SRINAGAR: Jammu and Kashmir Bank has entered into a Memorandum of Understanding (MoU) with FIL Industries Private Limited to bring nearly 600 employees of the Srinagar-based business group under its Corporate Salary Package, strengthening an institutional banking relationship between the two organisations.
The agreement was signed in Srinagar by J&K Bank Zonal Head (Srinagar) Sheikh Mohammad Muzaffar and FIL Industries Managing Director Junaid Altaf Bukhari.
The partnership will provide FIL Industries employees access to a range of customised banking services, including specialised salary-account variants, preferential loan facilities, insurance benefits and enhanced digital banking services.
Speaking at the signing ceremony, Sheikh Mohammad Muzaffar said the agreement reflected the Bank’s efforts to deepen its longstanding institutional relationship with FIL Industries while extending customised banking benefits to its employees.
“Through preferential products, enhanced digital convenience and need-based financial solutions, we aim to add value to their overall banking experience,” he said.
Cluster Head Syed Tasaduq Madni briefed the participants on the salient features of the Corporate Salary Package, including preferential retail-credit facilities, insurance coverage and digital banking services.
The agreement with FIL Industries is part of J&K Bank’s broader effort to expand its corporate salary portfolio by partnering with established institutions and organisations across Jammu and Kashmir. For FIL employees, the arrangement is expected to provide easier access to banking, credit and insurance products through a package tailored to salaried customers.
The Bank also signed a separate MoU in the Jammu division with Brahmrishi Bawra Shanti Vidya Peeth Higher Secondary School, Udhampur, covering its staff strength of more than 165 employees.
At a ceremony in Udhampur, J&K Bank Zonal Head (Udhampur) Arjun Singh Rathore signed the agreement on behalf of the Bank, while Chairperson Chinmay Jyoti (Didi Ji) signed on behalf of the school.
Rathore said the partnership reflected the Bank’s focus on building institutional relationships through customer-centric banking solutions. He said the Corporate Salary Package combined preferential financial benefits with technology-driven services to address the evolving professional and personal banking needs of employees.
The Udhampur ceremony was attended by J&K Bank Cluster Head Ritesh Sharma, Branch Head (Shakti Nagar) Nikhil Grover, Chief Manager Sanjeev Gupta, Brahmrishi Bawra School Admin Officer Jeetender Kumar, Principal Ashwani Kumar and Bank officials Sunil Mansotra and Asmita Malgotra.
Through the two agreements, J&K Bank is seeking to widen the reach of its Corporate Salary Package, offering employees of partner institutions customised salary accounts, preferential retail-credit products, insurance benefits and digital banking facilities while consolidating its institutional presence across Jammu and Kashmir.
