In Two Days, Rs 1873 Crore Withdrawn

SRINAGAR: The Jammu and Kashmir Bank did not oblige the Kashmir trade by not making the weekend a working day but it did dispense a lot of cash for the second consecutive day. Using different modes, the people withdrew Rs 819 crore on Saturday, on Arafah, a day before Eid.

“In the last two days – July 8 and July 9, we managed nearly one crore transactions – 93.11 lakh to be exact, and disbursed Rs 1873 crore,” one bank official said. “Our systems worked better and it was flawless.”

Using all bank transaction tolls, the JK Bank clientele withdrew a sum of Rs 1053.9 crore on July 8, 2022. However, on July 9, the overall Rs 819.3 crore was withdrawn.

The transactions for Saturday included Rs 471 crore through mPay, Rs 154 crore through ATM, Rs 90 crore via UPI, Rs 93 crore involving e-banking and Rs 11.30 crore were direct purchases using the payment through the point of sale machines.

It is interesting, however, that Friday witnessed fewer transactions but more withdrawals and Saturday saw more transactions and fewer withdrawals. People withdrew Rs 1053.90 crore on Friday in 4329105 withdrawals. On Saturday, however, they withdrew Rs 819.30 crore in 4982034 transactions.

By and large, it is almost the same trend that the Eid-ul-Fitr exhibited when people withdrew less than Rs 2000 crore three days before the Eid prayers. 

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