall be pro-duced in the competent courtafter the expiry of remand peri-od. “In case any medical assis-tance is required by the accusedthe same shall be provided tohim”, the court said.

British envoy calls on Governor, CMDialogue can get J&K out of morass: Mehbooba

Finance Minister Dr Haseeb Drabu launching J&K Bank’s‘Family Protection Savings’ scheme at Srinagar on Thursday.

Drabu launches J&K Bank’s ‘Family Protection Savings’ scheme