First off site ATM of State Co-operative Bank inaugurated
Srinagar: Jammu and Kashmir State Co-operative Bank inaugurated its first offsite ATM, a handout issued by the organization said.
It said that an impressive inauguration ceremony was held at Parray Pora, Srinagar to launch the 22nd ATM of the Jammu and Kashmir State Co-operative Bank.
The ATM was dedicated to the people of Parray Pora by Secretary Co-operatives, Abdul Majeed Bhat in presence of Registrar Cooperatives M.M. Gassi, Chairman of the Bank M.S. Dar, Managing Director M. Lateif, Adl Managing Director Shabana Buchh and several senior officers of the Bank. The ATM at Parray Pora is the first Off-site ATM installed by the Bank
Speaking on the occasion, Bhat while applauding the role of state cooperative bank, stressed upon the need to spread the foot prints of the Bank far and wide.
He said technology adoption will help co-operative banks to remain afloat in the fast changing financial environment.
He expressed his satisfaction on the role played by State Cooperative Bank in modernising its structure to keep pace with the fast changing financial environment.
Bhat expressed hope that the expansion of Offsite ATM network will help further in strengthening the image of the Bank.
While speaking on the occasion, M.S. Dar said that the demand to open an ATM at Parray Pora was raised several times by the respected citizens of the area.
He said that the Cooperatives are the backbone of the rural credit structure due to their many inherent characteristics, strengthening this structure is therefore a prerequisite, if the credit requirements of the rural populace are to be properly addressed.
He informed the Secretary that the Bank is aggressively undertaking expansion of Branch and ATM network as well as introduction of technology based products. He further said that the Bank is planning to install seven Offsite ATM`s this fiscal. He further informed the Secretary that the Bank has already started the process to introduce internet and mobile banking facilities.
Thanking Abdul Majed Bhat for his time and support, Managing Director, M. Lateif said that the Bank is leaving no stone unturned to keep pace with its competitors. He said that the Bank has recently entered into an arrangement with Axis Bank to provide PoS machines to its clientele.
He further said that the Bank is soon going to launch Forex Travel Card to help its customers avail the cash withdrawal facility while visiting other countries.