J-K Bank, police join hands for enhanced services to personnel, martyr families

The Jammu and Kashmir Bank Friday signed a Memorandum of Understanding with the Union Territory's police to provide enhanced preferential banking services to its personnel and families of martyrs.

Srinagar: The Jammu and Kashmir Bank Friday signed a Memorandum of Understanding with the Union Territory’s police to provide enhanced preferential banking services to its personnel and families of martyrs.

According to the Memorandum of Understanding (MoU), the J-K bank will extend various facilities of concessions or relaxations towards kin of martyrs, which include most favoured client status, customised banking services like no average quarterly balance (AQB) requirement/ average monthly balance (AMB) requirement, free cheque book facility, no ATM transaction charges across banks, and free digital banking services, among others, a police spokesperson said.

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The MoU was signed by the Director General of Police Dilbag Singh and J-K Bank MD and CEO Baldev Prakash at the police headquarters here, a police spokesperson said.

The DGP thanked Prakash for extending enhanced services to the ‘J-K Police Pariwar’.

Addressing the gathering, Singh said this MoU was a step closer to the commitment of the J-K Police to hold firmly the hands of the families of its martyrs.

He highlighted the role and efforts of J-K Police in strengthening peace and development in the Union Territory (UT).

Like J-K Police, the J-K bank, too, has its footprints everywhere in the UT, the DGP said, adding that both institutions have pivotal responsibility for the peace and stability of the region.

He said he was hopeful that the bank would extend more benefits to the police personnel, including retired cops, in future.

Prakash paid tributes to the J-K Police martyrs who sacrificed their lives for peace in the UT, and lauded the police’s efforts to “work day in and day out to secure the lives of the people”.

Prakash added that the J-K bank has also been working in a mission mode for the economic development of the region.

Owing to the overall improvement in the security scenario in the UT, the banking sector has witnessed a growth in its business.

The police spokesperson said according to the MoU, the J-K bank will provide Rs 15 lakh to the next of kin of police martyrs, Rs 15 lakh to police personnel who become permanently totally disabled on service, and Rs 7.5 lakh to the personnel who become permanently partially disabled while checking terrorism-related activities or law and order incidents.

The bank will also provide Rs 6 lakh to kin of SPO (Special Police Officer) martyrs, Rs 6 lakh to SPOs who become permanently totally disabled, and Rs 3 lakh to SPOs who become permanently partially disabled on duty.

It will also give Rs 20,000 for the repatriation of mortal remains of police martyrs and a payment of Rs 15,000 on account of ambulance charges.

A Group Personal Accidental Insurance cover of Rs 25 lakh in favour of police personnel or SPOs is also included in the MoU.

J-K police shall be entitled to all the incentives, product offerings, and relaxations offered to permanent employees of the J-K government, the spokesperson said.

Under the MoU, the J-K Bank and J-K Police will form a central team that would coordinate with each other so that desired service levels are maintained, the spokesperson added.