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news details
JK Bank categorizes State Govt employees as preferential clients
9/12/2018 9:59:43 PM
Early Times Report
SRINAGAR, Sept 12: The Government today signed an MoU with J&K Bank facilitating categorization of the state government employees as preferential clients of the Bank entitled to slew of benefits under various banking facilities.
The MoU was signed by Principal Secretary Finance, Navin Kumar Choudhary on behalf of J&K Government and Chairman& CEO J&K Bank Parvez Ahmad.
Speaking on the occasion, Navin termed the MoU as a significant arrangement which will further strengthen the relationship between the State and the Bank. He said J&K Bank isa unique financial institution it is the only bank in the country where the state government is a shareholder. "Not only the state government but all the government employees are the shareholders of the Bank," he said.
Navin said the government will provide updated and verified data from its Centralized Personalized Information System (CPIS) about all the employees to the Bank, which will help the later to provide various facilities to the employees at ease and without need of further verification.
Giving details of the MoU, Chairman J&K Bank said around 4.5 lakh State Government employees comprise Bank's largest client base and the latest arrangement will further strengthen the bonds between the two institutions.
Giving details, he said the Secretariat employees will receive discount of 75 percentage basis point and other state government employees will get discount of 50 percentage point while availing loans from the bank. Furthermore, after applying for loan facility via Bank's App or on phone, the loan will be credited to beneficiary account in as little as two hours' time.
Chairman said JK Bank is committed to the socio-economic development of the State and it believes in carrying its people ahead in the march of progress. "When the people progress and State develops, the Bank will automatically achieve newer heights," said the Chairman.
The meeting was attended by a number of officials, representatives of various departments and banks.
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