Jammu and Kashmir Bank chairman on Tuesday after unveiling two new technology product offerings namely EMI on Credit Cards and Bharat Bill Payment System (BBPS) said: “We view technology as effective and swift means of transforming the financial landscape of the state while taking the progress of people of J&K to the next level. So we are fast catching up with the best industry practices and products in digital banking space as customer expectations remain at the heart of our product development process.”
“With a view to facilitate the credit card users of the bank, a new feature Equated Monthly Installment (EMI) has been introduced wherein the users will be able to convert their purchases from different merchant sites into easy monthly installments. The installment feature can be availed for a period of 3, 6 and 9 months according to the requirements of the customer. The tie up is being enhanced and more and more merchants shall be added in future.”
The Chairman rolled out Bharat Bill Payment System (BBPS), which shall go a long way to boost the confidence of customers vis-a-vis transaction convenience, security, reliability, accessibility and affordability. Through BBPS the payments can be made for pre-paid bills, post-paid bills, utility bills and DTH recharge.
He said, “At least in J&K, we must take lead in creating innovative digital products and services. And while we march ahead, we must understand that introspection is the best tool to make one’s march more sustainable and futuristic, as it allows the space and scope for bridging the gaps along one’s journey ahead.”
Pointing towards the young officers of the various departments involved in the development and promotion of the products, he said, “You should work hard and smartly to create, innovate products in the spirit of providing best services to the people of J&K. And the commitment to do that comes from a sense of ownership, which you must have to be pro-active in facilitating the people while keeping in focus the cherished objectives of the bank.”
“It is this sense of ownership that has always transformed our job as bankers into a committed mission to empower every individual of the state, finance every business and every sector of the economy besides remaining at the forefront of preserving the socio-cultural heritage of the state”, he added.