FICCI FLO JKL signs MoU with J&K Bank to empower women through Financial Inclusion & Entrepreneurship

May 22, 2025

JAMMU: FICCI Ladies Organization (FLO) Jammu-Kashmir-Ladakh (JKL) Chapter, under the leadership of its Chairperson Aarti Chowdhary, today signed a significant Memorandum of Understanding (MoU) with Jammu and Kashmir Bank Ltd. to collaborate on initiatives aimed at advancing women empowerment, financial literacy, and entrepreneurship in the Union Territories of Jammu & Kashmir and Ladakh.

The MoU was formally signed in presence of Sunit Kumar, Divisional General Manager, J&K Bank, Jammu Division, by Chandrika Parihar, Cluster Head, Jammu Cluster-I and AartiChowdhary, Chairperson, FICCI-FLO, JKL Chapter. Among others present on the occasion included Varinder Kour, Asstt General Manager and other senior officials of J&K bank and FLO JKL core team members including Ruchika Gupta Immediate Past Chair, Varuna Anand, National Initiative Head, Partnership & Collaboration, FICCI-FLO, RupikaShahi Vice Chairperson, Nandita Bajaj Secretary and PoojaDewan Joint Secretary.

As leading financial player in the Union Territories, J&K Bank will spearheaded efforts to provide seamless banking solutions, credit facilitation, and digital financial inclusion to women across urban, suburban, and rural areas. This MoU reflects J&K Bank's commitment to reducing gender disparity in financial accessibility, empowering women entrepreneurs, and ensuring sustainable economic progress in the region.

The MoU underscores a joint commitment to promote inclusive growth by empowering women through access to banking services, credit facilities, and skill development opportunities. The strategic partnership between FICCI FLO JKL and J&K Bank will focus on the following key areas including Financial Inclusion Leadership - Enabling financial literacy camps and structured awareness programs to deepen banking penetration among women.

Pioneering Credit Linkage - Facilitating exclusive access to financial products for women-led enterprises, including tailored credit solutions under Tejaswini, UMEED, Mudra, and NRLM schemes.

Digital Banking Excellence - Expanding adoption of J&K Bank mPay, RuPay Cards, and AePS, positioning the bank as a frontrunner in financial technology-driven inclusion.

Comprehensive Social Security Support - Encouraging enrolment in PMJDY, PMJJBY, PMSBY, and APY, securing women's financial future with insurance and pension benefits.

Strategic Market Expansion - Strengthening outreach through mobile banking vans, business correspondents, and CSC tie-ups, ensuring women in unbanked areas are not left behind.

Speaking on the occasion, Aarti Chowdhary, Chairperson, FICCI-FLO JKL, stated, "J&K Bank's initiatives have consistently created pathways for women's financial growth. This MoU marks a pivotal moment in extending banking accessibility to every aspiring woman entrepreneur in the region."

Aarti Chowdhary further said, "This MoU marks a pivotal step toward strengthening the role of women in the economic fabric of our region. By joining hands with J&K Bank, we aim to unlock new opportunities for women entrepreneurs and ensure they have the financial tools, knowledge, and support to thrive."

On this momentous occasion, Sunit Kumar, Divisional General Manager, J&K Bank, emphasized, "Jammu & Kashmir Bank has always been at the forefront of financial inclusion. This partnership with FLO will further amplify our efforts in empowering women with the right financial tools, ensuring that entrepreneurship and financial independence become accessible to all."

The MoU, valid for a period of three years, reaffirms the shared vision of FICCI FLO JKL and J&K Bank in nurturing an inclusive and empowered society through sustainable financial partnerships.