EDB to reach out JK’s unbanked areas

EDB to reach out JK’s unbanked areas

SRINAGAR: To increase banking penetration and financial inclusion in unbanked areas, Ellaqaui Dehati Bank (EDB) is planning to open 25 new business units in rural areas of the state.
Besides this, 32 ATMs would be added by the bank itself along with eight ATMs in collaboration with its sponsor bank, State Bank of India, during the current financial year (2014-15).
This was disclosed by Chairman EDB, AK Razdan at a review meeting held at the EDB head office here.
Razdan said that their bank has an ambitious plan of opening 25 new business units in the rural areas of Jammu and Kashmir.
“These business units will be opened with all the modern banking facilities in Core Banking Solution (CBS) platform,” Razdan said, adding that the bank has formulated a short term plan for growth and the recruitment of staff in a massive drive is being contemplated according to the needs.
Razdan said that their structured efforts have bore results and EDB is emerging one of the leading banking services provider in the state.
He complemented the work carried out by the EDB during the last three years and said that “those who dream can achieve also” and stressed the need for carrying on the good work for better services to the people of the state.
He stressed that the bank should make full use of the technological developments to provide efficient services to its customers, especially to those living in the far flung areas.
The bank chairman said that the bank is extending credit facilities to the small and marginal farmers for raising crops under Kissan Credit Cards (KCC) scheme and a special drive to provide credit to farmers concluded recently.
He said another drive for KCC disbursement and SME disbursement is being organized May 30 and 31st at all the rural and semi urban business units of the bank.
Razdan added EDB is the only local bank to issue KCC ATM cards to the farmers who can draw the amount at any centre for the purchase of fertilizers, pesticide and other relevant material from the market.

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