Chairman and CEO of J&K Bank, Parvez Ahmed on Sunday launched Mandi Finance Scheme of the bank for traders of agriculture produce across the country at a function held in Amritsar.
According to a bank statement, the chairman launched J&K Bank's Mandi Finance Scheme in presence of executive presidents PK Tickoo and RK Chhiber, presidents Rakesh Gandotra and Arun Gandotra, zonal head Anokh Singh, prominent businessmen of Amritsar, members of trade fraternity of Punjab, a large number of customers and staff of the bank, while all the zonal heads from other states joined the launch ceremony through video conferencing.
Earlier in the day, Ahmed inaugurated the new state-of-the-art premises of business unit Amritsar.
"Punjab is the agriculture capital of the country and has been the front runner in the green revolution in the country leading to food sufficiency for the nation and we thought that it is both relevant and appropriate to launch the J&K Bank Mandi Finance Scheme for traders of agriculture produce from Amritsar," said the chairman.
"Amritsar besides being a pious and spiritual centre is a major trading partner of J&K and was the first city chosen to open J&K Bank's first branch in Punjab in 1973. The bond of banking relationship with Punjab has since been strengthened with enthusiastic reciprocation from the business community of Punjab. Taking this relation to next level, today we are making history again by launching our unique customised mortgage loan scheme for traders of agricultural produce -Mandi Finance Scheme, to provide hassle free working capital finance to registered members/merchants/traders dealing with trade of fruits/vegetables/cereals and other agricultural produce."
He said the scheme, already popular in J&K, will now be operational across all branches of the bank in rest of India and all merchants who are customers of the bank and are members of the recognised association of concerned Mandi or registered commission and forwarding agents can avail this facility at one of the lowest rate of interests in the banking industry.
Executive president PK Tickoo in his address delineated the bank's products and policies which he said are continuously being aligned to the market dynamics to customize them for the convenience of the customers. RK Chhiber executive president shared his experiences of working in Punjab where he said the bank was having one of the most loyal customer base since decades of its operations. Earlier while inaugurating the new business premises at Shastri Market Amritsar, chairman and CEO Parvez Ahmed directed the team to offer par excellence customer service to the people and engage all digital products to provide an enhanced customer experience.
The chairman said that bank is also planning to increase its presence in Punjab via ATM and branch network expansion.