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A DETAILED PROJECT REPORT ON ''Digital Banking'',PROVIDED BY J&K BANK .

IN PARTIAL FULFILLMENT FOR THE AWARD OF DEGREE IN, ''Masters of
Business Administration(MBA)'' SUBMITTED BY:...

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 A DETAILED PROJECT REPORT ON

‘’Digital Banking’’,PROVIDED BY J&K BANK .

IN PARTIAL FULFILLMENT FOR THE AWARD OF DEGREE IN,

‘’Masters of Business Administration(MBA)’’

SUBMITTED BY:-

NAME :-MOHD IRFAN WANI

REGISTRATION NO:-3159-SME-2014
Enrollment No.:-22036113016
Batch:-2022
UNDER THE GUIDANCE OF:-
“MR.IRFAN YOUSUF MIR’’(DIGITAL MANAGER),J&K BANK BRANCH
HYDERBEIGH PATTAN

SUBMITTED TO:-

‘’DEPARTMENT OF MANAGEMENT STUDIES SOUTH CAMPUS

UNIVERSITY OF KASHMIR.
 DECLARATION
I do hereby declare that “Digital Banking PROVIDED BY

J&K BANK” is the sole result of the project work carried

out by MOHD IRFAN WANI under the guidance of Mr.Irfan

Yousuf Mir (Digital Manager), JK BANK Hyderbeigh in

partial fulfillment of the requirements for the award of

Masters degree in Business Administration (MBA) for the

academic year 2022-2024. All the data written in this

project is true and correct to the best of my knowledge.

I also hereby declare that this project report is my own

preparation and not copied from somewhere else.

Signature:
 ACKNOWLEDGEMENT

First of all,I would like to thank Almighty Allah with immense

regards and respect in the honour of the J&K BANK. I am very

grateful towards this esteemed organization for assisting me in

completion of my internship.Today J&K BANK stands for its brand

name in the hearts of the People of Jammu & Kashmir.It is also

among one of the leading and fastest growing banks in India.This

project is the outcome of sincere and pains taken by humble and

dignified people and it makes me feel proud to mention them.

Primarily I would like to express my deep sense of gratitude to

persons of extra ordinary importance,without them this project

would not have been completed .So I take this opportunity to

express my sincere and humble thanks to the entire staff of J&K-

BANK branch Hyderbeigh.I am also grateful towards my Guide

who with great dedication,taught and assisted me in every aspect
ranging from corporate culture to very basics of my project.

With Regards,

Mohd Irfan Wani

 About the J&K Bank Branch Hyderbeigh Pattan

The Hyderbeigh Pattan Branch of Jammu and Kashmir Bank lies

adjacent to the Srinagar-Baramulla National Highway in the town

of Hyderbeigh Pattan.The Branch serves to the adjacent areas of

the local community and villages.Located at a distance of

approximately 4kms from Pattan and 40 kms from srinagar

City,the bank provides various services to its customers.The

various informative details of the Bank Branch Hyderbeigh are

provided below;

Branch Name:- Hyderbeigh Pattan

Bank Name:- Jammu and Kashmir Bank

IFSC Code:- JAKA0HBEIGH

Branch MICR Code:- 193051020

District:- Baramulla
State:- Jammu and Kashmir

Address :- HyderBeigh,Baramulla

Email ID : Jakaneft@jkbmail.com

Branch Timings:- 10:00AM to 04:00PM

Bank Website:- Jkbank.net

Bank Customer Care No:- 1800 890 2122, 0194-2481999

Bank Toll Free No:- 18001807026

Bank Fax :- 0194-2481902

Head Office:- MA Road Srinagar 190 001 Jammu & Kashmir

Below given pictures shows some of the inside views of the

branch.:-
 Word of Thanks

Firstly I would like to thank the Almighty Allah, the most

benevolent and sustainer.Secondly, I would like to thank

my Parents,especially my Mother,who has always

supported me and my Father whose words of wisdom has

helped me and guided me at every step.My thanks goes to

Jammu and Kashmir Bank Hyderbeigh Pattan,employees

who helped me and Guided me at every step of this

project work.Special thanks are to Mr.Mohd Amin

Puktha,Branch Head of the Bank.

Despite lot of care was taken while writing this project,

still there might have erupted some mistakes,kindly

pardon me.I hope this project work will also help the
students and other people who would like to gain all

knowledge about the topic,Digital Banking.Thanks!

 INTRODUCTION

Since without the Internship the study of Master of Business

Administration (MBA) remains incomplete.One has to sharpen the

edge of theoretical knowledge through practical experience in

true business dynamics sense. The present report, “Digital

Banking”,reflects an image of what I done and observed during

the course of practical training programmed.Working with

“Jammu and Kashmir Bank” was simply mesmerizing.It was an

awesome experience besides the training they provided to

me.Gone are the days when people have to visit long distance to

J&K Bank for Paper work,money transfer,Balance Checking and

much more services.The launch of “Digital Banking”, by Jammu

and Kashmir Bank has helped a lot of Bank customers to do these

things at ease at their fingertips.The launch of services

like,mpay,mpay degital+,Atm card services for money

withdrawl,Adhaar Based transactions,Mobile Banking has helped

J&K Bank customers a lot.It has become like a ‘’spoon-feeding’’

for them.This project is an attempt to provide and give extensive

information about the, “Digital Banking’’, services provided by

Jammu and Kashmir Bank

Though the ‘’Digital Banking”, services provided by Jammu and

Kashmir Bank like other Bank has helped its customers a lot.It still

has to go a long way,as still various people are not aware of what

exactly is Digital Banking.We have to give them information, teach

them and help them in getting these services.At last I welcome

the good or bad comments about this project work carried out by

me.It will help me to do much better in future as well.Your

comments and suggestions are welcome.

 List of Contents

Chapter No. Topics Page No.

Executive Summary .. .....12

• Introduction Of Banking ...... 13

• History of Banking ... 17
❖ Chapter (1) • History of Banking in india ..... . 19
• Banking system in india ... 21
..... 23
• About J&K Bank

• Introduction to Digital Banking ... .. 39

• Different types of Digital Banking .. ... 43
services provided by J&K Bank
• Credit Cards and Debit Cards ....... 44
• SMS Alert Services ...... 60
• Accounts Updation by J&K Bank ..... 64
• Instant Bill Payments ... 71
• Money Deposit Machines ...... ... 73
• Mpay Applications .... 76
• Easy Collect ...... 80
• Adhaar Bank seeding by J&K ...... 86
❖ CHAPTER (2) Bank
• WhatsApp Banking ...... 92

• Response of J&K-BANK ....... 96

Customers to Digital Banking
• Glitches in Digital Banking ...... ..... 99

❖ CHAPTER(3) • Steps needed for its reformation ... ...... 104

• Conclusion ........... 114
• Refrences .... ..... 116
 Executive Summary

This study was done at J&K Bank Hyderbeigh Pattan.The study

mainly discusses Digital Banking services provided by J&K

Bank.Under which there is a detailed explanation of different

Digital Banking services , secured services, principles of Digital

Banking and how to use these Digital Banking services.The next

part contains the introduction to banks, which includes the past,

present and future of J&K Bank. As banks play the most important

role in providing these services. Earlier the banks were engaged in

accepting and lending the money.But in the recent past the scope

of service provided by the banks has changed. The growing

competition requires prompt and efficient services to the

customers at reasonable time and cost. These day’s Banks aim to

provide maximum satisfaction and quick service to their

customers.The last part mainly discusses J&K Bank Customer

satisfaction to these Services and problems they have faced in

using these services. The study is confined to assess the Different

Banking services provided by J&K Bank.Not only the Digital

Banking Services,but also analyses the response of J&K-BANK

Customers to Digital Banking. The study is related to the role

played by the J&K Bank Ltd in providing Digital Banking services

to its customer community.The final discusses the conclusive

remarks what J&K Bank has done and how far it has to go in

future.

