J&K Bank, Govt sign MoU for timely pension reimbursements

Srinagar, Sep 29: J&K Bank today entered into a Memorandum of Understanding (MoU) with the Government of Jammu & Kashmir to ensure timely reimbursement of pension claims submitted by 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 signature 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.

Notably, such formalised mechanisms reaffirm the Bank’s resolve to deliver efficient government banking services with focus on seamless execution of pension reimbursements.

The renewed arrangement is expected to bring greater efficiency, ease, and assurance to both the Government and pensioners, reflecting Bank’s role as a trusted partner in public service delivery through citizen-friendly banking services.