BARAMULLA: Minister for Agriculture Production, Rural Development, Panchayati Raj, Cooperatives, and Elections, Javid Ahmad Dar yesterday inaugurated the sixth branch of Kashmir Mercantile Co-operative Bank Limited (KMCO) at Kunzer, Baramulla.
Speaking at the inaugural ceremony, the Minister highlighted the vital role of cooperative banks in empowering the rural economy. He said that the fully computerized KMCO branch will offer comprehensive financial services to local residents, particularly benefiting farmers and aiding the implementation of government welfare schemes.
Javid Dar also underscored KMCO’s digital advancements, noting that the bank introduced the Core Banking System (CBS) in 2012, enabling real-time, 24×7 access to services, along with the issuance of customized RuPay Debit Cards for seamless nationwide transactions.
The Minister further announced that the Omar Abdullah-led government plans to open additional KMCO branches across other districts of the Union Territory to expand the bank’s outreach. This, he said, will enhance financial inclusion, strengthen the rural economy, and align with the government’s broader vision of rural and cooperative sector growth.
The event was attended by MLA Gulmarg Pirzada Farooq Ahmad Shah, MLA Sopore Irshad Rasool Kar, and senior officials of KMCO.