INTRODUCTION OF BANKING SECTOR

What is bank? Finance is the life blood of trade, commerce and

industry. Now a day, banking sector acts a backbone of the

modern business. Development of any country mainly depends

upon the banking system. The term bank is either derived from

Old Italian word BANACA or from French word BANQUE both

means a BENCH or MONEY EXCHANGE TABLE. In olden days,

European money lenders or money changers used to display

(show) coins of different countries in big heaps (quantity) on

benches or tables for the purpose of lending or exchanging. A

bank is a financial institution which deals with deposits and

advances and other related services.it receives money from those

who want to save in the forms of deposits and it lends money to

those who need it. In short, bank is an “establishment for custody

of money, which it pays out on customer demand”.

Features of a bank:-

1. Dealing in money Bank is a financial institution which deals

with other people‟s money i.e. money given by depositors.

2. Individual/ Firm /Company A bank may be a person, firm or a

company. A banking company means a company

3. Acceptance of deposits A bank accepts money from the people

in the form of deposits which are usually repayable on demand or

after the expiry of a fixed period. It gives safety to the deposits of

its customers. It also acts as a custodian of funds of its customers.

4. Giving advances A bank lends out money in the form of loans

to those who require it for different purposes.

5. Payment and withdrawal A bank provides easy payment and

withdrawal facility to its customers in the form of cheques and

drafts. It also brings back money in circulation. This money is in

the form of cheques, drafts, etc.

6. Agency and utility services A bank provides various banking

facilities to its customers. They include general utility services and

agency services.
7. Profit and service orientation A bank is a profit seeking

institution having service oriented approach.

8. Ever increasing function Banking is an evolutionary concept.

There is continuous expansion and diversification as regards the

functions, services and activities of a bank.

9. Connecting link A bank acts as a connecting link between

borrowers and lenders of money. Banks collects money from

those who have surplus money and give the same to those who

are in need of money. 10. Banking business A banks main activity

should be to do business of banking which should be subsidiary

to any other business.

11. Name A bank should always add the word “bank” to its name

to enable people to know that bank and that it is dealing in

money.
 HISTORY OF BANKING

The history of banking begins with the first prototype banks of

merchants of the ancient world, which made grain loans to

farmers and traders who carried goods between cities. This began

around 2000 BC in Assyria and Babylonia. Later, in ancient Greece

and during the Roman Empire, lenders based in temples made

loans and added two important innovations: they accepted

deposits and changed money. Archaeology from this period in

ancient china and the India also shows evidences of money

lending activity. Banking, in the modern sense of the world, can be

traced to medieval and early Renaissances Italy, to the rich cities

in the north such as Florence, Venice, and Genoa. The Bardi and

Peruzzi families dominated banking in 14th century Florence,

establishing branches in many other parts of the Europe. Perhaps

the most famous Italian bank was the Medici bank, established by
Giovanni Medici in 1397. The oldest bank still in existence in

Monte Dei Paschi di Siena, headquarters in Siena, Italy, which has

been operating continuously since 1472. The development of

banking spread from the northern Italy throughout the Holy

Roman Empire, and in the 15th and 16th century to the northern

Europe. This was followed by a number of important innovations

that took place in Amsterdam during the Dutch Republic in the

17th century, and in London in the 18th century. During the 20th

century, developments in telecommunications and computing

caused major changes to bank‟s operations and let the banks

dramatically increase in size and geographically spread. The

financial cricis of 2007-2008 caused many bank failures, including

some of the World‟s largest banks, and provoked much debate

about bank regulation. THE BOTTOM LINE Banks have come a

long way from the temples of the ancient world, but their basic
business practices have not changed. Banks issue credit to those

who need it, but demand interest on top of the repayment of the

loan. Although history has altered the fine points of the business

model, a bank‟s purpose is to make loans and protect depositor‟s

money. Even if the future takes banks completely off your street

corner and onto the internet, or has you shopping for loans across

the globe, the banks still exist to perform its primary functions.

HISTORY OF BANKING IN INDIA

Immediately after the independence, the partition of India in

1947 adversely impacted the economies of Punjab and West

Bengal by paralyzing banking activities for months. With end of

British rule in India marked the end of a regime of the laissez-faire

for the Indian banking sector. The government of India initiated

measures to play an active role in the economic life of the nation,

and the Industrial Policy Resolution adopted by the government in

1948 envisaged a mixed economy. To streamline the functioning

and activities of commercial banks, the government of India came

up with the Banking Companies Act 1949. The Reserve Bank of

India, Indians central banking authority, was nationalized on

January 1, 1949 under the terms of the Reserve Bank of India

(Transfer to Public Ownership) Act, 1948. The Reserve Bank of

India was vested with major powers of the supervision of banking

in India as the central banking authority. The Banking Regulation

Act also provided that no new branch of an existing bank could

opened without license from the RBI, and no two banks could

have common directors. During those days, the general public

had lesser confidence in Banking. As an aftermath, the deposit

mobilization process was very slow. Moreover, the saving bank

facility provided by postal department was considered

comparatively safer than banks, and funds were largely given to

traders.

THE BANKING SYSTEM IN INDIA

Banking in India originated in the 18th century. The oldest bank in

existence in India is the State Bank of India, a government-owned

bank in 1806. SBI is the largest commercial bank in the country.

After the independence, Reserve Bank of India was nationalized

and given wide powers. Currently, India has scheduled commercial

banks, 27 public sector banks, 31 private banks and 38 foreign

banks Today, banks have diversified their activities and are getting

into new products and services that include opportunities in;

Credit cards Consumer finance Wealth management Life

and general insurance Investment banking Mutual fund

Pension funds regulation Stock broking services, etc. Further

most of the leading Indian banks are going global, setting up

offices in foreign Countries, by themselves or through

subsidiaries. The Indian banking system has a large geographical

and financial coverage. Presently the total asset size of the Indian

banking sector is US$ 270 billion with a branch network exceeding

66,000 branches across the country. Revenues of the banking

sector have grown at 6 per CAGR over the past few years to reach

a size of US$ 15 billion. While commercial banks cater to short

and medium finance requirements, national level and state level

financial institutions meet longer-term requirements. This

distinction is getting blurred with commercial banks extending

project finance. The total disbursement of the financial institutions

in 2001 were US$ 14 billion.

 About J&K Bank

HISTORY OF J&K BANK:- The Jammu & Kashmir Bank was

founded on October 1, 1938 under letters patent, issued by the

Maharaja of Jammu and Kashmir, Hari Singh. The Maharaja invited

eminent Kashmiri investors to become founding directors and

shareholders of the bank, the most notable of which were Abdul

Aziz Mantoo, Pesten Gee and the Bhaghat Family, all of whom

acquired major shareholdings. The Bank commenced business on

July 4, 1939 and was considered the first of its nature and

composition as a State owned bank in the country. The Bank was

established as a semi-State Bank with participation in capital by

State and the public under the control of State Government. The
bank had to face serious problems at the time of independence

when out of its total of ten branches two branches of

Muzaffarabad, Rawalakot and Mirpur fell to the other side of the
line of control (now Pakistan-administered Kashmir) along with

cash and other assets.

COMPANY PROFILE
Type Nationalised Bank

Traded as NSE: J&K BANK, BSE: 532209

Industry Banking, financial services

Founded 1 October 1938

Headquarters Srinagar, Jammu & Kashmir, India

Key people Baldev Prakash (CEO & MD)

Products mPay;

Debit cards, Credit cards;

Mortgage loans;

Corporate banking;

Retail banking;

Treasury;

Transport loan;
 Personal loan and insurance.

