Jammu, Mar 18: Reinforcing their long-standing partnership, J&K Bank today renewed its Memorandum of Understanding (MoU) with the Shri Mata Vaishno Devi Shrine Board (SMVDSB) to further strengthen institutional banking arrangements and extend enhanced financial services to the Board and its employees.
The MoU was formally signed by Cluster Head Amit Bargotra on behalf of the Bank while Additional CEO SMVDSB Alok Kumar Maurya put in his signatures representing the Shrine Board, in the presence of Bank’s General Manager & Divisional Head (Jammu) Ashok Gupta, FA/CAO SMVDSB Pawan Kumar Sharma, DGM SMVDSB Rajesh Sharma and Branch Managers Samresh Salgotra and Kapil Nanda.
The renewed agreement reaffirms J&K Bank’s position as a preferred banking partner of SMVDSB, with the Shrine Board continuing to maintain its banking relationship and deposits with the Bank. The partnership also facilitates closer engagement with the Board’s employee base for delivering seamless and customised financial solutions.
Speaking on the occasion, Additional CEO of the Shrine Board Alok Kumar Maurya termed J&K Bank as a reliable and responsive banking partner for SMVDSB over the years. He further said, “This renewed MoU not only underpins our mutual trust but also enhances the scope of benefits available to our employees through tailored financial solutions. We look forward to continuing this strong partnership for greater efficiency, convenience and value creation.”
In his remarks, GM & Divisional Head (Jammu) Ashok Gupta said, “Our enduring association with the Shri Mata Vaishno Devi Shrine Board is built on mutual trust and shared commitment to excellence. The renewal of this MoU reflects our resolve to further strengthen this relationship by delivering customised, technology-driven and customer-centric banking solutions to the Board and its employees.”
“We deeply value the confidence reposed in us and remain committed to supporting SMVDSB with best-in-class financial services”, he added.
Notably, under the MoU, the Bank will offer a comprehensive bouquet of tailored banking services to SMVDSB and its employees. These include specially designed salary account variants with zero balance facility, free international debit cards with enhanced transaction limits, and a full suite of digital banking services such as mobile, internet, and phone banking along with SMS alerts.
The agreement also provides for Group Personal Accidental Insurance (GPAI) cover and concessional loan facilities to employees, including preferential interest rates, higher eligibility limits, and simplified documentation norms. Employees will further benefit from overdraft facilities linked to salary accounts, as well as access to investment services including Demat and trading accounts.
Additionally, the Bank will extend market-competitive rates on deposits of the Shrine Board, while ensuring efficient service delivery through dedicated coordination and enhanced digital integration for improved turnaround time.
