Onlykashmir.in News Desk
Srinagar, May 07: J&K Bank and J&K Police on Wednesday signed an addendum to their Memorandum of Understanding (MoU) at Police Headquarters, Peerbagh, further strengthening welfare and financial security measures for police personnel and Special Police Officers (SPOs).
The addendum was signed by Director General of Police Nalin Prabhat and J&K Bank MD & CEO Amitava Chatterjee in the presence of Special DG Syed Javaid Mujtaba Gillani, ADGP Hqrs. Manish K Sinha, Bank Chief General Manager Ashutosh Sareen, General Manager Rakesh Magotra and senior officers of both institutions.
Under the revised MoU, J&K Bank has expanded insurance, financial security and welfare benefits for police personnel and SPOs, while continuing exclusive banking facilities and concessional financial services.
The enhanced package includes death in action cover, loan linked protection, higher education support for children, girl child marriage assistance, air ambulance support, transportation of imported medicines, family transportation and repatriation assistance, besides enhanced ex gratia relief for martyrs and personnel disabled in terror or law and order incidents.
The MoU also retains benefits such as zero balance salary accounts, free digital banking services, concessional loans, waiver of processing charges, overdraft facilities, instant loan disbursal and concessional locker facilities.
Speaking on the occasion, Amitava Chatterjee said the partnership reflected the Bank’s commitment towards the welfare, dignity and financial security of J&K Police personnel and their families. DGP Nalin Prabhat appreciated the Bank’s support, saying the initiative would strengthen financial stability and welfare systems for police personnel and families of martyrs.
ADGP Manish K Sinha termed the collaboration a step towards reinforcing the welfare ecosystem for personnel who have contributed towards peace and stability in Jammu and Kashmir. Earlier, General Manager Rakesh Magotra presented the Bank’s enhanced welfare framework, while the function concluded with a vote of thanks by DIG Hqrs J S Johar.