Parent Ministry of Finance, Govt. of India

Number of employees 12,307 (2021)

Branches/ offices 964 (2021)

Capital ratio 12Percent

Website www.jkbank.net

MANAGEMENT EXECUTIVES

Baldev Prakesh MD & CEO

Sudhir Gupta Executive Director

Ashutosh Sareen. General Manager

Narjay Gupta General Manager

Rakesh Koul General Manager

Peer Masood Maqbool General Manager

 Sunit Kumar General Manager

Syed Rais Maqbool General Manager

Shareesh Sharma General Manager

Sushil Kumar Gupta General Manager

Tabassum Nazir General Manager

Syed Shujaat Hussain General Manager

Pratik D Punjabi General Manager/CFO

 Registered Office & Corporate Headquarters J&K

Bank:-
 Brief profile:-

J&K Bank functions as a universal bank in Jammu & Kashmir and

as a specialized bank in the rest of the country. It is also the only

private sector bank designated as RBI‟s agent for banking

business, and carries out the banking business of the Central

Government, besides collecting central taxes for CBDT. J&K Bank

follows a two-legged business model whereby it seeks to increase

lending in its home state which results in higher margins despite

modest volumes, and at the same time, seeks to capture niche

lending opportunities on a pan-India basis to build volumes and

improve margins. J&K Bank operates on the principle of „socially

empowering banking‟ and seeks to deliver innovative financial

solutions for household, small and medium enterprises. The Bank,

incorporated in 1938, and is listed on the NSE and the BSE. It has

a track record of uninterrupted profits and dividends for four

decades. The J&K Bank is rated P1+, indicating the highest degree

of safety by Standard & Poor and CRISIL. J&K Bank has been

committed to all the basic tenets of good Corporate Governance

well before the Securities and Exchange Board of India and the

Stock Exchanges pursuant to Clause 49 of the Listing Agreement

mandated these. Now, it is our Endeavour to go beyond the letter

of the Corporate Governance codes and apply it innovatively in a

more meaningful manner thereby making it relevant to the

organization that is operating in a specific environment, which is

different from the generic Anglo-Saxon one. In line with the

vision, J&K Bank wants to use Corporate Governance innovatively

in a transitional economy like Jammu and Kashmir. The Bank

wants to use Corporate Governance as an instrument of economic

and social transformation. In due course, we would set our self-

targets of social and economic reporting as a part of annual

disclosures. This will help us conceptualize and contextualize the

form and content of Corporate Governance in a developing state.

Given the fact that J&K Bank is and is seen as a great success of”

public-private partnership”, our Bank as a business is expected to

play a role in social transformation of the economy. This lends

urgency to implementation of good governance practices which

go beyond the Corporate Governance code. Operating in an

environment that is emerging from a situation of civil strife, the

issue of Corporate Governance assumes a different and greater

relevance. We, as the prime corporation of Jammu and Kashmir,

have a vested interest in making the state a safe place for

business. J&K Bank has a key role to play in providing public and

private services, financial infrastructure and employment. As such,

the efficiency and accountability of the corporation is a matter of

both private and public interest, and governance, therefore,

comes at the top of the agenda. The fact that the bank is state

owned but professionally managed, having a large size of

international investors, governance is critical of our directors to

make J&K Bank an engine of social transformation. As an eminent

corporate jurist (Chancellor William T. Allen) from US says, “A

corporate director has civic responsibility. The people, who accept

this responsibility, do it conscientiously and well deserve our

respect as they are serving a nation. But those who as directors

are passive and view their role as mere advisers, are pliable and

pleasant but do not insist on a real monitor‟s role, do small

service to anyone and deserve little respect”. Our directors belong

to the former category. Vision tatement The Bank's vision is to be

financially sound, profitable, growth and technology oriented,

committed to building and maximizing sustainable value for all its

stakeholders. The Bank is committed to achieve healthy growth in

profitability and simultaneously to remain consistent with the

Bank's risk appetite and at the same time ensuring the highest

levels of ethical standards, professional integrity and regulatory

compliance. “To catalyze economic transformation and capitalize

on growth”. Our vision is to engender and catalyze economic

transformation of Jammu and Kashmir and capitalize from the

growth induced financial prosperity thus engineered. The bank

aspires to make Jammu and Kashmir the most prosperous state in

the country, by helping create a new financial architecture for the

J&K economy, at the center of which will be the J&K Bank.

Mission Statement The mission of the bank is two-fold: To provide

the people of J&K international quality financial service and

solutions and to be a super-specialist bank in the rest of the

country. The two together will make us the most profitable bank

in the country.
Unique Characteristics & Services of Jammu & Kashmir Bank Ltd.

J&K Bank carries out banking business of the Central Government

In spite of a government equity holding of 53 per cent, Jammu &

Kashmir Bank (J&K Bank) is regarded as a private sector bank.

J&K Bank is the one and only banker and lender of last resort to

the Government of J&K. Plan and non-plan funds, taxes and

non-tax revenues are routed through the J&K Bank.

J&K Bank claims the distinction of being the only private sector

bank that has been designated as agent of RBI for Banking.

The services of J&K Bank are utilized for the purposes of

disbursing the salaries of Government officials. J&K Bank collects

taxes pertaining to Central Board of Direct Taxes, in Jammu &

Kashmir support service Technology application has remained the

thrust area of the Bank for last many years with an objective to
offer state of the art world class banking facilities to its

customers.The Bank continued to leverage information

technology as a strategic tool for its business operations, to gain

competitive edge in customer service as well as improving

productivity and efficiency. The Bank‟s IT strategy emphasizes

enhanced level of customer services through 24x7availability,

multi-channel Banking and cost efficiency through optimal use of

electronic channels, wider market reach and opportunities for

cross-selling. The Bank‟s focus is on harnessing technology for

integrating diverse products and services. Keeping this in view, the

Bank continued to widen the scope of multiple delivery channels

such as ATM installations, Anywhere Banking, Internet Banking

and SMS Banking at more & more centers.

PRODUCTS AND SERVICES

➢ Saving bank deposits:-

➢ Deluxe saving account

➢ General saving account

➢ Deluxe salary account

➢ General salary account

➢ Term deposits:-

➢ Millennium Deposits Scheme

➢ Flexi Deposits Scheme

➢ Fixed Deposits Scheme

➢ Child Care Scheme

➢ Cash Certificates

➢ Upper Earner Deposits Scheme

➢ Recurring Deposits Scheme

➢ Recurring Plus Account

➢ Smart Saver Scheme

➢ Value added schemes:-

➢ Tax Saver Term Deposit Scheme

➢ Mehendi Deposit Scheme

➢ Daily Deposit Scheme

➢ Gift Cheque Scheme

➢ Current accounts:-

➢ Platinum Current Account

➢ Gold Current Account

➢ Premium Plus

➢ Current Account Premium Current Account

➢ Basic Current Account

➢ Loans:-

➢ Housing Loans

➢ Education Loan Scheme

➢ Car Loan Scheme

➢ Car Loan for Used Cars

➢ Commercial Vehicle Finance

➢ Commercial Vehicle Finance (Used Vehicles)

➢ Two Wheeler Finance

➢ Other finances:-

➢ Consumer Loan

➢ Consumption Loan

➢ Personal Loan to Pensioner Mortgage

➢ Loan for Trade and Service Sector

➢ Loans against Mortgage of Immovable Property

➢ Fair Price Shop Scheme

➢ Specialized Finances:-

➢ Help Tourism (For Kashmir Valley)

➢ All Purpose Agri Term Loans

➢ Fruit Advances scheme (Apple

➢ Zafran Finance
 ➢ Roshni Financing Scheme

➢ Craft Development Finance

➢ Dastak Finance

➢ Girl Finance Scheme

INTRODUCTION TO DIGITAL BANKING

What is Digital Banking?

Digital Banking means automating conventional banking through

digital platforms like the web and internet-enabled systems like

mobile devices. With Digital Banking, you can access almost all

financial services at the tip of your fingers, all year round,

irrespective of national or bank holidays. It entirely eliminates the

need for you to visit the bank.

Digital Banking – Features and Benefits:-

Compared to traditional banking, which requires you to visit the

bank for every big and small transaction, you can conduct digital

banking services from any corner of the world. Here are some of

its best features and benefits.

• Convenient remote banking platforms: You may access your

bank account digitally via internet banking or eponymous

mobile apps of the bank, that you download on your

smartphone to access your account anytime.

• Easy onboarding: You can now complete the account

opening and the subsequent KYC process online and

digitally via a video call. The Reserve Bank of India has

permitted banks to conduct a Video KYC to open a bank

account on par with a full KYC bank account.

• Speedy fund transfers: Digital Banking comes with a host of

online fund transfer provisions. You can transfer any sum of

money to any bank account in India via NEFT, IMPS, RTGS or

UPI or make overseas wire transfers.

