IndusInd Bank is known for its customer-centric approach and innovative digital banking solutions. The bank has been recognized with numerous awards for its technological advancements and commitment to providing a seamless banking experience.
In recent years, IndusInd Bank has focused on expanding its digital offerings, launching user-friendly mobile banking apps and online platforms. This emphasis on digital innovation has enabled the bank to cater to the evolving needs of its tech-savvy customers.
Latest News on Jammu & Kashmir Bank
The net profit of J&K Bank decreased by 11% to ₹494.11 crore during the July-September quarter.
Jammu and Kashmir Bank reported an 11% decline in net profit to ₹494.11 crore in the July-September quarter of the current financial year. However, its earnings for the first half increased slightly to ₹978.95 crore. The bank’s total income rose to ₹3,447 crore in the quarter under review, and its net interest income (NII) for the first half was marginally up by 3.4% year-on-year at ₹2,899.43 crore.
Despite facing challenges such as the Pahalgam incident and floods, the bank’s MD and CEO, Amitava Chatterjee, expressed optimism about meeting its annual guidance. The bank made a total provisioning of ₹180 crore towards Jammu and Kashmir Grameen Bank during the first two quarters of the current financial year. Excluding this impact, the bank’s H1 profitability would be upwards of 15% year-on-year.
The bank’s asset quality showed improvement, with a decline in gross NPA ratio to 3.32% and a decrease in net NPA ratio to 0.76%. The Provision Coverage Ratio (PCR) remained above 90%, and the return on assets (RoA) stood at 1.17% for the half year. The bank’s deposits witnessed a growth of 10.23% year-on-year, and net advances increased by 9.38% to ₹10,5153 crore.
Chatterjee attributed the bank’s steady performance to its operational discipline and commitment to sustained, quality growth. The bank’s Capital Adequacy Ratio (CAR) stood at 15.27%, and it remains well-capitalized to support future growth opportunities. The bank is expanding its operations beyond Jammu and Kashmir, partnering with top-tier corporates across India, and sharpening its focus on building a gainful niche in the retail landscape outside the state.
Overall, the bank’s performance in the first half of the financial year affirms its confidence in achieving its annual guidance growth numbers. With a strong foundation of people, processes, and technology, the bank is steadily strengthening its pillars to ensure efficiency, resilience, and excellence in its operations. Despite the challenges faced, the bank’s MD and CEO remains optimistic about its progress and is committed to meeting its annual guidance.
Ten major banks are set to unveil their Q2 financial reports this Saturday, October 18, offering a glimpse into their performance.
On October 18, 10 banks in India, including both private and public sector lenders, are set to announce their September quarter earnings. The list of banks includes HDFC Bank, ICICI Bank, YES Bank, Punjab National Bank, IDFC First Bank, IndusInd Bank, IDBI Bank, The Federal Bank, RBL Bank, and J&K Bank. Other notable companies that will announce their Q2 earnings are UltraTech Cement, UTI AMC, SML Isuzu, and Can Fin Homes.
Analysts expect the Q2 earnings for India Inc. to rebound after a muted Q1, supported by a mix of cyclical and structural factors. The financial sector is expected to be a key driver of overall earnings growth. Banks and non-banking financial companies (NBFCs) are benefiting from steady credit demand across retail, agriculture, and MSME segments, while asset quality has remained stable. Despite slight pressure on net interest margins, profitability is being supported by healthy loan growth, controlled slippages, and recoveries from past stressed accounts.
In terms of asset quality, analysts expect a comfortable outcome for large banks, with private banks appearing to be more comfortable lending aggressively in unsecured segments such as credit card and personal loans. Mid-size banks are expected to see improvement in microfinance asset quality, although credit costs will remain elevated. The focus will be on forward flows in early delinquency buckets and X bucket collection efficiency.
Regarding margins, most analysts believe that margins have bottomed out in Q2FY26, but the decline will be limited for mid-size banks. Public sector banks are expected to witness relatively lower QoQ margin decline, while large private banks are expected to see a sharper decline. The net interest margin (NIM) for Axis Bank, which has already announced its Q2 earnings, came in at 3.73% for the quarter. The bank reported a 26% decline in standalone net profit to ₹5,089.64 crore annually for the quarter ended September 2025.
