J&K Bank today inked a Memorandum of Understanding (MoU) with M/S Indian Oil Corporation Ltd (IOCL), here at Corporate Headquarters paving the way for installation of J&K Bank Automated Teller Machines (ATMS) and allied service facilities at selected Retail Outlets (petrol Pumps) of IOC all over India.
Mr. Tafazal Hussain Executive President signed the agreement as representative of the Bank where as Mr. R K Arora, General Manager (IOCL) Punjab put in his signatures on behalf of IOCL in presence of Mr. I K Koul Bank's Vice president, Strategy and Business Development (S&BD), Khurshid A Fazili Senior Executive Manager (S&BD) and D K Sharma DGM Retail, Punjab.
Speaking on the occasion, Tafazal Hussain said, "Today, the two companies have forged a strong and mutually beneficial relationship not only in the state but at national level as well."
The installation of ATMs at these IOC sites, he said, would bring convenience to consumers in general and our customers in particular.
After signing the agreement, Mr. Arora expressed hope that the MoU would benefit both the companies in the longer run.
He said, "We are looking forward to a scenario wherein your ATM cards would be used at prominent IOCL locations across India."
These sites would serve as joint outlets for customers of IOCL and J&K Bank, he added.
R K Shahab Divisional Retail Sales Manager IOCL (J&K) and Syed Riaz Deputy Manager, Retail Sales Srinagar were also present on the occasion.
Pertinent to mention, that the Bank has already entered into such agreements with HPCL and BPCL.