Jammu Tawi, February 25:
J&K Bank on Friday launched its electronic GSS portal for tracking loan applications submitted under government-sponsored (GSS) schemes. Chief Secretary, Dr. Arun Kumar Mehta, inaugurated J&K Bank’s GSS electronic portal for real-time monitoring of credit applications under government-sponsored schemes and described it as an important step towards Transparency in the processing of bank loan applications.
He said this initiative will address long-standing concerns about the processing of GS loan applications at the bank and allow applicants and sponsoring agencies to intervene in a timely manner if and when needed.
Dr. Mehta said that the applicant has the right to know the status of their loan applications, especially the reasons behind the rejection of their application.
He asked the ministry to allow the portal to send SMS alerts to applicants stating the reasons for the rejection of their loan applications immediately after the rejections were made.
Dr. Mehta further said that the Bank will ensure that this portal is mobile and that all 15 centrally sponsored programs are onboarded to the portal by March 15. The Chief Secretary reiterated his earlier instructions to the IT Secretary that the ongoing process of end-to-end digitization of all government programs/deliverables must be completed by March 15.
He advised the Bank to ensure that access to the portal dashboard is also granted to government secretaries within a week for monitoring.
The inauguration was attended by government secretaries, MD, J&K Bank and other senior J&K Bank officials.
Earlier, MD, J&K Bank made a small presentation in which he informed that with the rollout of the J&K Bank GSS electronic portal, the physical processing of applications will cease immediately.
He said loan applications delayed beyond 15 days will generate exception reports for higher authorities to intervene for correction.