J&K Bank signs multiple MoUs with SMVD Shrine Board

Jammu

Jammu and Kashmir Bank on Friday signed multiple Memoranda of Understanding (MoU) with Mata Vaishno Devi Shrine Board at Spiritual Growth Centre Katra to reinforce its social connections and strong bonding with the socio-religious institutions.

J&K Bank signs multiple MoUs with SMVD Shrine Board

The spokesman in a statement said that the MoUs were signed by  Simrandeep Singh (IAS) CEO Mata Vaishno Devi Shrine Board (SMVDSB) Katra and President J&K Bank Rakesh Gandotra in presence of Chairman and CEO, J&K Bank Parvez Ahmed. Also present at the function were J & K Bank Executive Presidents P.K. Tickoo and R.K. Chibber, H K Parashar Chief Accounts Officer SMVDB, senior officials of JK Bank & Shrine Board and a large number of employees of the Shrine Board.

“The CEO Shrine Board Simrandeep Singh and Chairman JK Bank Parvez Ahmed also electronically inaugurated the Cash Management Counter of J&K Bank wherein the JK Bank formally took over the management of cash received at the Shrine in the form of donations at the Bhawan from the Shrine Board,” said the spokesman.

CEO Shrine Board Simrandeep Singh while commending the alacrity exhibited by the Chairman and CEO JK Bank in acceding to the request of the Shrine Board for taking over the cash management at Bhawan extended gratitude to the J&K Bank for extending a multitude of facilities to the employees of the Shrine Board at concessional and hassle-free manner under the preferred customer MOU.

Describing the relationship between Shrine Board and J&K Bank that of strong umbilical cord relationship he appreciated the association of the bank with SMVD shrine that started with the opening of first ever bank branch at the Bhawan way back in 1986 and getting stronger with every passing day. He termed the agreement signed between J&K bank and Shri Mata Vaishno Devi Shrine Board as a historic step towards the financial well-being of SMVDSB employees and their families. He also thanked the bank for extending the ‘Preferred Customer’ status to the Mata Vaishno Devi Shrine Board.

“J&K Bank carries a sense of belongingness with the people of J & K, which is continuously being strengthened by the bank with professional delivery of services everywhere in the state. The Bank is promoting innovation and new technology-driven products and services besides playing a pivotal role in economic development of the State and has contributed significantly towards the social causes as well as a responsible corporate citizen” added the CEO Shrine Board.

Speaking on the occasion Chairman and CEO, J&K Bank Parvez Ahmed paid glowing tributes to the founder of the Shrine Board and said, “I sincerely admire the vision of the founders of the Shrine Board who dreamt of an institution where none existed and believe me if we go into the history of the Shrine Board, it is a big management lesson for all of us. The same powerful & famous shrine, the same serenity in the environment, same people managing the affairs of the shrine but the founders of the Board envisioned a “disruption” the iconic word which we nowadays associate with any new revolutionary idea. The kind of infrastructure and contribution that one idea has made in the Ecosystem of this place is huge by any standards and we need to complement the vision and dream of the founders of the Shrine Board.”

“This model is a fit case for replicating in all the shrines of the state to leverage the pilgrim tourism in development of social infrastructure of the state and will, in the long run, enable the up gradation in economic lives of the people of the state,” added Parvez Ahmed.

Describing the relationship of the bank with Shrine Board beyond commercial considerations he said, “I consider this as an honor to take up our share of responsibility in working hand in hand with the Shrine Board. The bank has always been keen to serve enthusiastically the state’s divine heritage. And I feel absolutely humbled to establish this cash management counter and contribute to the management of huge amount of cash received at the Holy Shrine in the form of donations at the Bhawan and take over the same from the Shrine Board and ensure smooth functioning of the same. We assure the Board to ease out the process and may innovate in future by automating with the installation of Customized Cash Deposit Machines.”

On the request of the CEO Shrine Board, the Chairman JK Bank issued instructions to his team to undertake digital and financial literacy campaign for all the employees of the shrine Board besides designing a customized loan product for purchase of Smartphone by the employees of the Shrine Board to enable them to avail the hassle-free Phone Pe Loan facility of the Bank.

Under the MoU, the Bank has conferred the “Preferred Customer” status to the Shrine Board for its exclusive dealings with respect to all banking related services, by the virtue of this MoU, “Phone Pe Loan” facility will be extended to the employees of the Board at concessional rate of interest without any documentation and processing charges with quick turnaround time. It also entitled the employees to avail a multitude of benefits and privileges tailored exclusively for them.

The MoU also provides for the Internet Payment Gateway (IPG) facility to SMVDSB to facilitate the donations, Yatra registration fee and various other services offered by the board through digital channels.

Earlier deputy CEO Dr Arvind Karwani welcomed the dignitaries and employees in the function. Anand Pal Singh Zonal Head JK Bank presented the vote of thanks for the function the proceedings of which were conducted by Rajeshwar Singh.

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