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Srinagar, Jun 6 (UNI) Jammu and Kashmir Bank and TATA Consultancy Services (TCS), Asia's largest IT company, today signed a memorandum of Understanding (MoU) for working together to create an IT blueprint for the bank.

The two companies will also work together to create a blueprint for enabling technology framework for the state in order to speed up economic development and help develop industry and commerce in the state.

Union Minister for Power Jairam Ramesh, Chairman of J&K Bank Dr Haseeb A Drabuand Mr S Ramadorai, CEO and MD of TCS addressed a joint press conference after the MoU was signed.

Dr Drabu said J&K Bank has always been working hard to help the state realise its economic potential and believe that visits from large, successful business groups like the Tata group, led by TCS will only accelerate this process.

Mr Ramadorai said it has been a great experience for all of us to understand the business realities on the ground in Jammu and Kashmir 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 this area." Earlier the MoU was signed in presence of Mr Ramesh and Dr Drabu and Mr Ramadorai, The objectives of relationship include collaboration on various aspects of technology, including enterprise data warehouse and document management systems, infrastructure consolidation, Management Information Systems, enterprise-wide network planning, and Information security planning and IT asset management.

In addition, both parties will work on financial planning and advisory services as well asproducts for financial inclusion and payment systems.

UNI BAS QAB SBA UCS2107

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