News

J&Ok Financial institution waives leases on POS terminals

Srinagar,
Feb 3: 
J&K Bank has waived rentals on its Point of Sale (POS)
terminals installed in the UT of J&K from August, 2019 to January 2020.

The
concession will be passed on to POS terminals (both GPRS and MPOS devices)
having no transactions during the aforementioned period. The move has come as a
goodwill gesture from the premier financial institution and aims to give
impetus to cashless payments in the region.      

“Understanding
the difficulties faced by the business establishments in J&K, the bank has
decided to provide relief to the subscribers of POS machines who could not
carry out transactions during this particular period,” the bank’s Chairman and
Managing Director Rajesh Kumar Chhibber said.

He
also said that the sharp rise in bank’s fast and safe digital payments, has
been possible only through a proactive digital policy of the bank that
envisages 100 percent digital transactions, in the next couple of years.

Pertinently,
the bank had earlier featured among the top three positions in achieving
targets in digital payment transactions as per Ministry of Electronics and
Information Technology’s (MeitY) “Digidhan Dashboard”- a platform for accurate
reporting, monitoring and analysis of all digital payments transactions
occurring in the country.

Read Full Coverage on: The Kashmir Monitor.
©2019 The Kashmir Monitor

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