• Time-saving auto-debit facility: You can recharge your

mobile and DTH subscriptions online and enable auto-

payment facilities, so you do not miss any payment. You can

also pay off outstanding credit card dues by setting up the

auto-debit facility.

• Faster utility bill payments: You can also consolidate all your

utility bills and set up billers instead of bothering with

physical bill payments by logging in on the internet or

mobile banking platforms of your bank to complete the

payments.
 • Quick investment solutions: You can easily open fixed and

recurring deposits, buy insurance, make investments or apply

for loans on digital banking platforms.

• 24x7 account tracking: You can check your account balances

and get mini statements. You can just as easily monitor your

transactions and sign up for SMS alerts and notifications

after every transaction by registering your mobile number

with the bank.

• Convenient online shopping facilities: You can pay for

expenses on online shopping websites via net banking or by

entering your debit card details like card number, expiration

date, and CVV and authenticating payments via OTP.

Final note:-

Digital banking is one of the most significant breakthroughs of

the banking institutions and financial sectors in India. Like all

online banking transactions, digital banking works only if you

have a secure and stable internet connection. While digital

banking is primarily secure, it is not risk-averse. As such, you must

not share your account login and password details with anyone.

Different types of Digital Banking services provided

by J&K Bank

Jammu and Kashmir has updated and launched a lot of Digital

Banking services to provide ease and comfort to all of its

customer community.

Jammu and Kashmir Bank, in comparison to other state and

national level Banks does not stop in providing the Best services

to its customers.Now you can enjoy the hassle free Banking

services provided by J&K Bank.Following are some of the Digital

Banking Services provided by J&K Bank.

➢ Debit card Credit Cards

 ➢ SMS Alert Services

➢ Accounts Updation

➢ Instant Bill Payments

➢ ATM Deposit Machines

➢ Mpay Banking Applications

➢ Easy Collect

➢ Adhaar Bank seeding

➢ WhatsApp Banking

➢ Debit and Credit Cards

INTRODUCTION TO CREDIT CARD

CREDIT CARD:-

A credit card is part of a system of payments named after the

small plastic card issued to the users of the system. It is a card

entitling its holder to buy goods and services based on the

holders promise to pay of these goods and services. The issuer of

the card grants a line of credit to the consumer (or the user) from

which the user can borrow money for payment to a merchant or

as a cash advance to the user.

A credit card is different from a charge card requires the balance

to be paid in full each month. In contrast, credit cards allow the

consumers to ‘revolve’ their balance, at the cost of having interest

charged. Most credit cards are issued by local banks or credit

unions, and are the shape and size specified by the ISO/IEC 7810

standard as ID-1.

Features of credit cards:-

It is a piece of plastic about 3.5x2 inches in size. Some of the

features of credit cards are as below:

LOGOS:-

The card carries logos of the card association (Visa, MasterCard)

as well as that of the issuing bank (J&K, ICICI, HDFC and so on ) in

the front of the card.

NUMBER:-The card number is embossed in the front. This is

usually a 16-digit number. The first number symbolizes the major

industry. Banking industry cards usually start with 4,5 or 6. The

first six digits identify the issuing organization. The next nine

digits denote the individual’s account number. The last digit is a

check digit.

NAME:-Also embossed on the front of the card in the name of the

cardholder.

EXPIRY DATE:-The date till which the card is valid is embossed on

the front of the card.

MAGNETIC STRIPE:-There is a magnetic stripe (called magstripe)

running through the length on the card on the reverse. This

contains the identification information of the card which is

transmitted during a transaction.

CVV NUMBER:-This is a three digit number that appears on the

reverse of the card after the 16-digit card number.

CONTACT NUMBER:-On the reverse of the card the issuing bank’s

contact numbers are printed. The cardholder can call these

numbers for any card related queries.

SIGNATURE:-There is a space below the magnetic stripe where the

cardholder is mandatory to sign.

Secure code:-A Master card secure code is also provided to the

customers of the bank. It is a very important because it protects

their customers at that time when they are doing online shopping.
As we know that credit card can also be mis-utilized by anyone so

in order to prevent their customers, they have to fill their secure

code in the Gate Way of the J&K Bank during online shopping.

Using J&K Bank Credit Card is extremely simple. After

making transaction or availing of the service provided by the

Merchant Establishment, present J&K Bank Credit Card.Upon

processing J&K Bank Card transaction, the Merchant will request

to customer to sign a charge slip (refer to the image alongside).

This contains details about the amount to be billed to J&K Bank

Credit Card. If Customer wish to leave a tip or miscellaneous

charge, they can do so by filling in the same on the charge slip.

After filling in this section, in the interest of their own safety,

J&KBank recommend that customer write out the total amount in

the charge slip before signing.Please ensure that customer sign

on the charge slip in the same way they have signed on the
reverse of the Card.The Merchant Establishment will return the

copy of the bill(s) and the charge slip along with customer Card.

Customer has to match the amounts before leaving the

establishment.It is recommended to retain customer copy of the

charge slip and the corresponding bill till such time as the amount

is reflected in their Card billing statement.Customer Monthly

Credit Card Statement is a statement of accounts with a summary

of transactions made through their J&K Bank Credit

Card for the previous month, giving the details of the transactions

made through J&KBank Card, during the period

One Time Password (OTP) for IVR transactions:-An OTP is a six-

digit code, valid for a limited period from the time of placing a

request for it. You will need to obtain an OTP before every IVR

payment transaction. It is required at the time of making payment

on the IVR, where you will be prompted to enter it along with the
other details like your credit-card number, card expiry date and

CVV number.

Effectively January 1, 2011, as mandated by Reserve Bank of India

(RBI), Credit-Card-issuing Banks in India have introduced an

additional measure of security for IVR transactions (Interactive

Voice Response transactions are those transactions which are

made over the phone where certain Credit-Card details are to be

entered into an automated system in order to make payment to a

merchant for the purchase of goods/services) through their Credit

Cards – the OTP (One Time Password) generation.

SALIENT FEATURES:- 20-50 days credit free period.Revolving

credit facility on paying of minimum payment due in the billing

period.Hassel free credit facility at competitive rate of

interest.Cash withdrawal facility upto 20% of the total credit limit.

Loyalty programmes:-MasterCard secure code enabled credit

cards. J&K bank lets you shop securely on-line with J&K bank

MasterCard credit card. This service through a simple checkout

process, confirms your identity when you make purchases on the

internet.24x7 customer assistance at J&K bank helpdesk.

TYPES OF CARDS:-

BLUE EMPOWERMENT CARD

SILVER EMPOWERMENT CARD

GOLD EMPOWERMENT CARD

ELIGIBILITY:-

ANNUAL INCOME

For salaried - Above RS.80,000.00

For self-employed - Above RS. 1,50,000.00

CREDIT LIMIT:-
BLUE EMPOWERMENT CARD 25000.00

SILVER EMPOWERMENT CARD 50000.00

GOLD EMPOWERMENT CARD 100000.00

RATE OF Interest 2.25% per

month.

ADVANTAGES:-They allow Customer to make purchases on credit

without carrying around a lot of cash. This allows them a lot of

flexibility.They allow convenient remote purchasing-

ordering/shopping online or by phone.They allow accurate record

keeping by consolidating purchasing into a single statement.

Under some circumstances, they allow holders to withhold

payment for merchandise which proves defective.They are

cheaper for short term borrowing – interest is only paid on the

remaining debt, not the

Full loan amount:-

Many cards offer additional benefits such as additional insurance

cover on purchases, cash back, air miles and discount on holidays.

DISADVANTAGES:-Customer may become an impulsive buyer and

tend to overspend because of the ease of using credit card. Cards

can encourage the purchasing of goods and services they cannot

really afford.Credit cards are a relatively expensive way of

obtaining credit if customer don’t use them carefully, especially

because of the high interest rates and other costs.Lost or stolen

card may result in some unwanted expenses and inconvenience.

The use of a large number of credit cards can get holders even

further into debt.Using a credit card, especially remotely,

introduces an element of risk as the card details may falls into the

wrong hands resulting in fraudulent purchases on the card.

Fraudulent or unauthorized charges may take months to dispute,

investigate and resolve.

