A Memorandum of Understanding (MoU) was inked between J & K Bank and Government College for Women Parade Jammu to facilitate a multi functional Co branded Campus Card for the students of the college. The chip based co-branded card will operate both as a debit card and a smart card. Such cards are being used globally in educational institutions for a serving a number of purposes like identity card, debit card, integrated access and attendance card.
The MoU was signed by J&K Bank, President CBO, Mr. Maqbool Lone and Principal GCW Dr. Hemla Aggrawal in the presence of Prof. Manoj K Dhar Vice-Chancellor University of Jammu. Also present on the function were J & K Bank Vice President & Zonal Head Mr. Sudhir Gupta along with faculty members and administrative team of Government College for Women and other senior officials of the bank.
In her welcome address Principal GCW Dr. Hemla Aggrawal lauded the role of Bank towards designing a goal oriented approach for the welfare of student community as well as Government employees of the state. She also recalled the active role played by the J&K Bank Team during digitalization of admission process and collection of admission fees by GCW. “The Bank has made its presence felt in every nook and corner of the state by providing state of the art banking facilities and consummating the principle of 'Socially Empowering Banking' and delivering innovative financial solutions to every house hold.” She added.
While unveiling the customized Campus Card, Vice-Chancellor Jammu University Prof. Manoj K Dhar said that J & K bank being the premier flagship company of the state has under taken many major CSR initiatives in the state, particularly in the institutions of higher learning thereby creating an environment of Business development and mutual reliance. The Bank besides playing a pivotal role in economic development of the state and country, contributes significantly towards the social causes as well. As a responsible corporate citizen, the Bank seeks to recognize obligations towards society and aims to integrate the CSR ideals into its mission for optimizing both business and social performance. The CSR initiatives differentiate the Bank’s brand and enhance its status.
He further added that it is a moment of pride that GCW which has been providing quality education and producing responsible citizens has taken an appreciable leap towards technology by entering into this MoU with J & K Bank. It will not only provide banking services to the staff and GCW students on their finger tips but also provide the students with Smart Cards that will act as ATM card as well as Photo Id card, enabling RFID attendance and access in the campus.
By the virtue of this MoU, J & K Bank will extend “Phone Pe Loan” facility to the active permanent employees of the Government College for Women, Parade, Jammu and this facility shall be presently available on J&K Bank Saral/Sahuliat Finance Scheme as well as J&K Bank Cash Credit Facility for Salaried employees. This mechanism allows the employees of Government College for Women to apply for the loan using mPAY mobile application or IVR based approach. This service will deliver a quick loan facility to the employees of GCW with a minimal processing time without any need to pay personal visit to the branch of the bank and thus eliminating the lengthy documentation process.
Speaking on the occasion, Mr. Maqbool Lone said, “I feel exalted that the two institutions have entered into a MoU to issue co branded cards to the students of GCW. The students simply need to open an account with the bank, and the Campus card will be provided free of cost. This card will also be compatible with the software applications used by the college, and will provide digital access of library to the students.”
Mr. Lone further added, “World has become a global village and the present time is the age of technology and various digital & alternate delivery channels like mobile banking e-banking, POS are available. Under the tutelage and leadership of our visionary chairman and CEO, Parvez Ahmed, our Bank has come up with new and innovative products for the specific needs of the public and launching of Smart card exclusively for the students of GCW is one such prudent step in this direction.” The idea of MoU is to harvest the benefits of mutual synergy between the two partners that can make banking a very pleasant experience for everyone, and we at J & K Bank uphold a strong commitment towards customer delight in highest standards of customer service, he added.
Participants including staff and students of GCW were also informed about other schemes Car Loan, Housing Loan, Education Loan etc. of the bank through a business promotion kiosk set up at the venue. On spot loans were also sanctioned to staff of GCW.