Chief Minister assures full support; urges focus on agri, handicrafts, handloom and tourism sectors
DH NEWS SERVICE
SRINAGAR, May 4
A deputation from Bank of Baroda, led by its Executive Director Beena Vaheed, called on Chief Minister Omar Abdullah to discuss plans for expanding the bank’s operations across Jammu and Kashmir. The meeting focused on enhancing the bank’s presence in the region and exploring ways to strengthen financial inclusion and support economic development. During the interaction, the delegation outlined its strategy to expand operations in various parts of Srinagar and other regions of the Union Territory. The plan includes increasing the number of branches and improving access to banking services, particularly in underserved and rural areas. The delegation emphasized that the expansion aims to provide better financial services to a wider section of the population while contributing to the region’s overall economic growth.
The representatives of the bank highlighted their commitment to strengthening outreach by introducing modern banking solutions, improving digital services, and ensuring that people in remote areas have easier access to financial facilities. They also discussed initiatives to promote financial literacy and encourage greater participation in formal banking systems.
Chief Minister Omar Abdullah welcomed the proposed expansion and appreciated the bank’s efforts to increase its footprint in Jammu and Kashmir. He assured the delegation that the government would extend full support in facilitating the bank’s plans and would provide all necessary assistance to ensure smooth implementation of the expansion strategy. He expressed confidence that the enhanced banking presence would play a significant role in boosting the local economy. He pointed out that the economy of Jammu and Kashmir is largely driven by agriculture and allied sectors, along with handicrafts, handloom, and tourism. Strengthening banking infrastructure in these areas, he noted, would help improve access to credit and financial services, thereby supporting livelihoods and encouraging entrepreneurship.
The Chief Minister also emphasized the importance of generating employment opportunities for local youth and said that the bank’s expansion could contribute positively in this regard. He advised the bank to design and promote financial products tailored to the specific needs of key sectors, enabling farmers, artisans, and small entrepreneurs to benefit from easier access to credit.
The meeting concluded with a shared commitment to work collaboratively towards strengthening the financial ecosystem in Jammu and Kashmir and ensuring inclusive economic growth across the region.
