Outages Apart, JK Bank Dispensed Rs 1082 Crore In 36 Hours

SRINAGAR: Despite intermittent outages, JK Bank’s digital and alternate channels have recorded 20 lakh transactions involving disbursal of Rs 1082 crores in the last 36 hours, a spokesman of the bank said.

As per the data, JK Bank’s mPay alone has processed over 6.12 Lac successful transactions since Saturday morning till Sunday at 12.30 pm resulting in the transfer of money amounting to Rs 555.25 crores.

Technology has completely taken over and now the cell phone is almost a bank and a wallet. That is perhaps why the financial institutions must be highly sensitive towards the apps they produce and ask people to use. This photograph taken by a Kashmir Life scribe on Friday, April 30, evening shows a vendor selling phereni for Iftaar. He would accept the payments digitally. Imagine, if the app does not operate. What will be the consequences for this young man?

The ATMs have also witnessed huge customer footfall throughout Saturday and Sunday morning dispensing Rs 326.21 crores of cash in over 4.39 Lac successful transactions.

Under the Bank’s UPI services, payments amounting to Rs 182.65 Cr was made in 7.81 Lac transactions, while, an amount of Rs 23.40 crore has been transacted in purchases through PoS and e-Commerce channels of the Bank during the period in over 2.24 Lac successful transactions.

The data excludes the digital payment transactions made through NEFT and RTGS modes.

“While we feel delighted in having successfully served lakhs of our esteemed customers ahead of this auspicious Eid occasion, we equally feel pained for having not been able to come up to the expectations of a section of our valuable customers, who experienced failed transactions or time-outs due to unprecedented high usage of the digital channels,” the spokesman quoted Bank’s President IT saying. “Although the services have been restored by our dedicated team of IT professionals working overnight to resolve the issue, however, we feel duty-bound to regret deeply the inconvenience the outages have caused to many of our customers.”

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