With a view to improve retail portfolio and generate employment opportunities in the State, J&K Bank today signed a Memorandum of Understanding (MoU) with ATUL Auto Limited, a Gujarat based company. President & Zonal Head Jammu (Central) O.P. Sharma signed the MoU on behalf of J&K Bank and Area Manager, Swaranjit Singh put in his signatures on behalf of Atul Auto Limited in the Bank's Zonal Headquarters at Rail Head Complex, Jammu.
Speaking on the occasion, O P Sharma said, "The signing of MoU is beginning of a relation that would be beneficial for both the companies in the longer run."
The MoU will enhance the reach-out capacity of the auto company in the state due to the Bank's wide network and will in turn help in generating employment opportunities in urban and rural areas of the State," he added. Also present on the occasion were Vice-President J&K Bank Nishi Baru, Bilal Ahmad and Tanveer Rasool Wani from Green Land Motors (The authorized dealers of Atul Auto Limited for Jammu).
Notably, Atul Auto is a leading automobile company incorporated in 1986 with manufacturing facilities at Shapar-Rajkot (Gujarat) with total installed capacity of 30,000 vehicles per annum. The company at present has a wide network in domestic and global market.