J&K Bank signs general loan agreement with NMDFC to empower minority communities

Srinagar, July 19: As part of the initiatives aimed at empowering minority communities across the country, J&K Bank has entered into an agreement with National Minority Development and Finance Corporation (NMDFC), a Government of India undertaking.

The signing ceremony was held on Thursday at Delhi Haat during the inaugural function of ‘Lok Samvardhan Parv’ chaired by the Union Minister for Minority and Parliamentary Affairs, Kiren Rijiju. The Bank’s General Manager & Divisional Head (RoI) Rajesh Gupta signed the general loan agreement along with the representative of NMDFC at the high profile event that was organized to showcase the schemes, programs and achievements of the Ministry of Minority Affairs.

While expressing his pleasure on the development, MD & CEO Baldev Prakash said, "We are very pleased to have signed the agreement with NMDFC, which has been working proactively for the economic well-being of the minority sections across the country. The execution of this loan agreement marks a significant step towards enhancing the economic empowerment of minority sections in our society.”

“Through this partnership with NMDFC, we have further strengthened our commitment to provide accessible and affordable financial services to support the educational and entrepreneurial aspirations of minority communities. We believe this initiative will help in achieving the national goal of inclusive growth while contributing to the overall socio-economic development of the country", he added.

Notably, the agreement will enable the Bank to extend concessional loans and other financial services to minority beneficiaries, supporting their self-employment projects, small businesses besides educational pursuits.