Jammu & Kashmir Bank

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J&K Bank functions as a universal bank in Jammu &
Kashmir and as a specialised bank in the rest of the counThe Jammu and Kashmir Bank (Urdu; try. It is also the only private sector bank designated
)was founded on 1 - October - 1938 under letters as RBIs agent for banking business, and carries out the
patent issued by the Maharaja of Jammu and Kashmir, banking business of the Central Government, besides colHari Singh. The Raja had invited the eminent investors lecting central taxes for CBDT. It is the sponsoring bank
to become the founding directors and shareholders of the of J&K Grameen Bank. The bank was incorporated in
bank. The most notable of which were Pandit Sriniwas 1938. [8]
Magotra, Abdul Aziz Mantoo, Pesten jee and the Bhaghat
Family, all of whom acquired major shareholdings.[1][2]
The bank commenced the banking business on 4 July
1939 and was considered the rst of its nature and composition as a State owned bank in the country. The bank
was established as a semi-State Bank with participation in
capital by State and the public under the control of State
Government. In year 1971, the bank had acquired the
status of a scheduled bank and was declared as an A
Class bank by the Reserve Bank of India in 1976.

2 Network

The bank had to face serious problems at the time of

independence when out of its total of ten branches two
branches of Muzaarabad, Rawalakot and Mirpur fell
to the other side of the line of control (now Pakistanadministered Kashmir) along with cash and other assets.
Following the extension of Central laws to the state of
Jammu & Kashmir, the bank was dened as a government company as per the provisions of Indian companies
act 1956. Mushtaq Ahmed is the new Chairman & CEO
of Jammu & Kashmir Bank.

3 References

The banks corporate headquarters is in Srinagar near

TRC (Tourist Reception Centre). The bank is having the
network of 840 computerized bank branches and 1005
ATMs across the country as on 31 March 2016.

[1] About
[2] JKB
[3] Jammu and Kashmir Bank achieves Rs one
lakh crore business - Economic Times.
Articles.economictimes.indiatimes.com (1 April 2013).
Retrieved on 6 December 2013.
[4] JK Bank vaults Rs1 lakh cr biz target Lastupdate:- Tue, 2
Apr 2013 18:30:00 GMT. Greaterkashmir.com (2 April
2013). Retrieved on 6 December 2013.

Dr Haseeb Drabu was chairman and chief executive of

the bank for the period 2005 to 2010.
The bank celebrated its platinum jubilee in the year 2013.
To make the year remarkable, the bank achieved a total
business of Rs 1000 billion and earned a net prot of Rs
10 billion. On 1 April 2013 the bank surpassed the target
of promised Rs 1000 billion business and is condent of
meeting its other annual targets as well in its Platinum
Jubilee year.[3][4]

[5] J&K Bank Q4 net prot up 20% at Rs 250cr. Moneycontrol.com. Retrieved on 6 December 2013.
[6] JK Bank crosses Rs 1000 crore prot mark Lastupdate:Thu, 16 May 2013 18:30:00 GMT. Greaterkashmir.com
(16 May 2013). Retrieved on 6 December 2013.
[7] J&K Bank posts 20.16% increase net prot; announces
500% dividend - Moneylife. Moneylife.in. Retrieved on
6 December 2013.

On 15 May 2013, bank announced that it has achieved the

target of promised Rs 10 billion prot for the FY 2012
13. The bank posted net prot of Rs 10551 million and [8] Grameen Bank, sponsored by J&K Bank. www.jkgb.in.
Retrieved 2016-03-04.
business turnover of Rs 1034 billion for the FY 2012
13. In its Platinum jubilee year, the banks board of directors recommended special dividend of 500% or Rs 50 Recruitment 2015
1

External links
Ocial website

EXTERNAL LINKS

Text and image sources, contributors, and licenses

5.1

Text

Jammu & Kashmir Bank Source: https://en.wikipedia.org/wiki/Jammu_%26_Kashmir_Bank?oldid=735391512 Contributors: Giraedata, Gary, Tabletop, JIP, Sumanch, DVdm, Bgwhite, SmackBot, Chris the speller, OrphanBot, Ohconfucius, Shyamsunder, Dl2000, Doug
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Bilal Bhat, Mazharuddin77 and Anonymous: 40

5.2

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5.3

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