Srinagar, Jan 29: Jammu and Kashmir State Co-operative Bank today launched 21st ATM for the people of Narbal here in Central Kashmir’s Budgam district.
The ATM was dedicated to the people of Narbal by Secretary Co-operatives, Abdul Majeed Bhat in presence of chairman of the bank M.S. Dar, Managing Director M. Lateif and several senior officers.
Speaking on the occasion, Bhat while applauding the role of state cooperative bank, stressed upon the need to bring banking services to the door steps of the rural populace.
He said it is only through technology adoption that co-operative banks will remain viable and relevant.
He expressed his satisfaction on the role played by State Cooperative Bank in modernising its structure to keep pace with the fast changing financial environment.
While speaking on the occasion, M.S. Dar said that the demand to open an ATM at Narbal was raised several times by the respected citizens of the area. He stressed that the State Cooperative Bank is morally bound to serve rural masses and unbanked arrears.
He said that the Cooperatives are the backbone of the rural credit structure due to their many inherent characteristics, strengthening this structure is therefore a prerequisite, if the credit requirements of the rural populace are to be properly addressed.
He informed the Secretary that the Bank is aggressively undertaking expansion of network as well as introduction of technology based products. He further informed the Secretary that the Bank has already started the process to introduce internet and mobile banking facilities.