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JK Bank categorizes State Govt employees as preferential clients

Benefits to include low-interest loan, free debit card, free locker, zero balance account

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SRINAGAR, SEP 12: The Government today signed an MoU with J&K Bank facilitating categorization of the state government employees as preferential clientsof 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 employee 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.
The Principal Secretary Finance appreciated the Bank for its outstanding performance and being the first and only listed large company in the State. He said the Bank is far ahead of other financial institutions when it comes to Credit Deposit Ratio which stands at 74% as against below 50% ratio of other banks operating in the State.
On the occasion, Navin Choudhary called on the Bank to further upgrade its facilities in line with world class banking. He asked them to resolve the issue of non-working of JK Bank card on various online platforms so that people derive all facilities from the bank cards.
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. “The employees don’t even need to visit any branch of the bank and all loan processing charges will be waived off,” said Parvez. “There will be no fee for opening of bank account and added facilities include maintaining zero balance account, free debit card, free online banking, concession on transaction fee, enhanced ATM usage etc.He said the employees will also get discounted locker facility ranging from zero fee to fifty percent discount.
The Chairman said that 35 percent of bank’s State portfolio which amounts to around Rs 6000 crore comes from the government employees and the MoU is aimed to derive mutual benefits and increase the portfolio size. He said the bank has already put a similar mechanism in pace JK Police and has successfully increased the client base from 25000 to 45000 among the police department only.
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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Upcoming snow spell: Avalanche warning issued for Kashmir, Ladakh districts

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Srinagar, Jan 19: Kashmir areas experienced fresh snowfall on Saturday, with the weather office forecasting more in store for the next three days.
“A western disturbance (WD) is presently active over the state under whose influence moderate to heavy snowfall is likely to occur in the valley till January 23 after which the intensity of the WD will start decreasing,” a Met Department official said here.
District administrations have set up helplines to help prevent any untoward incident due to the heavy snowfall.
Meanwhile Divisional Commissioner Kashmir, Baseer Ahmad Khan Saturday issued fresh avalanche warning for nine avalanche prone districts of Kashmir division.
The warning has been issued for the avalanche-prone areas of district Anantnag, Kulgam, Budgam, Baramulla, Kupwara, Bandipora, Ganderbal, Kargil and Leh.
As per the hand out, the Divisional Commissioner Kashmir has directed the Deputy Commissioners of all these districts to advise the people living in avalanche prone areas not to venture out to avoid the loss of lives.
The Div Com also directed the concerned DC’s to take all the precautionary measures and to keep the SDRF, Police and Para-medical staff with ambulances in readiness to avert any untoward incident.
While the nightlong cloud cover increased minimum temperatures throughout the valley on Saturday, the maximum temperatures are expected to drop further, the weather official said.
Srinagar recorded minus 2.0 degrees Celsius, Pahalgam minus 4.4 and Gulmarg minus 7.0 as the minimum temperatures.
Leh town had minus 9.2 degrees Celsius and Kargil minus 18.9 as the night’s lowest temperature.
Jammu city recorded 8.3 degrees Celsius, Katra 9.1, Batote 3.9, Bannihal 2.3 and Bhaderwah 1.3 as the minimum temperatures.

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UN clearly did its job: Guterres on Kashmir human rights report

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United Nations: United Nations Secretary General Antonio Guterres on Friday hoped that India and Pakistan will engage in a “meaningful dialogue” to resolve their issues.
The UN chief also said he has been offering his “good offices in relation to the dialogue between the two countries that, until now, had no conditions of success.”
Guterres was speaking to reporters at the UN headquarters in New York.
“I hope that the importance of both India and Pakistan is such in international affairs, I hope that the two countries will be able to engage in a meaningful dialogue,” he said.
The UN chief was responding to a question on his repeated urging of dialogue between the two South Asian neighbours.
In relation to the human rights situation, the Office of the High Commissioner for Human Rights has produced recently a very detailed report. So, the UN has clearly done its job in that regard, Guterres said to a question by a Pakistan journalist on the situation in Kashmir.

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Day after grenade attack, forces conduct search op in Lal Chowk

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Srinagar: A joint search operation was launched by the forces and police in the commercial Hub Lal Chowk area of Srinagar on Saturday.
The search came a day after the grenade attack took place in the locality, which left a vehicle and windowpanes of some shops damaged.
Witnesses said that a large contingent of police and paramilitary troopers were deployed near the Clock Tower here while the frisking was also intensified.
They said that drones too were used during the operation.
However, a top police official said that it was a routine exercise ahead of upcoming Republic Day.

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