Excelsior Correspondent
JAMMU, Aug 18: The Citizens’ Cooperative Bank Ltd. (CCBL) Jammu today launched the much awaited RuPay Debit Card.
The CCBL has been cooperated by another leading financial institution of the State, Jammu and Kashmir Bank Ltd. (JKBL) in sponsoring the ATM services.
The services (ATM) were formally launched by Administrator of the CCBL, Additional Deputy Commissioner (ADC), Jammu, Dr Arun Manhas in presence of. Rakesh Maini, Vice President Jammu & Kashmir Bank. and member on the Board of Administrators of CCBL. With the introduction of RuPay Debit Card, the Administrator has fulfilled his promise of strengthening the bank.
Initially the Bank will perform pilot transactions at ATMs for a couple of days and thereafter RuPay Debit Cards will be issued to clients of the Bank. In order to perform pilot transactions, 15 ATM RuPay Debit Cards have been issued to staff of the Bank.
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“The JKBL sponsored the CCBL as its sub-member to participate in National Financial Switch (NFS). An agreement to this effect signed in Corporate Headquarter of J&K Bank at Srinagar between JKBL and CCBL on March nine, 2017 under the scheme of Sponsoring Cooperative Banks for NFS and ATM services through ASP Model. This will enable the customers of the CCBL to access e-payment instruments like RuPay Debits at POS terminals and e-commerce platform besides facilitating affordable payment mechanism to benefit the common man and help financial inclusion,” said Dr Arun Manhas while speaking on the occasion.
He further said that this step would way forward to fulfill Reserve Bank of India (RBI) vision to offer a domestic, open-loop, multilateral system which will allow the Bank to participate in electronic payments thereby ensuring access to appropriate financial products and services needed by all sections of society in general with special focus on vulnerable groups such as weaker sections and low-income groups at an affordable cost in a fair and transparent manner.
Besides the senior officers of the Bank, the event was attended by Managing Director of CCBL, Ashok Goswamy.
The Bank has launched various schemes as per requirements of the clients in the recent past, especially during the brief tenure of the Government appointed Administrator, to cater to the needs of weaker section of society.
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