State Bank of India organized Jewellers meet in Jammu

Jammu, January 06 (Scoop News) State Bank of India organized “Jewellers’ meet” at their Zonal Head Quarters in Jammu. The meet was attended by the leading Jewellers both trading in Branded Jewellery as well as ethnic and other products like Kundan , Jarau ,Gold plated Jewellery and low content Gold Jewellery . Welcoming the customers The Deputy General Manager Shri. Ajit Kumar Jain apprised the customers of various achievements of the bank and appealed to the esteemed customers to continue to extend their patronage to the bank. A presentation on some of the tailor-made and customized products to suit the very specific need of the Jewellers’ Community was also made. The salient features of some of the schemes e.g. “Gold Metal Scheme” for purchase of gold at Concessional rate of interest were explained in detail. The scheme envisages that the limit will be released by allowing release of Gold in physical form and repayment will be made by paying the equivalent price of gold in rupees at the prevailing rate on the date of maturity within 180 days of the availment of the loan. Similarly salient features of “Trader’s Easy Loan” which envisages financing the working capital requirement of the business units against the security of mortgaged property were explained in detail.


Bank has recently launched cash pick –up facility in Jammu for its esteemed customers. The bank has already identified specilialised agencies M/s CMS securities Ltd and Radiant cash management Pvt limited for this purpose. These specialized agencies will be picking up the cash from the door steps of the business unit. To promote the cash pick up facility bank has waived Cash Handling Charges for its customers and even agency charges are also waived for the customers who open Power Pack and Power Premium current account of the bank.


Bank is also going in a big way to install “POS” terminals at business establishments for their benefits. This will add more convenience to customers who prefer using Debit/Credit cards to cash. To popularize the product Bank has reduced the merchant discount rate to just 0.65% for the customers using SBI Debit cards and 0.75% for other banks debit cards besides offering incentives to customers using cards for purchases instead of cash.


The members sought clarification on some of the issues and evinced keen interest in the Metal Gold Loan and Cash Pick-Up facility & POS terminals.


Mr. P.K Abrol Assistant general Manager, Region-II thanked the participants.