SRINAGAR: J&K Bank has announced to adopt Saddal village, a remote in Panchari block of district Udhampur. The bank is rolling out financial inclusion programme and making innovative interventions for generating livelihood opportunities in the Saddal village. The basic aim of the initiative is to pull the villagers out of the economic backwardness. In this connection, the bank has announced opening of its Ultra Small Branch in the village.
The Ultra Small Branch would offer modern banking facilities like deposit, withdrawal, fund transfer, loan repayments, balance inquiry and collection of account opening forms to the residents of the village and also undertake periodic Financial Literacy Campaigns to promote healthy credit culture, a bank handout issued here on Saturday read.
“The bank aims to undertake multiple level interventions along with the district administration and other agencies to enhance the financial profile and boost livelihood of the village,” the handout read.
J&K Bank in collaboration with Indian Institute of Integrated Medicine, Jammu is exploring the potential of the area towards cultivation of aromatic and medicinal plants which can enhance chances of income generation of households and improve the economic profile of the village, it further read.
“A team from the bank and IIIM, Jammu has already conducted the pilot testing for cultivation for Lavender and another pilot is in operation by IIIM, Jammu for growth of an aromatic plant Tagetus minuta in the area,” it read.
Upon successful results of the pilots, IIIM Jammu and J&K Bank would jointly install and operate a Common Facility Centre near the premises of the Ultra Small Branch which would facilitate the residents towards distillation and processing of the aromatic plants for extraction of oil and other value added products with huge demand in pharmaceutical, FMCG and other industries world-wide, read the handout.
“The bank will also extend support under CSR to the village by adoption of a government school located in the area and introduce Smart Class Programme for the promotion of education of girls,” it read.
The bank has requested the state administration to provide para-veterinary facilities for animals as domestication of cattle is one of the major income generation activities of the village, the handout added.