J&K Bank inks MoU with JMC; nominated as preferred Banker

Jammu April 15: In yet another tie-up to synergize relationship between Jammu and Kashmir Bank and different Government departments, the Bank today entered into an agreement with Jammu Municipal Corporation (JMC) at Jammu, according to which the latter has nominated the Bank as a preferred Banker.

Commissioner JMC Avny Lavasa (IAS) signed the Memorandum of Understanding (MoU) on behalf of JMC whereas Zonal Head Jammu Central I Shareesh Sharma put in his signatures representing the Bank in presence of Joint Commissioner JMC Sudhir Bali, CAO JMC Dheeraj Jandyal, Business Unit Head Town Hall Jammu Sudershan Kumar and Head Digital Initiatives J&K Bank Atul Sethi.

The MoU mandates the Bank to give JMC employees most favored client status as the JMC confers J&K Bank with exclusive rights regarding all banking related services required by the corporation and its regular employees/staff.

Besides various special facilities vis-à-vis digital products, offering customized saving & deposit accounts and conducting Financial Literacy camps for the employees of the corporation, J&K Bank will ensure hassle-free disbursal of loan facilities. JMC will also provide its complete employee database to the bank for smooth and effective implementation of the agreement.

Commissioner JMC hailed J&K Bank for its customer friendly initiatives that lead to financial empowerment of society and expressed her happiness over the MoU entered with the Bank. She pressed for installation of more POS machines at JMC offices in addition to already POS terminals provided by J&K Bank, which according to her, will help a great deal in digitization of financial transactions.

Zonal Head Shareesh Sharma while terming the tie-up between the two parties a symbiotic one said that for the socio-economic development of different sections of society J&K Bank envisages a very strong relationship with the Government, its various departments and corporations through tie-ups like these. These mutually beneficial arrangements can play a major role in effective delivery of wide range of products and services to our clients, he added.

He further stated that having an understanding with JMC that has a huge employee base will further deepen the bond between the two organisations and help the Bank to offer employees of JMC multiple offerings at concessional rates eventually benefiting them.