State Cooperative Bank signs MoU with Batamaloo Traders
J and K State Cooperative Bank has entered into agreement with Batamaloo Traders` Association. The aim of the agreement is to channelize the credit flow to the members of the Association without any hassle.
In this regard, a memorandum of understanding was signed between the Bank and the association during an event organised at the corporate headquarters of the Bank. The MoU was signed by the Managing Director of the Bank, M. Lateif and the President of the Batamaloo Traders` Association, Abrar Ahmad Khan.
Speaking on the occasion, Chairman of the Bank, M. S. Dar said that the agreement was arrived at after a series of meetings with the office bearers of the association.
Dar said that the primary aim of the agreement is to provide hassle free credit to people involved in trade at micro level. He said that it is a general observation that people involved in sale, service and manufacturing activities at micro level find it difficult to get access to the credit when needed.
Dar said that through this agreement, the bank will be able to connect to a vast community of small traders and help them make progress in their business activities.
Bank has applauded the role of the office bearers of the association for coming forward and offering to work with J and K State Cooperative Bank.
It is pertinent to mention that the Batamaloo Traders` Association has more than 5000 members and bank aims to cover all the units during current fiscal.
