JK Bank signs MOU with Jammu Central University 


J&K Bank on Monday signed multiple Memoranda of Understanding with Central University of Jammu in presence of Parvez Ahmed, Chairman and CEO JK Bank and Vice Chancellor Central University of Jammu Professor Ashok Aima, who also laid the foundation stone for construction of bank’s own building for housing a Business Unit and Digital Lounge within the Central University of Jammu.

The spokesman said that Dr Ravi Kumar Registrar, Professor Devanand, Professor Brij Mohan, Faculty members and administrative team of Central University and senior officers of JK Bank were present on the occasion.  As part of MoU, Bank conferred the most favoured client status to the employees of the Central University of Jammu which will entitle the employees of the central University for availing multitude of benefits and privileges exclusive to them.

JK Bank signs MOU with Jammummu Central University

After signing of the MOUs and while handing over the letter of allotment of land to the Chairman JK Bank, Vice Chancellor, CUJ, Professor Aima said, “This is an era of collaboration and synergies which are required to be harnessed for the betterment of society. The leadership of the Bank had taken the step for a strong industry-academia partnership by launching the multi-utility Co-branded Campus card last year and by signing MOUs for Preferred Customer Status which amongst other benefits makes the employees eligible for the coveted Phone Pe Loan product of the Bank, the relationship has been taken to the next level.

She said that setting up a full fledged Business unit and Digital Lounge of the Bank in the Central University of Jammu paves the way for cross pollination of ideas between the students and leading financial institution of the J&K state. Financial support to the Business Incubation centre of the University speaks volume about the commitment of the Bank in fostering an entrepreneurial culture in the state for the educated youth.

Earlier Dr Ravi Kumar Registrar during his welcome address appreciated the services of the Bank  in enabling the digital initiatives of the Central University by providing the Co Branded Multi Utility Campus card free of cost to all the students of the university which is now being integrated with the library services to automate the library. He also lauded the vision and leadership of the Chairman and CEO JK bank Parvez Ahmed for his solicitous partnerships with the academic institutions.

Speaking on the occasion, Chairman JK Bank Parvez Ahmed said, “We have taken a very positive step together towards the establishment of a dedicated Business Unit within the premises of CUJ having state of the art banking facilities with an amphitheater, seminar room, Wi Fi Zone, cafe, and Book Wall. The University administration under the leadership of Professor Ashok Aima has been very supportive towards this benefit move to the staff and students of the University. I am very happy to enter into a MoU with CUJ as our most favored client which brings with itself a wide range of benefits exclusive to the employees.  There is much more on the offering for which we will extend support and counseling to the employees through Financial Literacy Camps at various centers of the University.”

Speaking about the Phone Pe Loan service, Parvez Ahmed said that they have been revolutionizing the service delivery through our digital products and through Phone pe Loan, we are offering quick Loan facility to our client CUJ with least processing time and most importantly doing away with the in-person visit to Business Unit for any documentation. Any pressing financial requirement of the employees will be fulfilled at the click of a button”

The Chairman further added that during multitude interactions with Professor Aima, we came to understand his vision to convert CUJ into an abode of innovation and entrepreneurial ventures. J&K Bank’s vision is strongly in alignment with this endeavor to foster entrepreneurship in our state. Our commitment to strengthening such initiatives is very strong and it is through this resolve that we are extending full support to University Business Incubation Centre for nurturing innovation in local resource endowments thereby helping income and employment generation in our state. I am happy to announce that we will provide financial support of rupees seven lakh annually to CUJ We commend Prof. Aima’s thought behind UBIC to strengthen the grassroots technological innovation for preserving the traditional knowledge of our state.

Later in the day, Parvez Ahmed inaugurated the Automated Library Unit of CUJ which is a joint collaboration of the University and JK Bank’s RFID enabled campus card integrated for library access. Both the organizations have in the past come together for various CSR initiatives. Earlier in the year, Bank dedicated an ambulance to the Central University of Jammu for the benefit of the students. Bank has also committed to sponsoring Gold Medals to the meritorious all-around academic performers of the CUJ in periodic Annual Convocation sessions of CUJ. The Bank officials present also informed that the Bank is looking forward to emulating the same industry-academia partnership and offer customized services and facilities in other prospective universities and educational institutions who want to enter into such exclusive collaborations with JK Bank, across the state.


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