INTRODUCTION TO DEBIT CARD/ATM CARD

DEBIT CARD:-A debit card (also known as a bank card or check

card) is a plastic card that provides the cardholder electronic

access to his or her bank account/s at a financial institution. Some

cards have a stored value with which a payment is made, while

most relay a message to the cardholder's bank to withdraw funds

from a designated account in favour of the payee's designated

bank account. The card can be used as an alternative payment

method to cash when making purchases. In some cases, the cards

are designed exclusively for use on the Internet, and so there is no

physical card.In many countries the use of debit cards has become

so widespread that their volume of use has overtaken or entirely

replaced the check and, in some instances, cash transactions. Like

credit cards, debit cards are used widely for telephone and

Internet purchases.

However, unlike credit cards, the funds paid using a debit card are

transferred immediately from the bearer's bank account, instead

of having the bearer pay back the money at a later date.Debit

cards usually also allow for instant withdrawal of cash, acting as

the ATM card for withdrawing cash and as a check guarantee card.

Merchants may also offer cash back facilities to customers, where

a customer can withdraw cash along with their purchase.

FEATURES OF DEBIT CARD:-

Pin Based -Maestro / Cirrus Debit Card:-

Provides online access to savings or current account.

Accepted at all domestic as Well as International MasterCard,

Maestro, Cirrus Enabled ATM's and Point Of Sale locations.

Accepted at National Financial Switch (NFS) ATM's.

No Transaction Fee at JK Bank ATM's.

No Transaction Fee on purchases

DETAILS OF CARDS OFFERED BY J&K BANK;

Salient Features:-

Pin Based- Maestro/Cirrus Debit Cards

Provides online access to savings or current account

Accepted at all Domestic as Well as International MasterCard

TM,Maestro TM, Cirrus TM, EnabledATM’s and Point Of Sale

locations Accepted at National Financial Switch (NFS) ATM’s

No Transaction Fee at JK Bank ATM’s

No Transaction Fee on Purchases

Empowerment Credit Cards

Customer Benefits:-

20-25 day credit Free Period

Revoloving Credit Facility on paying of minimum payment due in

the same billing periods

Hassle free credit facility at competitive rate of interest

Coyalty programmeash withdrawal facility upto 20% of total credit

limitLMasterCard® SecureCodeTM enabled Credit Cards J&K

Bank MasterCard Credit Card. This service through a simple

checkout process confirms your identity when we make purchase

on internet.

24 Hours Customer Assistance at JK Bank HelpDesk

Types of Cards:-

Blue Empowerment Card

Silver Empowerment Card

Gold Empowerment Card

Acceptability:-All Merchant Establishments like shops who honor

MasterCard™ Credit Cards.

All ATM's which accept MasterCard™ Credit Cards.

Eligibility:-

Annual Income;

For Salaried -Above 80,000.00

For Self Employed -Above 1,50,000.00

Documentation:-

Income Proof

Address Proof

Identity Proof

Credit Limits:-
Blue Empowerment Card- Upto 25,000.00

Silver Empowerment Card-Upto 50,000.00

Gold Empowerment Card-Upto 1,00,000.00

Rate of Interest:-2.25% per month

Annual Fee:- 300

Renewal Fee:- 250

Add-on Card Fee:- 150

Late Fee:-100

One Time Password(OTP) for IVR transactions:-

Effective January 1, 2011, as mandated by Reserve Bank of India

(RBI), Credit-Card-issuing Banks in India have introduced an

additional measure of security for IVR transactions (Interactive

Voice Response transactions are those transactions which are

made over the phone where certain Credit-Card details are to be

entered into an automated system in order to make payment to a

merchant for the purchase of goods/services) through their Credit

Cards – the OTP (One Time Password) generation.

What is an OTP:-An OTP is a six-digit code, valid for a limited

period from the time of placing a request for it. You will need to

obtain an OTP before every IVR payment transaction.

SMS ALERT SERVICES

Jammu & Kashmir Bank Ltd has been serving their customers by

being at the forefront of state. The various customers do

experience the comfortable platform of Jammu & Kashmir Bank,

which does ensure to provide trusted service. The customers of

Jammu & Kashmir Bank Limited can use the SMS banking by

submitting the SMS banking form to their nearest branch.The

registration with their mobile number is mandatory to get the

services activated from the bank. There are multiple service

options which can be opted from these Jammu & Kashmir SMS

banking transaction codes and get connected with the bank

account.

The customer does get regular updates to their registered mobile

number through their SMS alerts. The message alerts send

whenever a debit or credit or any type of transaction has taken

place in account.

Name of Bank Jammu & Kashmir Bank

Official Site jkbank.com

SMS Alert registration application form jkbank.com/pdfs/forms/SMS alert form.pdf

Customer Care number 0194-2481999

Jammu & Kashmir Bank SMS Banking:-Customers have to

opt for an SMS banking option when they are filling the

application form in the bank. In recent days the banking system

has moving towards online and the platform created for

customers to have their connection directly with a bank account

at their fingertips.Details about account balance, last transactions

made and other similar basic transaction alerts sent to customer

registered mobile through the Jammu & Kashmir Bank Limited

secured platform. The response will be quick and instant, which is

even faster when compared to Net Banking facilityJammu

Kashmir Bank SMS Alert Services Registration:-Jammu &

Kashmir Bank providing SMS Alert Service for their customers to

get day to day updates. In these busy schedules of people, there

is some difficulty to check status of their current savings bank

account. So Customers just register with SMS alert

service by following simple procedure and filling a application

form.

1. Visit Jammu & Kashmir Bank branch

2. Get a Application form for SMS Alert registration from

Bank

3. Provide required details like name of account holder,

account details, correspondence address and Mobile

number

4. Also enter details of Alert services that you want to choose

5. Finally do the signature and Submit it to Bank

Does Jammu & Kashmir Bank Ltd provide services outside the

state?The SMS banking Service and Missed called service

by J&K Bank Ltd, are available to use from anywhere in

India. The customer has to use their registered mobile

number to receive the SMS alerts from their bank account.

Why don’t I get SMS alerts from Jammu & Kashmir Bank Ltd?

There are multiple reasons for an SMS alert to block by the

Jammu & Kashmir Bank. The customer has to reach to the nearest

branch and check the details of their registered mobile number.

As well have to connect with their network provider if there any

DND service activated on their number.

Where can I get a Jammu & Kashmir Bank Ltd SMS number?

The individual can list the official website of Jammu & Kashmir

Bank Ltd and move to the services page. They can check the toll

free number provided in the portal. Also use the same for the

future to receive the SMS alerts.

 Accounts Updation by J&K Bank

Jammu and Kashmir Bank provides its customers to modify and

change its accounts details.Below given form shows the process

and form for changing account details.

Letter of request for Incorporation/ Modification of Customer

Information (eBanking)

Branch Head,

Dated:

___/___/_______/ Business Unit __________________________

Sub:- Request for incorporation/ modification of Customer

Information (eBanking)
Sir, Kindly incorporate the following information related to me as

eBanking customer at your Business Unit.

Present Details:

1. Customer ID: _______________________________________(To be filled

by Business Unit Only)

2. Name of Customer/ Account

No:____________________________________________________

3. Email ID:

______________________________________________________________________

4. Mobile No:

_____________________________________________________________________

5. Telephone No:
__________________________________________________________________ 6.

Mother’s Maiden Name:

__________________________________________________________

7. Date of Birth/ Date of incorporation of Company:

________/_______/________/

Modifications (if any):

1. Email ID:

___________________________________________________________________

___

2. _ 2. Mobile No:

___________________________________________________________________

__
3. 3. Mother’s Maiden Name:

__________________________________________________________

4. 4. Telephone No:

__________________________________________________________________

5. Reasons for request:

_____________________________________________________________

_____________________________________________________________________

_________

6. Proof :

_____________________________________________________________________

___
 Signature of Account Holder/s/

Authorised Signatory (Specimen signature as

maintained in Bank records)

Declaration by Customer:-

Bank reserves the right to reject the request for change/

incorporation of the information without sufficient proof without

reasons. Bank reserves right to reject frequent change of

information.Bank reserves right to independently verify the

documents submitted as a proof and suspend the operation of

the eBanking account till the verification of the same. Customer

submitting request letter for change of customer information

undertakes to abide by rules and regulations governing the

operation of the eBanking account and has submitted the request

letter only after accepting the terms and conditions.

