Jammu and Kashmir State Cooperative Bank (JKSCB) has entered into an MoU with Axis Bank to launch PoS (Point of Sale) services for its customers, thus, becoming the first cooperative bank in the state to introduce the service.
According to a statement of the JKSCB, a function was heldat the corporate office which was presided over by chairman of the bank MS Darand attended by M Lateif, MD SCB, Abdul Rashid Mir, GM SCB, Sheikh Moin ClusterHead Axis Bank and other senior officers of both the banks. The services will be provided in partnershipwith the AXIS Bank.
Speaking on the occasion, MS Dar said that the service hasbeen launched to boast cashless banking and will benefit its customers who areoperating merchant establishments, institutions etc.
He said that in thefirst phase, SCB is planning to install 2000 terminals, mainly in rural areasin 2019-20.