Baramulla, Nov 10: Minister for Agriculture Production Department, Rural Development Department, Panchayati Raj, Cooperative and Election Department, Javid Ahmad Dar inaugurated the sixth branch of Kashmir Mercantile Co-Operative Bank Limited (KMCO) at Kunzer here Monday.
Speaking on the occasion, the Minister emphasized on the crucial role of cooperative banks in strengthening the rural economy, stating that the fully computerized KMCO branch will provide comprehensive financial services to local residents, benefiting the farming community and facilitating government welfare schemes.
Javid Dar highlighted KMCO’s pioneering digital initiatives, including the implementation of Core Banking System (CBS) in 2012, enabling real-time 24×7 access, and issuance of customized RuPay Debit Cards for seamless transactions nationwide.
The Minister announced that the Omar Abdullah government will also open branches of KMCO in other districts of the Union Territory, expanding the bank’s reach and services to more areas. He added that this move aims to further strengthen the rural economy and provide accessible financial services to a wider population, aligning with the government’s focus on rural development and cooperative growth.
MLA Gulmarg, Pirzada Farooq Ahmad Shah; MLA Sopore, Irshad Rasool Kar and senior officials of KMCO were also present on the occasion.
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