J&K Bank, Govt Sign Mou For Timely Pension Payments

Srinagar- J&K Bank Monday entered into a Memorandum of Understanding (MoU) with the Government of Jammu & Kashmir to ensure timely reimbursement of pension claims submitted by the Bank.

According to the bank, the fresh mechanism under the MoU is designed to facilitate smooth and seamless settlement of pension claims, eliminate accumulation of pending cases, and further streamline the pension disbursement process including those pertaining to municipal and local bodies across Jammu and Kashmir.

Principal Secretary (Finance Department, J&K) Santosh D. Vaidya presided over the signing ceremony, wherein Director General, Accounts & Treasuries (DGAT) Fayaz Ahmad Lone signed the MoU on behalf of J&K Government while General Manager (Government Banking) Ashutosh Sareen put in his signatures representing the Bank.
Bank's DGM (Government Banking) Manju Gupta, In-charge (Government Banking) Mushtaq Ahmad Bayroo and Branch Head (Moving Secretariat) Dheeraj Sharma besides AAO (Finance Department) Majid Mohiuddin Dar were also present at the event.

“Such formalized mechanisms reaffirm the Bank's resolve to deliver efficient government banking services with focus on seamless execution of pension reimbursements,” a spokesperson for J&K Bank said.

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