JK bank, CU Jammu strengthen ties

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Bank keen to explore collaborations with all leading universities, academic institutions in J&K

Jammu: Jammu and Kashmir Bank has signed multiple Memoranda of Understanding (MoU) with Central University of Jammu here.
According to a statement, chairman and CEO JK bank Parvez Ahmed and Vice Chancellor Central University of Jammu Prof Ashok Aima laid the foundation stone for construction of bank’s own building for housing a business unit and digital lounge within the varsity.
Dr Ravi Kumar, Prof Devanand, Prof Brij Mohan, and administrative team of Central University and senior officers of JK bank were also present on the occasion.
As part of MoU, the statement said, bank conferred the most favoured client status to the employees of the university which will entitle the employees for availing multitude of benefits and privileges exclusive to them.
After signing the MOUs and while handing over the letter of allotment of land to the bank chairman, Prof Aima said: “This is an era of collaboration and synergies which are required to be harnessed for betterment of society. The leadership of the bank had taken the step for a strong industry academia partnership by launching the multi utility co branded campus card last year and by signing MOUs for preferred customer status which amongst other benefits makes the employees eligible for the coveted ‘Phone Pe Loan’ product of the bank, the relationship has been taken to the next level.”
He said setting up a business unit and digital lounge of the bank in the university paves way for cross pollination of ideas between the students and leading financial institution of the state. “Financial support to the Business Incubation centre of the university speaks volume about the commitment of the bank in fostering entrepreneurial culture in the state for the educated youth,” Prof Aima said.
Earlier, Registrar Dr Ravi Kumar appreciated the services of the bank in enabling the digital initiatives of the university by providing the Co Branded Multi Utility Campus card free of cost to all the students of the varsity which is now being integrated with the library services to automate the library.
He also appreciated the JK bank chairman for his solicitous partnerships with the academic institutions.
Speaking on the occasion, chairman JK bank Parvez Ahmed said: “We have taken a very positive step together towards establishment of a dedicated business unit within the premises of CUJ having state of the art banking facilities with amphitheatre, seminar room, Wi Fi Zone, cafe and book wall.”
He said the university administration has been very supportive towards this benefic move to the staff and students of the university. “I am very happy to enter into an MoU with CUJ as our most favoured client which brings with itself a wide range of benefits exclusive to the employees. There is much more on the offering for which we will extend support and counselling to the employees through Financial Literacy Camps at various centres of the varsity.”
Speaking about the ‘Phone Pe Loan’ service, Parvez said: “We have been revolutionizing the service delivery through our digital products and through ‘Phone pe Loan’, we are offering quick Loan facility to our client CUJ with least processing time and most importantly doing away with the in-person visit to business unit for any documentation. Any pressing financial requirement of the employees will be fulfilled at the click of a button.”
The chairman further said: “During multitude interactions with Prof Aima, we came to understand his vision to convert CUJ into an abode of innovation and entrepreneurial ventures. J&K Bank’s vision is strongly in alignment with this endeavour to foster entrepreneurship in our state. Our commitment to strengthen such initiatives is very strong and it is through this resolve that we are extending full support to University Business Incubation Centre for nurturing innovation in local resource endowments thereby helping income and employment generation in our state. I am happy to announce that we will provide financial support of rupees seven lakh annually to CUJ. We commend Prof Aima’s thought behind UBIC to strengthen the grassroots technological innovation for preserving the traditional knowledge of our state.”
Meanwhile, Parvez Ahmed inaugurated the Automated Library Unit of CUJ which is a joint collaboration of the university and JK Bank’s RFID enabled campus card integrated for library access.
Both the organisations have in the past come together for various CSR initiatives, the statement said.
“Earlier in the year, Bank dedicated an ambulance to the Central University of Jammu for the benefit of the students. Bank has also committed to sponsor Gold Medals to the meritorious all round academic performers of the CUJ in periodic Annual Convocation sessions of CUJ. The Bank officials present also informed that the Bank is looking forward to emulate the same industry-academia partnership and offer customised services and facilities in other prospective universities and educational institutions who want to enter into such exclusive collaborations with JK Bank, across the state,” it added.

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