J&K Bank adopts Saddal village for socio-economic upliftment


Jammu and Kashmir Bank has announced to adopt Saddal village, a remote area falling in block Panchari of district Udhampur.

“The bank is rolling out financial inclusion programme and making innovative interventions for generating livelihood opportunities in the Saddal village,” the spokesman said.

“The basic aim of the initiative is to pull the villagers out of the economic backwardness. In this connection, the bank has announced the opening of its Ultra Small Branch in the village,” he said.

Notably, Saddal village was completely washed away in 2014 floods causing massive damage to life and property of the inhabitants. Union Minister of State PMO, Dr. Jitendra Singh, directed to roll out developmental programmes including the financial inclusion programme in the area as he has been directly supervising the process of reconstruction and rehabilitation of the village, the spokesman said.

“The Ultra Small Branch will offer modern banking facilities like deposit, withdrawal, fund transfer, loan repayments, balance inquiry and collection of account opening forms to the residents of the village and also undertake periodic Financial Literacy Campaigns to promote healthy credit culture,” he added.

The spokesman in a statement said that Saddal is one of the under-developed villages of the district with poor access to road connectivity.  Bank has already conducted a door to door financial survey of the village. The Ultra Small Branch will offer great relief to the residents of Saddal and other adjoining villages who have to otherwise travel 15- 20 kms to Moungri to conduct bank transactions.

“The bank aims to undertake multiple level interventions along with the District Administration and other agencies to enhance the financial profile and boost livelihood of the village. Bank in collaboration with Indian Institute of Integrated Medicine, Jammu is exploring the potential of the area towards the cultivation of aromatic and medicinal plants which can enhance chances of income generation of households and improve the economic profile of the village,” said the spokesman.

“A team from Bank and IIIM, Jammu has already conducted the pilot testing for cultivation for Lavender and another pilot is in operation by IIIM, Jammu for the growth of an aromatic plant Tagetus minuta in the area,” he added.

The spokesman in a statement said that upon successful results of the pilots, IIIM Jammu and J&K Bank will jointly install and operate a Common Facility Centre near the premises of the Ultra Small Branch which will facilitate the residents towards distillation and processing of the aromatic plants for extraction of oil and other value-added products with huge demand in pharmaceutical, FMCG and other industries worldwide.

The Bank will also extend support under CSR to the village by the adoption of a government School located in the area and introduce Smart Class Program for the promotion of education of girls. The Bank has requested the State Administration to provide para-veterinary facilities for animals as the domestication of cattle is one of the major income generation activities of the village.


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