Need to join hands, bring more transparency to our systems: JK Bank Chairman

Need to join hands, bring more transparency to our systems: JK Bank Chairman
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KTMF hails bank’s role in socio-economic development

SRINAGAR: J&K Bank Chairman, Parvez Ahmed on Wednesday said that we need to join hands and bring more efficiency and transparency to our systems of working both in the institutions and the businesses.
“Our businesses need to keep growing so that we achieve our goals of comfortable and dignified living as a society”, he added.
Parvez was speaking during a meeting with a delegation from Kashmir Traders and Manufacturers’ Federation (KTMF) led by its Senior Vice-President Fayaz Ahmad Bhat that called on him here at the bank’s corporate headquarters on Wednesday.
Commending the business community of J&K on the occasion, Parvez said, “Supporting the business community is one of our key objectives, for your progress is directly linked to our growth as a bank. And with the kind of admirable credit culture in the state, the community deserves appreciation for running their businesses honestly despite so many hardships in the state,” an official handout read.
“Extending our support further in this spirit, we shall soon establish Business Facilitation Centers (BFC) in all the districts of the state wherein the business community will be educated and advised on matters related to finance and banking. Also, there will be separate helpdesks at all these centers for the filing and submission of a statement like GST, ITR etc.,” he added.
The delegation hailed the role of the bank in the socio-economic development of the state especially, the financial progress of the small businesses operating in the Kashmir valley. The members put forward their views and voiced their concerns and suggestions during the meeting.
“This bank is our real hope in times of need. Whether there is natural calamity or turmoil, the bank has always come to the rescue of the business community and supported it wholeheartedly. We all need to be honest in our dealings with the institution that serves the people with an unmatched dedication”, said a KTMF delegate.
Responding to the issue of skipped flood-related insurance claims of some of the bank’s borrowers, the chairman said that the bank was in the process of completing a diligent exercise to identify and analyse all the genuine claims, which would be settled soon, the handout read.
“Genuine claims, if any, will be dealt with all fairness and empathy”, he said.
The delegation complained about the “poor service and dismal settlement record” of Bajaj Allianz, which is the insurance partner of the bank; responding to which the chairman directed the concerned executive president to take up the issue strongly with the said company.
“Both our reputation and our customers’ interest is involved in all this. And I will address all these issues on priority basis”, he asserted.
Regarding requests for ATMs in several areas, Parvez Ahmed issued an on-the-spot order to the concerned about the installation of ATMs, preferably with a cash deposit system at all the required places.
“We need to ensure that people don’t feel the need to visit our business units to deposit or withdraw small amounts of cash,” he stressed.
After listening to the personal experience of a KTMF member regarding the occasional incidences of transaction failure while making an RTGS payment, Parvez said, “The issues were already being looked into and the upgradation of the IT infrastructure was underway for all digital platforms to ensure swift and secure digital transactions.”
The chairman assured the delegation that more such interactions with trade bodies and other representative associations would be conducted on regular basis in future not only to ascertain customer concerns and suggestions but to streamline bank services and strengthen the bonds in the process, the handout added.

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