Srinagar, Dec 13: Taking its service levels to new highs, J&K Bank, state’s only listed company, today announced enhancement in the limit for payments through its Global Access Card at Point of Sale (PoS) machines. The new limit has been fixed at Rs 1 lakh per day.
 Besides, the cash withdrawal limit through the cards for Savings Bank accounts (Deluxe categories) has been enhanced up to Rs 50000/day.
 The announcement, according to a statement issued by the Bank here today, was made by Parvez Ahmad, Bank’s President and Secretary, soon after inaugurating the Bank’s 328th ATM at Sakidafar here. Abdul Hamid Banday, Zonal Head Kashmir Central was also present on the occasion.
 Elaborating on the transaction limit enhancements, Parvez said that the Bank, based on financial standing of its customers, has categorized its saving bank account holders into various categories. 
 “While general salary, general savings and Current Account holders henceforth can make purchases through Global Access Card up to Rs.75000 per day.
 Deluxe salary and deluxe saving account holders (whose quarterly balance is above Rs.5000 shall now be able to withdraw cash up to Rs.50000 and can make purchases/ payments up to Rs 1 lakh per day,” Parvez informed the gathering to a grand applause.
 In addition to this, he said the loan processing charges shall be waived off for all car loan customers who deposit margin money through PoS terminals,
 Linking the massive expansion of Bank’s ATM network with steps towards enhanced customer convenience, Parvez Ahmad said that it was part of Bank’s strategy to improve service levels and operating efficiency.
 “J&K Bank ATMs, on an average, dispense Rs 20 crores through more than 70000 transactions per day,” he said.
 Meanwhile, Zonal Head, Kashmir (Central), Abdul Hamid Banday, on the occasion stated that it has been all along endeavor of the Bank to bring in technology driven services at the doorstep of people.
 Locals, the statement said, expressed their gratitude for installation of the ATM. While appreciating Bank’s various initiatives for economic uplift of people, they demanded a separate business unit for the area.

Lastupdate on : Mon, 13 Dec 2010 21:30:00 Makkah time
Lastupdate on : Mon, 13 Dec 2010 18:30:00 GMT
Lastupdate on : Tue, 14 Dec 2010 00:00:00 IST