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J&K Bank starts e-payment facility for direct taxes
January, 15th 2009

Private-sector, Jammu & Kashmir Bank has introduced the facility of e-payment of direct taxes and also opened a new ATM its Punjbakhtar branch in Jammu.

Under this facility customers would not need to walk to the bank branches for paying their taxes. The Executive Director of the bank, Ashok Mehta said, "With this added facility, clients need not to come to banks and can discharge their tax obligations online by using bank's financial website"

The launch of this facility has added to the e-service facility that has been offered by the bank. Presently the e-banking of the bank includes shopping mall and bill payment facilities.

Mehta said that the RBI, Central Board of Direct Taxes (CBDT) and National Securities and Deposits Ltd (NSDL) have taken a long time to relax the regulatory restriction following which the bank has been allowed to launch the facility for e-payments of taxes online to its customers.

The executive director says that the management aims to extend banking facilities to its customers at international standards.

Meanwhile Mehta inaugurated the bank's ATM at the Panjbakhtar branch. This launch has enabled the bank to reach out to a total number of 235 ATMs in the state. The bank further plans to open 41 more ATMs in different locations across the state in just 15 days.

Presently there are 72 ATMs in Jammu and the bank plans to open 11 more within a fortnight.

Today Jammu & Kashmir Bank is one of the fastest growing banks in India with more than 500 branches spread across the country.

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