Srinagar: A significant reformative initiative has been taken by the J&K Waqf Board to streamline its revenues accruing from it’s commercial assets. A Memorandum of Understanding to switch over to online mode of rent and donation collection was executed today between J&K Waqf Board & HDFC Bank in presence of Waqf Board Chairperson (Minister of State, J&K) Dr Syed Darakhshan Andrabi, and Branch Banking Head North (Senior Executive Vice President HDFC)  Arun Mediratta, at Sonwar Srinagar today. The MoU is aimed at bringing all the Waqf property users on online platform so that rentals from all commercial assets are received on time through easy-to-use online facility without involvement of Waqf field staff. Simultaneously, HDFC shall put in place e-donations facility through Payment gateways on J&K Waqf Board Website.

Speaking on the occasion, Dr Andrabi highlighted the targets achieved viz-a-viz rent collection & resolution of property disputes in the interest of Waqf revenues over the last one year. The Waqf Chairperson also reiterated the commitment of J&K Waqf Board for mobilisation of donations from the rest of the country and abroad for funding of Health & Education Sector initiatives of Waqf in J&K. On the spot, Dr Andrabi handed over a cheque worth One Crore to the HDFC authorities to mark the beginning of business. partnership with HDFC Bank.