SRINAGAR, Mar 20 : Digital banking witnessed a major surge ahead of Eid-ul-Fitr, with Jammu and Kashmir Bank recording a sharp rise in transactions across its alternate channels, reflecting increased customer activity during the festive period.
According to official data, the bank processed 5.94 crore transactions between March 16 and March 19 through non-branch channels, amounting to ₹8,393.88 crore.
UPI emerged as the leading mode in terms of volume, accounting for over 4 crore transactions worth ₹3,125 crore, highlighting the growing preference for instant digital payments. The bank’s mobile banking platform, mPay, also saw strong usage, handling 1.70 crore transactions amounting to ₹2,991.70 crore.
ATM usage remained significant due to festive cash needs, with 15.50 lakh withdrawals totalling ₹658.57 crore. Meanwhile, e-banking services recorded 83,641 transactions worth ₹1,466 crore, indicating continued reliance on high-value digital transfers.
Kiosk banking channels contributed 65,952 transactions amounting to ₹152.61 crore, underlining the role of assisted digital services in improving access in rural and semi-urban areas.
Bank officials expressed satisfaction over the smooth performance of systems despite heavy transaction volumes, crediting improved digital infrastructure and capacity upgrades. No major or minor disruptions were reported, with services, especially mPay, remaining stable during peak hours.
Customers also noted improved reliability compared to previous festive seasons. “mPay has made transactions much easier. Over the past few days, customers have been making payments without any issues,” said Mudasir Sultan, a trader from Shehr-e-Khaas.
Another trader from north Kashmir said the enhanced services have improved confidence. “I was earlier unsure about the bank’s digital upgrades, but the recent experience has been seamless. Payments are quick and without delays, which has helped businesses during this busy period,” he said.
Sadia Mukhtar from Chadoora also highlighted improved ATM access. “I visited several ATMs over the past few days and was able to withdraw cash each time without any difficulty. This reliability is crucial ahead of Eid,” she said.
However, in terms of overall value, the transactions were lower compared to last year’s Eid period, when the bank recorded a turnover of around ₹13,900 crore.
The data reflects a steady shift towards digital banking in Jammu and Kashmir, with UPI and mobile-based platforms increasingly becoming the preferred modes of transaction, especially during peak periods like Eid. (Agency)
