FADA Jammu interacts with lead banks of J&K

Jammu, Sep 8: Federation of Automobile Dealers Associations (FADA) Jammu Monday organised a key interaction with the lead banks of J&K.

The banks which participated in the interaction were J&K Bank, Punjab National Bank, State bank of India and J&K Gramin Bank.

Ashok Gupta, General Manager J&K Bank, Anil Sharma, Circle Head PNB, Jayant Mani, DGM SBI and Sanjay Gupta chairman J&K Grameen Bank were the key speakers of the interaction.

Sanjay Aggarwal, chairperson FADA Jammu said, “As the automotive industry continues to evolve, the importance of robust and effective partnerships between automobile dealers and financial institutions has never been greater.”

He said that the main aim of this interaction was to explore new opportunities, address existing challenges and to discuss strategies for enhancing business relationships and ‘ease of doing business’ between automobile dealerships and financial institutions.

The interaction ventured around exploring new avenues for partnership in auto financing and customer servicing; addressing existing pain points such as loan disbursal delays, documentation bottlenecks and turnaround time; promoting digitization and automation in finance processes to enhance efficiency; streamlining customer experiences at both dealership and bank levels and strengthening compliance practices while ensuring business growth.

FADA suggested that the banks should explore more opportunities for providing its products to auto industry like POS Machines, Corporate Credit Cards, Inventory Funding, Trade Advance, Demo Car funding, opening employees’ salary accounts and much more.