J&K Bank strengthens ties with KU, signs 2 MoUs

* Rs 1 cr announced for varsity as part of CSR initiative

Excelsior Correspondent
SRINAGAR, July 11: J&K Bank today strengthened their relationship with University of Kashmir (KU) to the next level by conferring the ‘Most Preferred Client’ status to the University, besides laying the foundation stone of a modern banking center comprising of a Business Unit and a Digital Lounge within the campus.
The foundation stone for the construction of bank owned Business Unit and Digital Lounge within the campus of the University, was laid was Vice-Chancellor, KU, Prof Khurshid Iqbal Andrabi in the presence of J&K Bank Chairman and CEO Parvez Ahmed.
While speaking on the occasion, Parvez Ahmed said, “As a firm believer in the cross-pollination of ideas between the industry and academia, it has been a long-standing desire to strengthen our already deep ties with the Kashmir University further and we got a perfect opportunity today.
He further said, “Since the inception of our relationship with the Kashmir University, our priority has been to understand your needs and expectations from J&K Bank in serving as your financial partner. I am glad that we have extended our unique product called ‘Phone Pe loan’ facility to the employees of the University.”
Speaking on the occasion, Khurshid Iqbal Andrabi said, “Mutual business interests don’t always result in forging partnerships. I think the motivation was slightly different here. With J&K Bank, we’ve always felt like a family and this sense of belonging with this bank played the key role besides the charismatic personal touch of the Chairman.”
He asserted, “Its moral responsibility of all the institutions to cater to the requirements of Kashmir University for their own benefit because this institution nurtures and nourishes their much needed human resource. Regardless of the dispensation here at KU, this institution is supreme as it imparts education. And I am certain that this relationship with the J&K Bank will further be strengthened in future as well.”
Earlier, two MoUs were signed between J&K Bank and KU. The first MoU was regarding establishment of a building owned by the Bank housing its Business Unit along with a Digital Lounge within the University Campus while as per the second agreement, the University bestowed the bank with ‘Most Preferred Banker’ status for its all banking related services exclusively. According to the agreement, the Bank also conferred the most favoured client status to KU.
Meanwhile, J&K Bank announced that it will enter into an MoU with KU to promote the Start Up Eco System in the Kashmir Valley by financing the incubated ideas of bright educated youth in the University Incubation centre during their scaling up stage. The Chairman also announced contribution of Rs 1 crore as part of its CSR initiative under the mutually agreed terms and conditions for facilitating the entrepreneurs with tools and equipments in the proposed Incubation centre.

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