Information submitted for change/ incorporation of particulars is

true and correct and up to date in all aspects and I/We have not

withheld any information. I have as authorised signatory of the

account mandate on behalf of other account holders to seek the

change in the customer information and to bind myself and other

joint accounts by the rules and regulations and other conditions

governing the eBanking account ( Applicable in case of Joint

Accounts and should be accompanied by the authority letter).

Signature of account holder

 Instant Bill Payments

Jammu and Kashmir Bank provides its customers to pay a lot of

different types of Bill Payments.Below given figure shows the

different types of Bill Payments provided by J&K Bank. You can

pay all the different types of Bills like electricity Bill, Gasoline

Bill,Mobile bill etc.The Bill Payments can be done through online

either through net banking or Mpay Applications.

 Money Deposit Machines

J&K Bank commissions 11 Cash Depositing Machines

Increasing its digital footprint to further public convenience, J&K Bank

has commissioned a network of 11 Cash Deposit Machines (CDM)

across the state, wherein cash can be deposited in Savings, Current,

Cash Credit, Overdraft and Credit Card accounts maintained with the

bank.These CDM’s have been installed at Jehangir Chowk (Nabira

Complex), Residency Road (Srinagar), Residency Road (Jammu), New

Colony Sopore, T P Baramulla, Pulwama Main Court, University

Campus Hazratbal, Jawahar Nagar Main, SMC Shop-Partap Parak, Gole

Market Udhampur and Buss Adda Anantnag.The Debit Card at CDM

enables depositing of cash in the cardholders accounts only and not

in accounts of any other person. However, accessing the CDM through

an account number will enable deposit of cash in the account number

entered, which can be of the depositor or of any other person. Like

ATM transactions, the money deposited in CDM gets reflected in the

account balance in real time.

The cash to be deposited must be straightened before deposit and

must not be stapled, threaded or banded and sorting of notes is not

required as the same shall be done by the machine. A maximum of 200

notes can be deposited at a single time. The machine accepts notes of

denominations of 50, 100, 500 or 1000 only.

In the first phase, the bank shall commission 14 more such machines,

whereas by the end of this financial year the Bank shall install 100 more

such facilities across J&K.

In addition to cash deposit facility the CDM terminal can also be used

to check balance of the account, print a mini statement and change

debit card pin.

 Mpay Applications by J&K Bank

J&K Bank launches Mpay Delight +

As a major step towards realizing its digital banking objectives, J&K Bank

launched the first phase of its new mobile banking app Mpay Delight +

to provide ‘Bank-in-a-Pocket’ experience to its customers.MD & CEO

Baldev Prakash formally launched Mpay Delight + today in presence of

General Managers, Deputy General Managers and senior officers of the

Bank here at the Bank’s corporate headquarters.

While congratulating the participants for the new application, MD & CEO

Baldev Prakash said, “Today I am happy to see that the first-phase of Mpay

Delight + is in our pockets and well ahead of the timeline. With the new

app we have overcome the most severe pain-point in our banking services

while covering an important milestone in our digital journey to ensure

ease-of-banking for our valuable customers.”

“The second phase will be completed by December this year with all the

necessary digital banking features like online journeys for loans, deposits

and investment product line. Thereafter, the customer won’t have to go

to branch any more as all the core functions of the branch will be

managed on Mpay Delight + with much ease and efficiency”, he added.

In his remarks on the occasion, MD & CEO further said, “Best quality

products and timely delivery of services are the two critical components

of a good strategy that enables organizations to thrive in any kind of

competition. And when it comes to banking, the new-age customer is not

ready to compromise on either of the two.”

He urged the entire staff to promote the app aggressively so that the

Bank’s valuable customers can enjoy the ease, convenience and safety of

managing their bank accounts anytime, anywhere without any hassles.

“With so many digital initiatives of the Bank currently in ‘work-in-progress’

stage, I assure all our stakeholders that J&K Bank will be one of the

digitally best banks in the country by the end of current financial year”, he

asserted while appreciating the entire team of Mpay Delight + for their

hard work in devising a highly competitive and feature-rich mobile

banking application.

“All of us should continue to do the good-work as a team because the

new-age banking calls for more of an advanced and integrated mode of

functioning possible only through team-work”, he added.

Earlier, in his welcome address Bank’s General Manager (Strategy & IT)

Imtiyaz Ahmad gave an overview of the new application along with its

features. He said, “Our previous application has 2 million users which

makes it evident that of all the digital banking channels, J&K Bank’s mPay

is the mostly used platform by the common people. Today, as of now, the

Mpay Delight + has already been downloaded by 1 lac ten thousand

users.”

“And with enhanced features and ease-of-function, I am sure we will cross

the 2 million mark sooner than we expect after this formal launch”, he

added.The function ended with a vote of thanks presented by the DGM

(IT & BPR) Mohammad Muzaffar Wani, wherein he expressed gratitude to

all the dignitaries for sparing their valuable time besides thanking

organisers of the event. “It might look a very small tool or app that every

other bank has. But for us, Mpay Delight + will be a vehicle for achieving
our digital transformation goals and it is going to help us in scripting a

new business growth story of the Bank”, he said.

Notably, Mpay Delight + is a state-of-the-art mobile banking application

with an intuitive and user-friendly interface, making it easy for customers

to navigate and access various banking functions. Some of the prominent

features include easy account/s management, debit card management,

utility bill payments, mobile deposits, alerts and notifications, loyalty

management, Chatbot etc. The app has robust security measures in place

such as encryption, biometric authentication (like fingerprint or facial

recognition), and two-factor authentication (2FA) to protect user data and

transactions.
 Easy Collect

J&K Bank Easy Collection Services:-

Easy Collect is a multi-modal payment portal which facilitates

Educational or Commercial or Government or Non-Government

institutions to receive online payments from receivers of their

goods & services.

Institutions need not to maintain a website. Portal supports online

and offline payment modes. Facilitates 24x7 collection process. All

for free - No design, No development, No hosting, No on

boarding charges & No maintenance charges.

Easy Collect Portal is ideal for:-

• Collection for goods and services supplied by

Firms/Corporates/Institutions.

• Fee collection by Educational Institutions.

• Collection of dues by Government/Quasi Government Bodies.

• Local taxes like water tax, house tax, electricity bill etc. by Semi

Govt. bodies.

• Collection of Recruitment fee.

Design

Institution decides payment form/field design. Institution identifies

Collection Categories
 Develop

J&K Bank develops institution requirement into Easy Collect Web

Module

Go-live

Institutions signs off UAT.Easy Collect Module is Live.

Safe, speedy and simple way of collecting payments online.

https://ecollect.jkbank.com

Easy Collect

How it works for Payee:-

e.g. Tax Payers, Service Fee Payers, Students, Tourists etc.

 Access:-

Easy Collect, Select Institution and Select Collection Category. Fill in the

required payment form

Pay:-

Select mode of payment.Pay through Cards/Net banking

Confirm:-

Download Payment confirmation.SMS/Email Alerts are generated.Access

Payment History

EASY COLLECT FEATURES

• Variety of Pay modes- Visa/Mastercard/Diners, Debit Cards

and 45+ Net banking options including J&K Bank e-Banking.

For Offline Mode, it supports Challan based transactional

 System, with one of its modules accessible to J&K Bank

business units.

• All for free -No design, No development, No hosting, No on

boarding charges & No maintenance charges.

• Merchant Information System- comprehensive reporting

module, payments identified by unique Collection ID

• Payment Forms are Versatile and Customizable. Online

payment pages are a versatile tool and can be used for

• one-time payments,

• registration forms,

• for collecting billing information for recurring

payments.

• Customizable user interface- Institution can tailor the visual

design of collection pages to make them fit into the look and

feel of their own brand identity.

• Seamless user experience -Responsive Design offers an

experience that ignores the boundaries between

smartphone, tablet and computer.

