Thursday, Jun 09, 2005
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Shujaat Bukhari
SRINAGAR: Leaving behind a distinguished tenure of eight and half years, M. Y. Khan, on Wednesday relinquished office as Chairman of Jammu and Kashmir Bank. Noted economist Haseeb A. Drabu will replace him. Mr. Khan who took over as Chairman of the bank in December 1996, is leaving a huge base for his successor with Rs. 33,162 crore as the business turnover as on March 31, 2005. Similarly the deposits recorded a quantum jump from Rs. 2,895 crore to Rs. 21,645 crore, advances from Rs. 1,364 crore to Rs. 11,517 crore and profit from Rs. 1.39 crore to Rs. 406.33 crore.
Replying to felicitations at the 67th annual general meeting of the bank, Mr. Khan said "there was no interference from the political establishment as for as my work is concerned."
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