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| FM chairs special SLBC on Digital Banking | | Dr Drabu suggests stepwise approach for smooth, inclusive transition | |  Early Times Report
JAMMU, Dec 21: Minister for Finance, Labour & Employment and Culture, Dr Haseeb A Drabu today said the concept of Digital Banking is not just about adopting technology in the existing banking system but to bring socio-economic change in the society. He said we should look beyond the technology and in a state like Jammu and Kashmir there are many important issues which need to be addressed before moving fully towards Digital Banking. The Minister was addressing a special meeting of State Level Bankers Committee on Digital Banking held here today. The meeting was attended by Financial Commissioner Revenue, Lokesh Dutt Jha, Financial Commissioner Agriculture Production, Pramod Jain, Commissioner Secretary Finance, Navin Kumar Choudhary, Chairman J&K Bank Parvez Ahmad and Regional Director RBI Jammu N K Sahu. The Finance Minister stressed on involving institutions like Panchayats to be part of digital banking concept which will further help in building trust of the people in whole banking system. Dr Drabu asked the banks for making 100 digital Panchayats in 2017-18 so that the process could be then replicated in other Panchayats. During the meeting stress was laid on increasing card base in the state by providing debit cards to all account holders by March 31, 2017 and encouraging them to go for cashless transactions. The Minister also asked Chairman J&K Bank to reconsider the concept of maintenance charges.
The Finance Minister said that it is easy to target customers below the age of 25 as they are more adaptable to the technology and they can easily push forward the digital banking movement. 'To make the movement successful, we should involve the youth in the movement having better understanding of technology', he added. Dr Drabu asked the banks to exclusively work on Digital banking Awareness Programme and asked JK Bank to take lead in the whole movement as they are having maximum customers in the State. It is very important that the customers should link Aadhar with their bank accounts for better Aadhar compliance.
'Internet facility is imperative for digital banking movement and it needs to be looked into and addressed accordingly', the Finance Minister said.
Dr Drabu also complimented the banking fraternity in rendering their services to the customers during this entire period of demonetization and providing customer friendly banking services to people. Earlier, Chairman J&K Bank Parvez Ahmad, who is also the convener of SLBC informed the meeting about the various initiatives taken for promoting digital banking in J&K. Among others, senior officers of various government departments, representatives of Public and Private Banks and representatives of Telecom companies attended the meeting. |
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