J&K Bank signs MoU with Jammu University

VC JU Prof Umesh Rai and senior officers of J&K Bank during signing of MoU.
VC JU Prof Umesh Rai and senior officers of J&K Bank during signing of MoU.

Excelsior Correspondent
JAMMU, Sept 21: J&K Bank today entered into a Memorandum of Understanding (MoU) with Jammu University (JU), wherein the bank bestowed most-favoured client status to the employees of Jammu University and the University declared J&K Bank as a preferred Banker for all banking related services required by its employees.
Deputy General Manager and Zonal Head (Jammu) Rajesh Dubey signed the MoU on behalf of the Bank and Registrar Jammu University Prof Arvind Jasrotia put in his signatures representing Jammu University in presence of Vice Chancellor Prof Umesh Rai, Bank’s General Manager & Divisional Head Sunit Kumar, Cluster Head Aneeta Nehru, Branch Head Sunil Kumar besides senior officers of Jammu University and the Bank.
Speaking on the occasion, Sunit Kumar said that the signing of this MoU is reinforcement of the Bank’s commitment to over four decades of relationship between the Bank and the University. He said, “By signing the agreement we have taken the existing relationship to a new level of collaboration which I believe will be beneficial to both the institutions. Today, through this win-win agreement, we shall be providing the best-in-class banking and financial services to the employees of this great institution.”
Notably, according to the agreement, J&K Bank will offer customized products to the employees of Jammu University with various in-built features besides waiving off processing fees in case of personal, auto, home and education loans, along with concessional rate of interests.
The employees of the University can now avail preferential pricing on all loans along with permissible deduction up to 75% of gross income. In addition, Car/Personal loans can be granted additional interest rate concessions based on Credit Score. Moreover, as per the agreement, Jammu University will allow the Bank to use the employee database to optimize the quality and TAT of banking services, especially the credit delivery mechanism.