J&K Bank launches Gold Loan

Srinagar: Our larger mission continues to be the financial empowerment of every individual and every section of the society. Since women play the most important role in the overall existence of mankind, the need to financially empower women, who are otherwise richly endowed by providence, is very vital. For their financial empowerment would ensure the growth of other sections of the society as well. And it is precisely the reason to choose our Ladies Branch for the launch of our gold loan product, i.e. J&K Bank Loan against Gold Ornaments and Jewelry.
J&K Bank Chairman and CEO Parvez Ahmed made these remarks soon after unveiling the bank’s gold loan at an impressive function eliciting applause and elation from the valuable women customers at the bank’s exclusive business unit for women here at Jawahar Nagar.
“Let me admit that we may have been quite late in coming up with this product but, as typical of our bank, it is the product with the best of features suited to the needs and tastes of our targeted audience having a lower rate of interest, annual renewal facility and maximum quantum of finance available across the industry”, he added.
The product, he said, would help our customers to explore and realise the potential of their gold ornaments and other jewelry, otherwise kept idle.
Earlier, Chairman Parvez Ahmed unveiled the gold loan in presence of Executive Presidents P K Tickoo, R K Chhibber and Abdul Rashid Sheigan, President Arun Gandotra, Zonal Head Kashmir Central (I) Tabassum Nazir, Cluster Head, Head Ladies Branch and other officers of the bank.
On the occasion, Chairman had a healthy interaction with the women customers of the business unit, wherein he assured the audience that their concerns and questions form the most important part of the bank’s feedback process.
“It is your feedback and concerns that keep shaping our policies and products for better. And my top management is here to see to it that the product is refined to make it as competitive as it can get and shall also improve upon the services provided to non-resident customers”
Commenting on the occasion, a prominent woman journalist working with international media praised the bank for its services saying, “Earlier I had shifted to a leading private bank for a while but then soon realized and returned back to my J&K Bank. For it takes care of my interests besides providing highly personalized services.”
She also suggested that the bank should come up with a product that takes care of the growing health-related needs of working women, upon which Chairman directed the concerned President to look into the matter and explore the possibilities of devising a product around the suggestion put forth.
“J&K Bank is rendering unmatched financial services in the horticulture finance. Thanks to the effective intervention of J&K Bank in the sector that has enabled and encouraged many women orchardists to come to fore”, commented a young working woman during the interactions post Gold Loan launch.
“In a recent international conference in the Netherlands, I highlighted your role in the fruit economy of the state which was appreciated by the banks and other participating agencies. Even the agricultural bank RABO Bank headquartered in the Netherlands with a network in Europe appreciated the role of J&K Bank and felt inclined to visit this place and learn more about J&K Bank’s business model”, she said.
Earlier, in his inaugural address, President Arun Gandotra said, “Gold is considered as an auspicious product in our society and it is estimated that 11 percent of gold worldwide is held by women in India. Although being emotionally attached to this precious metal, it can also prove to be a good friend by making available a new avenue of loan facility against pledge of the gold.”
Zonal Head Kashmir Central (I), Tabassum Nazir concluded the event by presenting the vote of thanks.