Desirous of exploiting possible business opportunities in India for being able to work together and harness joint capabilities for their mutual benefit, two big names in the banking industry J&K Bank and UTI Bank signed a Memorandum of Understanding (MoU) here at the Bank's Corporate Headquarters today.
The MoU has been signed to explore potential business opportunities in India for the joint benefit of the parties relating to merchant banking activities such as debt and equity syndication.
It also includes joint underwriting, derivative transactions, corporate and financial restructuring advisory services and project advisory services such as identification of new projects developing project structure and project appraisal.
On behalf of J&K Bank Mr Mushtaq Ahmed, Executive Director and Mr N A Koul, President Advances and Asset Planning signed the memorandum. While Mr MM Agarwal, Executive Director and Mr Sushil Bhagat, Senior Vice President signed MoU on behalf of the UTI bank. The signatures and exchange of documents took place in presence of Dr Haseeb A Drabu, Chairman And Chief Executive J&K Bank.
Mr AR Fazili, Executive Director, Mr MA Shah, President were also present on the occasion.
Meanwhile, the Ganderbal branch has fully adopted three villages viz. Zazna, Ahan and Batwina