STATE TIMES NEWS
SRINAGAR: Continuing with this endeavour of forging relationship with institutions, J&K Bank on Friday entered into a Memorandum of Understanding (MoU) with Ellaquai Dehati Bank (EDB) for providing cash management services to the latter in the UT of Jammu and Kashmir.
As per the agreement, cash deposit facility has been extended to EDB at 110 designated branches and 3 other touch points of J&K Bank across the UT and EDB in turn has designated J&K Bank as ‘the Preferred Banker’ for its dealings with respect to all banking related services.
The MoU was signed during a function held at corporate headquarters by Deputy General Manager (Strategy & IT) Mohammad Muzaffar Wani on behalf of J&K Bank and General Manager (General Banking & IT) Abdul Rashid Bhat representing EDB in presence of J&K Bank’s General Managers Ashutosh Sareen and Imtiyaz Ahmad Bhat besides other senior officials of both the banks.
General Manager EDB Abdul Rashid Bhat hailed J&K Bank for its continued support saying, “J&K Bank has always been forthcoming in supporting other institutions operating in this geography which ultimately benefits the people of J&K. We believe our association with J&K Bank will gain further strength over time.”
Earlier, expressing his pleasure over the agreement, General Manager J&K Bank Ashutosh Sareen said, “J&K Bank, being a major player in the economy of UT, is usually called upon to provide supportive services to other organisations including financial institutions and EDB has always endeavored to collaborate with the Bank to improve its service delivery to the local populace. This MoU will go a long way in helping people of J&K particularly in rural areas where EDB also has a decent presence.”
On the occasion, General Manager Imtiyaz Ahmad Bhat also hoped that the association will be fruitful for both the institutions. He further said, “EDB nominating J&K Bank as ‘Preferred Banker’ reaffirms the strategic importance J&K Bank commands in the UT. The Bank will continue to collaborate with the important institutions by way of entering into such tie-ups to eventually facilitate and benefit the people of UT.”
