J&K Bank signs MoU with Ladakh Administration

Jammu and Kashmir Bank on Tuesday signed a memorandum of understanding with the Administration of Ladakh union territory, conferring preferential status to each other.

According to the MoU, the Ladakh UT Administration would nominate J&K Bank as "preferred banker" for all its banking-related services, while as, J&K Bank would give the "most favoured client" status to UT Administration and its active permanent employees who maintain their salary accounts with the Bank, a spokesman of the bank said.

Lieutenant Governor Ladakh (UT) R K Mathur also handed over the keys of the e-rickshaws provided by J&K Bank to the University of Ladakh besides the commitment letter under which J&K Bank would provide support to 50 tuberculosis (TB) patients from Kargil as part of their Corporate Social Responsibility (CSR) activities.

Mathur announced to launch 'public participatory programmes' across Ladakh wherein the UT administration in collaboration with councils and panchayats will work with the Bank in identification of beneficiaries on a large scale who can avail loans from the bank under different employment generation schemes.