The Hindu : Business : J&K Bank signs MoU with TCS

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J&K Bank signs MoU with TCS

Shujaat Bukhari

To create a blueprint for an enabling technology framework for the State

— PHOTO: NISSAR AHAMD

SPEEDING UP DEVELOPMENT: Union Minister for Commerce Jairam Ramesh (left); Chairman, J & K Bank, Haseeb Drabu (second from left) and CEO, TCS, S. Ramadorai (second from right), at the MoU signing ceremony in Srinagar on Friday.

SRINAGAR: The Jammu and Kashmir Bank and Tata Consultancy Services (TCS) signed a memorandum of understanding (MoU) on Friday to signal their intent to work together to create an IT blueprint for the bank. The two companies will also work together to create a blueprint for an enabling technology framework for Jammu & Kashmir in order to speed up economic development and help develop industry and commerce in the state.

The MoU was signed by A. K. Mehta, Executive Director and Chief Operating Officer of J&K Bank, and Ajoyendra Mukherjee, Global Head HR on behalf of the TCS, in the presence of Union Minister of State for Power and Commerce Jai Ram Ramesh, Chairman, J & K Bank, Haseeb A. Drabu, and CEO and Managing Director of TCS, S. Ramadorai.

After the signing ceremony Mr. Drabu said: “J&K Bank has been always working hard to help the State realise its economic potential and we believe that visits from large, successful business groups like the Tata group, led by TCS will only accelerate this process.”

Stating that the MoU should move beyond a particular framework and enter sectors such as power and horticulture, Mr. Ramadorai said: “It has been a great experience for all of us to understand the business realities on the ground in J&K and learn about the economic and business potential of the State. We will work with J&K Bank to put in place a technology blueprint, which we believe can propel the economic development in the area”. The TCS team, led by Mr. Ramadorai as well as representatives from other Tata group companies concluded a two-day visit to the State capital where they met with chambers of commerce and industry, entrepreneurs, academic institutions and government officials. The visit was facilitated by J&K Bank.

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