Srinagar, March 19: Digital banking took centre stage ahead of Eid-ul-Fitr as Jammu & Kashmir Bank recorded a significant surge in transactions across its alternate channels, reflecting heightened customer activity during the festive period.
According to official data accessed by Kashmir News Service (KNS), the bank processed 5.94 crore transactions between March 16 and March 19 through non-branch channels, involving a total amount of ?8,393.88 crore.
UPI emerged as the dominant mode in terms of volume, accounting for over 4 crore transactions worth ?3,125 crore, underscoring the growing preference for instant digital payments. The bank’s mobile banking platform, mPay, also witnessed substantial traction, handling 1.70 crore transactions amounting to ?2,991.70 crore.
ATM transactions remained significant amid festive cash requirements, with 15.50 lakh withdrawals totaling ?658.57 crore. Meanwhile, e-banking services recorded 83,641 transactions involving ?1,466 crore, indicating continued reliance on high-value digital transfers.
Kiosk banking channels contributed 65,952 transactions worth ?152.61 crore, highlighting the role of assisted digital services in extending banking access to rural and semi-urban areas.
Bank officials expressed satisfaction over the smooth functioning of systems despite the heavy transaction load, attributing the performance to improved digital infrastructure and capacity enhancements. No minor or major slowdowns were reported during peak hours, particularly on mPay, services largely remained stable.
Customers also noted improved reliability and seamless transaction experience compared to previous festive periods.
“M-Pay has made transactions much easier for us. Over the past few days, I have seen customers making payments without any difficulty,” said by Mudasir Sultan, a shehr-e-khaas trader
A trader from North Kashmir, Urban Style, said the improved services have changed his perception. “I was unsure about the bank’s digital upgrade earlier, but the recent experience has been very smooth. Payments are quick, and there are no delays. It has really helped businesses during this busy period,” said the owner of a popular cloth store in Kralgund.
Another customer Sadia Mukhtar, Chadoora said access to cash has also improved significantly. “I visited several ATMs over the last few days, and each time I was able to withdraw cash without any problem. This kind of reliability is important, especially ahead of Eid.
However, in terms of overall value, the transactions were lower than last year’s Eid period, when the bank had recorded a turnover of around ?13,900 crore.
The data reflects a continuing shift towards digital banking in Jammu and Kashmir, with UPI and mobile-based platforms increasingly emerging as the preferred modes of transaction, especially during peak demand periods like Eid. (KNS)
