Srinagar: The Jammu and Kashmir Police and Jammu and Kashmir Bank on Thursday signed a Memorandum of Understanding (MoU) for providing preferential banking services and benefits to the Police personnel.
The Memorandum of Understanding (MoU) was signed by the Director General of Police Dr. S.P. Vaid and Parvez Ahmed, Chairman J&K Bank, in presence of top officers and Executives of Police and Bank, a police spokesman said.
By virtue of this MoU, the spokesman said, the J&K Bank will provide customized Saving Bank Account variants for Police Personnel from Constable to General level rank, Platinum card for IGP and higher ranks, Diamond card for Dy.SP upto SSP, Gold card for ASI upto Inspector and Silver card for all other police personnel.
Bank will also provide zero balance account, free international debit card with different transaction limits, “add-on-card” to the spouse or nominee, free multicity cheque book and smart saver account facility, he said.
It will waive off processing fee on personal, auto, home and education loans and provide free online NEFT/RTGS fund transfer to any bank across India. Demat and online trading account, free digital banking services will also be provided. Health insurance at reasonable premium will be initiated, the spokesman said.
Besides, the bank will also provide preferential pricing on loan products and there will be no need of letter of confirmation. Security precautions regarding integration of data-base of employees is to be utilized and the gross deduction for computation of loan amount shall be relaxed, the spokesman said further.
The bank will also give preference to retired J&K Police personnel for employment in J&K Bank as Security Guards. JK Bank gave most favoured client status to J&K Police and in J&K Police gave most favoured banker status to J&K Bank.
Speaking on the occasion the DGP Dr. S.P. Vaid said that both J&K Bank and J&K Police worked under the challenging circumstances to provide peace and harmony. It was in this backdrop that he had requested the Chairman J&K Bank to provide facilities which are enumerated in the MoU for the policemen serving in “difficult situations” and in far-flung areas. The DGP thanked the Chairman for responding to the request and hoped that this will go as a great welfare measure for thousands of the Policemen and their families, he added.
In his address Chairman J&K Bank Parvez Ahmed said that during the last 30 years J&K Police has given supreme sacrifices for peace and harmony of the State and as a mark of respect to these scarifies rendered by J&K Police, the MoU has been signed so that preferential banking services and benefits are provided to the police personnel and their families.
From J&K Bank Vagish Chander EP(V), S.S. Sehgal EP(V), Rakesh Gandotra V.P (S&BD) were present while Special DG (Police Headquarters) V.K Singh, IGP Headquarters Surinder Gupta, AIsGP PHQ Sheikh Junaid Mehmood, Mubassir Latifi, Abdul Waheed Shah and Musadiq Basu Dy.SP (IMS) were from the Police side.
“It was decided in the meeting that the directions will be passed by both J&K Bank and the J&K Police to the units down under to explain and implement the MoU,” the spokesman added.
ADVERTISEMENT
