Waqf Board executes MoU with HDFC Bank for e-Rentals & e-Donations

Srinagar: A significant reformative initiative has been taken by the J&K Waqf Board to streamline its revenues accruing from it’s commercial assets. A Memorandum of Understanding to switch over to online mode of rent and donation collection was executed today between J&K Waqf Board & HDFC Bank in presence of Waqf Board Chairperson (Minister of State, J&K) Dr Syed Darakhshan Andrabi, & Branch Banking Head North (Senior Executive Vice President HDFC) Mr. Arun Mediratta, at Sonwar Srinagar here on Thursday.
According to a statement issued here, the MoU is aimed at bringing all the Waqf property users on online platform so that rentals from all commercial assets are received on time through easy-to-use online facility without involvement of Waqf field staff. Simultaneously, HDFC shall put in place e-donations facility through Payment gateways on J&K Waqf Board Website.
Speaking on the occasion, Dr Andrabi highlighted the targets achieved viz-a-viz rent collection & resolution of property disputes in the interest of Waqf revenues over the last one year. The Waqf Chairperson also reiterated the commitment of J&K Waqf Board for mobilisation of donations from the rest of the country and abroad for funding of Health & Education Sector initiatives of Waqf in J&K. On the spot, Dr Andrabi handed over a cheque worth One Crore to the HDFC authorities to mark the beginning of business partnership with HDFC Bank.