• Security – All payment- are protected with 256-bit SSL

encryption to ensure transactions are always safe. CAPTCHA

system deters spammers from abusing forms.

 Adhaar Bank Seeding by J&K Bank

How to link Aadhaar Card to Jammu And Kashmir Bank Account

Account Account Account Offline?

Mentioned below is the process to link Aadhaar Card to Jammu

And Kashmir Bank Account Account Account Account Offline i.e.

by visiting your bank.

1. Visit your bank and obtain the Aadhaar Card & Bank Linking

Form. Alternatively, you can download it from your bank's

website and take a print out of it.

2. You are required to fill in your Bank Account Number,

Current Address, Mobile Number, Phone Number, IFS Code,

etc. in that form.

3. You are also required to enter your Aadhaar number in the

form.
 4. Fill in all the details in the form correctly.

5. Enclose a photocopy of your Aadhaar Card with the form.

6. Submit the form to the banker for processing your request.

7. The banker will verify it with your original Aadhaar Card.

8. The banker will keep the application form for further

processing.

9. After your request for linking your Aadhaar Card with your

account is processed, you will be notified by your bank

through email/ SMS.

How to Check the Status of Linking of Aadhaar Card with Jammu

And Kashmir Bank Account Account Account Account?

You can check the Bank Aadhar Seeding Status to know if their

Aadhar Card has been linked to the bank account or not. Outlined

below is the process to check the status of linking of Aadhaar

Card with Jammu And Kashmir Bank Account No.

1. Click on https://myaadhaar.uidai.gov.in/

2. Click on 'Bank Seeding Status' option

3. Enter your 12 digit Aadhaar Number and Security Code

(captcha) displayed on that page

4. Click on 'Send OTP' Button

5. Then an OTP (One Time Password) will be sent to your

Aadhaar registered mobile number

6. Enter the OTP

7. Click on 'Login'

8. If you are able to login successfully, the page of the website

will display whether your Aadhaar number is successfully

linked to the bank or not

9. The page will also display information like Bank Name (it will

show only the last bank with which your Aadhaar information

is linked to), Bank Linking Status and Bank Linking Date

 10. Remember, if you maintain multiple bank accounts, you

will have to check the status of the same with the bank

Process to Check the status of linking of Aadhaar Card with

Jammu And Kashmir Bank Account through Mobile

1. Dial a number *99*99*1# through your registered Mobile

Number

2. Enter your Aadhaar Number

3. Verify and confirm that the Aadhaar Number entered by you

is correct

4. Then it will display whether your Aadhaar Card is linked with

your Bank Account

Benefits of Linking Aadhaar Card with Jammu And Kashmir Bank

Account Account. No:-

1. Aadhaar is a valid Know your Customer (KYC) document to

open bank accounts.

2. Reduces chances of fraudulent activities on your bank

account

3. Receipt of Direct Benefit Transfer (DBT) subsidies from

government including LPG, Kerosene, Sugar, etc. Subsidy

directly into Bank account.

4. Receive direct credit of other Government subsidies like

welfare funds, pensions, scholarships, MNREGA wages etc.

into your account.

5. Direct credit of welfare funds, pensions, MNREGA wages etc.

from government.
6. Scholarship from the government will be credited to the

account,only if bank account which is on the name of the

student is linked with his/ her Aadhaar Card.

7. Take advantage of easy and convenient Aadhaar enabled

payment systems (AEPS) of following:

o UPI (Unified Payments Interface) payments done

through Aadhaar

o BHIM (Bharat Interface for Money)- Aadhaar Pay

o Aadhaar Based payment on biometric Micro ATMs

 WhatsApp Banking

WHATSAPP BANKING!

J&K Bank is always looking to make your Banking experience simpler &

easier. WhatsApp Banking has been introduced to help you to use

various banking services & updates using a secure & interactive menu

through the WhatsApp messaging Platform!

Experience it now! (Click here):-

Or Follow the below 3 easy steps

1. Save J&K Bank’s Official WhatsApp Banking Number +91

9906663937 to your contacts.

2. Go To WhatsApp, Search the contact

3. Send “Hi” as a message to experience the list of services available

Start getting alerts & updates using WhatsApp!

SERVICES OFFERED:-

J&K Bank WhatsApp banking shall be available 24/7 x 365 & is currently

offering following services. We will continue to add more services for your

convenience

• Information on various Banking Products/Services

• Locate J&K Bank Branches & ATMs

• Customer Care

• Customer Complaints & Transaction Dispute Status

• Applying for various Products/Services

• Offers

• FAQs
 Response of J&K-BANK Customers to Digital Banking:-

J&K Bank awarded for promoting digital payments

Achieving another feat in digital payment domain, J&K Bank bagged

an award for its outstanding performance in promoting digital

payments during FY 2021-22. The Bank has achieved 2nd highest

percentage of digital payment transactions in Small and Micro

Category of private sector banks.

MD & CEO Baldev Prakash received the felicitations from Union

Minister of Electronics & Information Technology, Railways, and

Communications, Ashwini Vaishnaw at "Digital Payments Utsav"

celebrated by Ministry of Electronics and Information Technology

(MeitY, GoI) at India Habitat Centre, New Delhi. Bank's Chief Digital

Officer Naveed Zargar was also present on the occasion.

While expressing his gratitude, Baldev Prakash attributed the reception

of award to the persistent efforts of Bank's Staff. He said, "It is a

moment of great satisfaction for all of us as we see our extra-efforts

to realise the vision of Digital India not only fructifying but getting

acknowledged and awarded at the prestigious platforms of the

country. I congratulate every member of J&K Bank Family for this

wonderful accomplishment.""And I am sure, such recognition will drive

us to achieve greater excellence not only in promoting digital

payments but other aspects like digital lending as well", he added

 He further said, "To encourage digital banking in our operational

geographies we have embarked on digital transformation journey. The

digital mission of the Bank is to improve the customer experience by

providing them digital banking services that are convenient, easy,

affordable, quick and secure."

With the proactive measures taken to encourage digital payments, the

Bank had successfully surpassed the Digital Payment Transaction

target allocated by MeitY for the financial year 2021-22.

Pertinently, J&K Bank has bagged ‘Utkarsh Puraskar - 2020-21’ last year

also for being one of the top two.

Glitches in Digital Banking and steps needed for its

reformation:-

Customers Fume As J&K Bank Services Hit By System Glitch;

Srinagar:-The transactions and other procedures were hit across

all branches of Jammu and Kashmir Bank following a technical

glitch leaving the customers in lurch for the third consecutive day.

On Monday, Kashmir Observer received dozens of calls from

distressed customers complaining that they were unable to make

payments or access their accounts because of the unprecedented

outage.

“I was here [J&K branch] to withdraw the cash, but the employees

informed me that the system is not working. I then tried to

transfer an immediately required amount from my Mpay but that

too wasn’t working.” said Muhammed Afzal Naqash, a customer.

Besides this, scores of customers were seen waiting at various J&K

Bank branches since morning. Almost all the customers left the

bank disappointed as they failed to make any transactions.

“While the bank is upgrading its platform to provide a better

service to its customers, this is no way to handle customers during

the hour of need. They can’t expect us to stay patient after putting

us through a lot of troubles.” Nausheen Shah, another customer

told Kashmir Observer.

Notably, since the start of the new calendar year, the prestigious

J&K Bank, which kept banking alive in Kashmir during the

turbulent times, and was trusted across the length and breadth of

the valley, has been in the news for all the wrong reasons. From a

host of charges related to scams and irregularities in recruitment,

J&K Bank has somehow damaged its customers’ trust in recent

times.

However, talking to Kashmir Observer, an official from the J&K

Bank who is looking after the software upgrade says that the bank

is unable to understand why people are complaining.

“Mpay and ATM services were working fine. Only in-person

transactions at the bank were down,” the official said. “The

software was already upgraded yesterday. Today, the bank was

facing problems in cheque clearing. Except that, everything was

working fine.”

He further added, “Bank is currently working on outdated

software. That’s why we’re shifting from that to Finacle 7, which

after sometime will be updated to finacle 10, which is faster and

has a unified view of all channels. Multiple channels like mobile

banking, UPI, e-banking, nach and CTs are to be moved. It takes

time and also the data fields in both databases are different. So

there’s a chance of failure.”

