Srinagar: To streamline its revenues accruing from its commercial assets, the J&K Waqf Board has taken a significant reformative initiative and executed a Memorandum of Understanding (MoU) with the HDFC Bank to switch over to online mode of rent and donation collection.
A statement of the Waqf Board issued here said that the MoU was executed in presence of Waqf Board Chairperson Syed Darakhshan Andrabi and Branch Banking Head North (Senior Executive Vice President HDFC) Arun Mediratta at Sonwar, Srinagar.
The statement said that the MoU was aimed at bringing all the Waqf property users on an online platform so that rentals from all commercial assets are received on time through easy-to-use online facilities without involvement of Waqf field staff.
It said that simultaneously, HDFC Bank would put in place e-donations facility through payment gateways on J&K Waqf Board website.
The statement said that speaking on the occasion, Andrabi highlighted the targets achieved vis-à-vis rent collection and resolution of property disputes in the interest of Waqf revenues over the last one year.
It said that the Waqf chairperson also reiterated the commitment of J&K Waqf Board for mobilisation of donations from the rest of the country and abroad for funding of Health and Education sector initiatives of Waqf in J&K.
The statement said that Andrabi handed over a cheque worth Rs 1 crore to the HDFC Bank authorities to mark the beginning of business partnership with the HDFC Bank.