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J&K Bank to increase credit level

J&K Bank will continue to stake steps to further improve and increase credit levels to over Rs 25,000 crore from the current Rs 18,000 crore. The bank’s chairman and CEO Mushtaq Ahmad said in next two to three years, the bank’s credit book will increase beyond Rs 25,000. Delivering the inaugural lecture at valedictory function of Platinum Jubilee celebrations of the bank, he said: “Everybody knows during the last three to four years there has been a slowdown in the Indian economy. There was very small credit growth in rest of the country – it has been around 15 per cent. But we have been growing in the Jammu and Kashmir by 25% as per our credit book – that means a great satisfaction to us.”

He added: “When we see towards the contribution to the state – out of a total credit of Rs 27,000 crore – J&K Bank alone has contributed Rs 18,000 crore, which is about 67% of the total.”

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