The official also said that the current software upgrade is a must

for every bank to go through and subsequently their services will

also be disrupted during the upgrade. “So, J&K bank is no

exception,” the official told Kashmir Observer.Pertinently, the bank

had sent a prior SMS to the general people in which it was

conveyed that a major system upgrade scheduled this month may

lead to temporary disruption of services.

“Due to a major system upgrade scheduled in this month there

may be temporary disruption of services. We solicit your

cooperation & request you to bear with us. JK BANK,” reads the

SMS.

Notably, two days ahead of Eid-ul-Fitr last month, services of J&K

including ATM and MPay services were down most of the time

and customers were put to a lot of difficulties.

Srinagar:-Jammu and Kashmir Bank’s mPay on Saturday faced

some ‘technical issues’ as a result of which the mobile banking

app was not accessible leaving customers high and dry in Kashmir
ahead of Eid.Scores of J&K Bank customers complained of facing

inconvenience due to the inaccessible mPay.

“ For the whole day, J&K bank’s mobile application was defunct

leaving people high and dry. It is unfortunate that the premier

financial institution of Kashmir is not able to provide its digital

services to customers when they need it most,” said President

Kashmir Traders Alliance, Aijaz Shahdhar.“It is always during the

peak time when this app develops glitches,

Apart from defunct mPay, ATM booths at various places were out

of service or short of money.

“It was a double whammy neither the app was working nor the

cash dispensing machines,” customers said.

Meanwhile, bank officials said that they are working to upgrade

the facility.
 Steps needed for Digital Banking Transformation:-

7 Steps to Starting a Digital Banking Transformation:-

Most financial institutions understand the critical need for digital

transformation across the enterprise. Moving toward a more

robust use of digital channels and tools can redefine business

activities, processes, competencies and models to leverage

technologies in a strategic way. The ultimate result should be

optimized operations, a greatly enhanced customer experience

and a sharpened competitive edge.

But how do you get started, or if you have started and stalled,

how do you keep going? Finding the necessary digital and

leadership resources can be a struggle. It will help to look at

transformation as a journey. Start by figuring out where you want

to go, then map out how you’re going to get there.

For financial institutions ready to start (or restart) down the path

of digital transformation, here are some steps to take.

1. Outline Your Objectives:-

What do you want to accomplish? Do you want to implement a

digital-first mindset and improve legacy systems and processes?

Do you want to attract and retain new customers and members

with digital services? Is your goal to leverage digital assets

specifically to grow your deposits or loan portfolio?

When you set your goals, keep in mind:

• Data and metrics resources

• Incremental progress versus making a big bang

• Initiative leads and supporting cast

• Whether you need help from a trusted partner

This step includes creation of a simple and easy-to-communicate

list of priority objectives for your digital transformation.

2. Compare Your Product Offerings With the Competition’s:-

Where do you stand in the market, in terms of your digital

presence? Have you packaged your products for digital-first

consumers? Do you use digital tools to educate your customers

and staff?

When looking at your product offerings in comparison to those of

your competitors, consider:

• The quality of, and features offered by, your website

• The ways you educate consumers

• The quality and appeal of your product packaging

Your goal is to create a comprehensive report card of how your

financial institution stacks up against traditional and

nontraditional competitors in terms of digital services.

3. Assess Processes and Technology:-

Evaluate your current inventory of systems and products. This is

the foundation you have to build on. Do you have annual product

planning activities that align with your budget and strategic plan?

Are there capabilities that you haven't taken full advantage of?

A thorough review may reveal that you have more to work with

than you initially thought. You’ll gain insight on how you can

make the most of what you already have, and what you need to

introduce to enhance your digital capabilities.

Then, get more specific about your processes. Do your processes

support digital account opening? Is it a multichannel experience

that can be started online and finished in-branch or through the

call center? Do you have a process for monitoring app store

ratings and other social media channels for consumer feedback

on the apps and tools you make available?

When deciding how to transform your processes, think about:

• Multichannel experiences

• Branch servicing

• App store feedback

• Optimizing available digital services

The goal is to develop a comprehensive list of processes to be

included in your transformation, based on time and budget

constraints.

4.Evaluate your Culture:-

Change is difficult. As you consider digital transformation, is your

board of directors and your leadership supportive? Are they

driving the change, or is it coming from the grassroots? How

might you structure your organization for digital optimization? Do

you have internal digital experts to help internal staff or, possibly,

customers and members who may not be as comfortable with

digital technology? Are your recruitment and training programs

developing needed digital talent?

When evaluating your company and gauging its ability to evolve

digitally, consider:

• Whether your company's current culture can adapt

• If your leadership backs the change

• What the organizational structure would be

• Whether talent recruitment and training programs are

keeping pace with digital needs

You want to create an environment in which leaders are aligned,

accountable and action oriented. But you also want to build a

support staff that can facilitate your digital transformation.

5. Understand Your Customers Through Data and Analysis:-

Customer or member data aggregation may sometimes be a

struggle, but you can’t understand your consumers without it.

Take a hard look at how you’re handling this now. Do you

segment your consumers by demographics, lifecycle or product

mix? How do you see your digital services aligning with your

customer segments and their preferences?

While defining your segmentation strategy, look closely at:

• Product mix, wallet share and profitability

• Digital services offerings

• Growth levers
 • Customer and member data aggregation

The goal is to have a program that defines how to predict which

consumers are more likely to add digital services, and then reach

out to them with your new offerings.

6. Prioritize:-Remember your list of objectives in step one?

It’s important to take a practical and realistic approach

toward achieving those objectives, and to communicate that

pragmatic attitude to your key stakeholders. Always keep in

mind that you can reap the benefits of digital

transformation by starting with a few strategic initiatives

that you can build upon later.

When setting priorities for your digital transformation, try to:

• Identify quick wins

 • Consider other initiatives that may be contending for

resources

• Avoid tackling everything at once

You know your objectives. Now create a prioritized list

of tactics that enable your institution to make incremental

progress toward a broader digital transformation, a few successes

at a time.

7. Bring Everyone Onboard:-Once you establish your digital

transformation framework, it's time to bring it all together. That

means all hands on deck. This goes beyond our earlier discussion

about culture. It’s an intentional effort to get enthusiastic buy-in,

from both your staff and consumers.

To build enthusiasm around the transformation:

 • Develop an internal communications plan that clearly defines

what everyone needs to do to make your digital program

successful, and continue to talk it up

• Create an external marketing plan that outlines what your

consumers should expect when interacting with your

financial institution, and the benefits of new digital products

and resources

When you implement a common methodology to access and

manage information, the people in your organization can provide

insights and intelligence that lead to empowered decision making

across the entire enterprise.

 Conclusion

J&K Bank has brought a lot of changes and has digitalized the

customer community.The various types of Digital Banking services

as discussed above by J&K has brought a lot of Comfort to its

customer community.It has revolutionised the customer base.It

has brought the banking services to our finger tips.The launch of

applications like Mpay Delight+ by J&K Bank can be attributed to

the fact,you can now transfer money to any other account of the

J&K Bank or any other Bank within seconds.You can check your

balance and keep track of all the transactions done by you.You

can also apply for various services through this App.The

introduction of SMS ALERT SERVICE by J&K Bank is another

important feature which gives you the instant message of how

much your account has been debited or credit in case of any

transaction.J&K Bank has also launched Helpline Services for its

customers, in case of any difficulty like Atm Block,Pin

Block,incorrect transactions to help it’s customer base.Though

J&K Bank has Brought a lot of changes for its customer

community,it can be said that J&K Bank has still a long way to go

to make available these services 24/7.Becoz,J&K Bank has

received negative comments from time to time due to

unavailability of various Digital Banking services from time to

time.I hope J&K Bank will look out for these issues and in future

these things can be rectified.I hope to see J&K Bank one of the

best Bank in the world, not only in India.

Refrences

Websites:- https://www.jkbank.net

https://economictimes.indiatimes.com;

https://www.rbi.org.in.
 Newspapers:-

Greater Kashmir;

Rising Kashmir;

Indian Express;

Linked In.

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