Cooperative Bank commissions first off-site ATM

J&K State Cooperative Bank commissioned its first off-site ATM at ParrayPora, here. With this, the bank has taken the tally of its ATMs to 22. 

Secretary Cooperatives, Abdul MajeedBhat inaugurated the machine in presence of Registrar Cooperatives M.M. Gassi, bank’s Chairman MS Dar, Managing Director M Lateif, and other senior officers.

Speaking on the occasion, Bhat while applauding the role of state cooperative bank, stressed upon the need to spread the footprints of the bank far and wide.

He said technology adoption will help the cooperative banks to remain afloat in the fast changing financial environment.

Speaking on the occasion, MS Dar said the demand to open an ATM at ParrayPora was raised several times by the people from the area.

He said that the cooperatives are the backbone of the rural credit structure due to their inherent characteristics. He said the Bank is planning to install seven Offsite ATMs this fiscal. He informed the Secretary that the Bank has already started the process to introduce internet and mobile banking facilities.

Managing Director, M. Lateif said the bank is leaving no stone unturned to keep pace with its competitors. He said the bank has recently entered into an arrangement with Axis Bank to provide PoS machines to its clientele. “The bank is soon going to launch Forex Travel Card to help its customers avail the cash withdrawal facility while visiting other countries,” he said.