KNZ NEWS DESK
DGP, Chairman, JK Bank hail the Memorandum
SRINAGAR, AUGUST 24: The Jammu and Kashmir Police and Jammu and Kashmir Bank today signed a Memorandum of Understanding (MoU) wherein the bank will provide preferential banking services and benefits to the J&K Police personnel.
The Memorandum of Understanding (MoU) was signed by the Director General of Police Dr. S.P. Vaid and Mr. Parvez Ahmed Chairman J&K Bank here today in presence of top officers and Executives of Police and Bank. By virtue of this MoU the J&K Bank will provide customized Saving Bank Account variants for Police Personnel from Constable to General level rank, Platinum card for IGP and higher ranks, Diamond card for Dy.SP upto SSP, Gold card for ASI upto Inspector and Silver card for all other Police Personnel. J&K
Bank will also provide zero balance account, free international debit card with different transaction limits, “Add-on-Card” to the spouse or nominee, free multicity cheque book and smart saver account facility. It will waive off processing fee on personal, auto, home and education loans and provide free online NEFT/RTGS fund transfer to any bank across India. Demat and online trading account, free digital banking services will be provided. Health insurance at reasonable premium will be initiated. It will also provide preferential pricing on loan products and there will be no need of letter of confirmation. Security precautions regarding integration of data-base of employees is to be utilized. The gross deduction for computation of loan amount shall be relaxed. The bank will also give preference to retired J&K Police personnel for employment in J&K Bank as Security Guards. JK Bank gave most favoured client status to J&K Police and in J&K Police gave most favoured banker status to J&K Bank.
Speaking on this occasion the DGP Dr. S.P. Vaid said that both J&K Bank and J&K Police worked under the challenging circumstances to provide peace and harmony. It was in this backdrop that he requested the Chairman J&K Bank to provide facilities which are enumerated in the MoU for the Policemen serving in difficult situations and in far-flung areas. The DGP thanked the Chairman for responding to the request and hoped that this will go as a great welfare measure for thousands of the Policemen and their families, he added.
In his address Chairman J&K Bank Mr. Parvez Ahmed said that during the last 30 years J&K Police has given supreme sacrifices for peace and harmony of the State and as a mark of respect to these scarifies rendered by J&K Police this MoU has been signed so that preferential banking services and benefits are provided to the police personnel and their families.
From J&K Bank Mr. Vagish Chander EP(V), Mr. S.S. Sehgal EP(V), Mr. Rakesh Gandotra V.P (S&BD) were present while Special DG (Police Headquarters) Sh. V.K Singh, IGP Headquarters Sh. Surinder Gupta, AIsGP PHQ Sheikh Junaid Mehmood, Sh. Mubassir Latifi, Sh. Abdul Waheed Shah and Shri Musadiq Basu Dy.SP (IMS) were from the Police side.
It was decided in the meeting that the directions will be passed by both J&K Bank and the J&K Police to the units down under to explain and implement the MoU. Financial literacy camps will be held by the J&K Bank officers/branches and the benefits of the MoU will be announced to the police personnel in the regular roll calls and in special meetings.
