JKBFSL adds another branch in Jammu, launches Gold ETF My SIP MY Choice

Jammu, Oct 31: Expanding its network to facilitate investment services other than banking to the people of the region, Jammu and Kashmir Bank Financial Services Limited (JKBFSL) – a wholly-owned subsidiary of J&K Bank – today threw open a new branch here at Janipur.

J&K Bank Executive President Sunil Gupta inaugurated the new branch in presence of the bank’s Zonal Head Sunit Kumar, Managing Director JKBFSL Muzaffar Wani, and its CFO Pankaj Gour and senior officers of J&K Bank and prominent customers of the area.  The latest addition takes the number of J&K Bank FSL branches to 12, with half of them in Jammu.

On the occasion, the company also launched a product named ‘Gold ETF My SIP MY Choice’ that has been customized to meet the expectations of customers in the season of festivities.

Lauding JKBFSL for its market-driven strategy, Executive President Sunil Gupta said, “I congratulate JKBFSL for completely revamping its business model and aligning it with customer expectations. It is also heartening to know that JKBFSL is also in the process of upgrading its technology platforms to provide an enriching experience to its clients digitally. The recent launch of ONLINE account opening and mutual funds, revamped corporate website are part of those initiatives.”

He asserted that J&K Bank – the parent company of JKBFSL – would use its huge network of business units to help the company make the services available to the wider sections of the population especially in semi-urban and rural areas of J&K and Ladakh UTs.

“It is encouraging to see that conscious of J&K Bank’s social and financial commitments, JKBFSL is diversifying its product portfolio to provide tailor made solutions to the investment needs of our customers,” he said.

On the occasion, MD JKBFSL Muzaffar Wani gave an overview of features of the newly launched ‘Gold ETF My SIP MY Choice’ product, which he said, was developed keeping in view the aspirations of the customers, more so in the current festive season.

“It provides customers the luxury of investing in affordable quantities of Gold in digital form on a regular/monthly intervals to build wealth in the shape of accumulated gold over a period of time without worrying about the purity or security of gold,” he said. The function concluded with a vote of thanks presented by the Territorial Head of the Company Somdutt Sharma.

Notably, the JKBFSL is a wholly-owned subsidiary of J&K Bank to function as a financial intermediary for providing investment services other than banking to its’ customers. Regulated by SEBI, the Company is registered with NSE and BSE as a Stock Broker and Self-Clearing Member and with Association of Mutual Funds in India (AMFI) for distribution of Mutual Fund products. It has also special desks for the service spread across 53 prominent branches of J&K Bank.