Srinagar, Jammu & Kashmir, May 14, 2025 – In a significant step toward supporting its customers, Jammu and Kashmir Bank has facilitated the rapid settlement of insurance claims under the MetLoan & Life Suraksha scheme, providing financial relief to 170 families of deceased borrowers in its Jammu Zone. The initiative underscores the bank’s commitment to customer welfare and financial security during challenging times.
The claims, processed in collaboration with PNB MetLife, were disbursed to clear outstanding loan amounts for families of borrowers who passed away, ensuring they are not burdened with financial liabilities. A symbolic cheque representing the settled amount was displayed during a brief ceremony by J&K Bank’s Zonal Head (Jammu) Rajesh Dubey and PNB MetLife’s Associate Director & Head Irfan Ali Zargar. The event was attended by key officials, including Cluster Heads Arjun Singh Rathore and Chandrika Parihar, Zonal Coordinator Karan Dev, Regional Head Ravi Sharma, and Regional Sales Manager Nisar Ahmad Khan.
Zonal Head Rajesh Dubey emphasized the importance of the MLLS scheme, stating, “By encouraging our customers to opt for MLLS, we ensure their families are protected from financial burdens in unforeseen circumstances. The single-premium, bank-funded option preserves the financial stability of borrowers’ families.” Irfan Ali Zargar added, “Our partnership with J&K Bank continues to deliver on the promise of protection and care for our mutual customers.”
The MLLS scheme, a life insurance product, covers outstanding loan amounts in the event of a borrower’s untimely demise, offering peace of mind to families. This swift settlement comes at a time when Jammu and Kashmir is recovering from recent regional tensions, including the Pahalgam terror attack on April 22, 2025, though no direct connection to the claims was specified. The bank’s proactive approach has been widely praised, reinforcing its role as a pillar of support for the region’s communities.
