Saudi Arabia releases second bailout package for Pakistan
Islamabad: Cash-strapped Pakistan on Friday received USD 1 billion from its close ally Saudi Arabia as part of a second bailout package to boost the country’s dwindling dollar reserves, according to media reports. The latest package has shored up the central bank’s foreign reserves, hitting the USD 9.4 billion mark, said State Bank of Pakistan […]
Govt won’t supply sugar from next year
Srinagar: Food, Civil Supplies and Consumer Affairs Department, previously CAPD, is one of the historic departments of Jammu and Kashmir. Created in 1931 by Maharaja Hari Singh, the department was meant to ensure that the people of the state get ration and other amenities at the affordable price, and also to control food prices. This historical department […]
J&K Bank Editor placed Head Internal Communication & Knowledge Management Department
Stakeholders hail Chairman’s decision
Srinagar: J&K Bank has created a new department, Internal Communication & Knowledge Management Department. The Bank’s Editor, Sajjad Bazaz, has been placed Head of this department and orders to this effect were issued yesterday. Sajad Bazaz, who is also a well known columnist with more than three decades of experience at its back in the field […]
Pakistan’s plea for an IMF bailout may get delayed: Report
Islamabad: Cash-strapped Pakistan’s quest for a USD 8 billion IMF bailout package by January 15 may not realise as the global lender wants the government to adopt tougher measures to address the external sector imbalances before sending the country’s case to its Executive Board, a media report said Friday. Pakistan is seeking USD 8 billion […]
J&K Bank’s long term issuer rating reaffirmed at ‘AA’
Srinagar: India Ratings has reaffirmed J&K Bank’s Long term issuer rating at ‘IND AA’. Instruments with AA rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very-low credit risk. Notably, the agency has re-affirmed the rating in view of the Bank’s turnaround in terms of growth, […]
Trade between India, Pak can touch 37 billion dollars per year: Report
Islamabad: The trade between India and Pakistan can go up to USD 37 billion from the current USD 2 billion if the two neighbours tear down artificial barriers like trust deficit besides complicated and non-transparent non-tariff measures, according to a World Bank report. The report titled ‘Glass Half Full: Promise of Regional Trade in South […]
Centre had an eye on J&K Bank: Farooq
Srinagar: Farooq Abdullah on Wednesday said that the move to take over J&K Bank was in the pipeline for a long time. “The moves to take over the J&K Bank have been in pipeline for a long time. They haven’t succeeded till then but probably in the governor’s rule they thought they will succeed,” said […]
Protests against reducing JK Bank to PSU continues
Srinagar: Jammu Kashmir Bank employees on Friday continued to take streets against the government’s recent decision to turn the bank into Public Sector Undertaking (PSU). From past couple of days, civil society, traders, industrialists, bank employees and even political parties are carrying protest marches against the Governor Administration decision to convert Jammu Kashmir Bank into […]
Group Mediclaim Health Insurance Scheme
Govt issues notice to Insurer for foreclosure of Insurance Agreement
JAMMU: Responding to various media reports regarding Group Mediclaim Insurance Scheme, the Finance Department today clarified that the notice for foreclosure of the Insurance Agreement has been served to the insurer with effect from 31 December 2018. “Till the midnight of 31 December 2018, any employee or their family members enrolled in the scheme will […]
Treating J&K bank as PSU: Employees stage protests against SAC decision
Srinagar: Employees of the Jammu and Kashmir Bank staged a protest here Thursday demanding a rollback of the decision of Governor S P Malik-led state administrative council to treat the bank as a public sector undertaking. Scores of employees of the bank assembled at its corporate headquarters on M A Road and staged a demonstration, […]