J&K Bank Jumps to 4th Place in Digital Transactions

JK Bank Headquarters in Srinagar (File Photo: Abid Bhat / KO)

Srinagar: J&K Bank has scaled to number four position among all the banks in India in achieving targets in digital payment transactions up to July 14 of the current financial year surpassing many other top players in the market. The bank has shown strong digital footprints in continuation of its mission towards helping the ‘Digital India’ mission.

The data available from ‘DigiDhan Dashboard’ platform of Ministry of Electronics and Information Technology (MeitY), Government of India (GoI) reveals that the bank has captured 1.83 crore digital payment transactions in the first quarter of the current financial year.

Commenting on this feat, J&K Bank Chairman and Managing Director, Rajesh Kumar Chhibber said, “In line with our envisioned path and expected objectives, we are in sync with the larger national vision of digital transformation as the initiatives taken in the direction of digitalization have started to give perceptible results.”

Notably, the bank has put in place robust technological infrastructure and digital banking platform which offers mobile banking facilities through Mpay , e-Banking, Unified Payment Interface(UPI), Point of Sale (PoS) terminals, credit/debit cards, mobile wallets etc. for increased convenience of customers and greater transactional security.

“It is heartening to note that pursuing an national annual target of 8 crore digital transactions for the financial year 2020-21, the bank is well on track to achieve the said objective”, the Chairman and MD added.

Pertinently, to monitor the growth of digital payments, MeitY has developed ‘Digidhan Dashboard’, a platform for accurate reporting, monitoring and analysis of all digital payments transactions occurring in India.

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