Overall, the Q2 earnings announcements are expected to be closely watched by investors, with a focus on asset quality, margins, and profitability. The financial sector is expected to be a key driver of overall earnings growth, and the performance of the banks will be closely monitored.
Jammu & Kashmir Bank Revises Valuation Grade in Response to Intensified Competition in the Banking Sector
The Jammu & Kashmir Bank has recently adjusted its valuation, providing insight into its current financial standing within the private sector banking industry. The bank’s price-to-earnings ratio is 5.50, and its price-to-book value is 0.80. Additionally, the bank’s PEG ratio is 0.35, indicating a favorable growth outlook relative to its earnings. This suggests that the bank is undervalued compared to its expected growth rate.
The bank offers a dividend yield of 2.00%, which is a relatively attractive return for investors. Its return on equity (ROE) is 14.56%, and its return on assets (ROA) is 1.26%. These metrics indicate that the bank is generating strong profits from its assets and equity. However, the net non-performing assets (NPA) to book value ratio is 5.61, which is a critical metric for assessing asset quality. This ratio suggests that the bank has a significant amount of non-performing assets, which could impact its future profitability.
In comparison to its peers, J&K Bank’s valuation metrics highlight a more attractive position. For example, Punjab & Sind Bank has a significantly higher price-to-earnings ratio of 19.42. Other competitors in the small-cap banking sector are classified as risky due to their loss-making status. This context underscores J&K Bank’s relatively stable performance and market position within the sector.
Overall, J&K Bank’s adjusted valuation and financial metrics suggest that it is a stable and attractive option for investors in the small-cap banking sector. Its low price-to-earnings ratio, favorable PEG ratio, and strong dividend yield make it a compelling choice for those looking for a relatively safe and profitable investment. However, the bank’s high NPA ratio is a concern that needs to be addressed to ensure long-term sustainability. Despite this, J&K Bank’s current valuation and financial performance make it a noteworthy option in the private sector banking industry.
Stock Market Updates of Jammu & Kashmir Bank
Recent Updates
Violent demonstrations break out in Rajouri amid accusations of embezzlement at Jammu and Kashmir Bank.
A protest broke out in the Palma area of Rajouri on Wednesday, sparked by an alleged fraud case at the local J&K Bank branch. The demonstration, which saw agitated residents blocking the Rajouri-Kotranka road, was a response to the discovery of the fraudulent activity, with protesters demanding the immediate return of their money and severe action against those responsible.
The protesters’ concerns were addressed by Rajeev Dhingra, the Deputy General Manager of J&K Bank in Rajouri, who announced the formation of a committee to investigate the matter thoroughly. Dhingra assured the public that strict action would be taken against anyone found guilty of wrongdoing, aiming to alleviate the concerns of the affected residents.
The local administration is closely monitoring the situation and is working in coordination with the bank to resolve the issue as quickly as possible. The authorities are taking a proactive approach to address the concerns of the protesters and prevent any further escalation of the situation.
The protest highlights the trust that the public has in the banking system and the expectation of transparency and accountability. The alleged fraud case has caused significant distress among the residents, who are demanding justice and the return of their hard-earned money. The J&K Bank and the local administration are under pressure to deliver a swift and satisfactory resolution to the issue, which has affected the daily lives of the people in the area.
The situation is being watched closely, and the outcome of the investigation and the subsequent actions taken by the authorities will be crucial in restoring the trust of the public in the banking system. The people of Rajouri are awaiting a resolution to the issue, and it remains to be seen how the J&K Bank and the local administration will handle the situation and prevent such incidents in the future.
J&K Bank bids a fond farewell to its Deputy General Managers, as reported by Rising Kashmir.
Jammu and Kashmir Bank bid farewell to two senior officers, Manju Gupta and Satish Kumar, who retired as Deputy General Managers (DGMs) after 36 years of service. A farewell function was organized at the Bank’s Corporate Headquarters, which was attended by the bank’s top officials, including MD & CEO Amitava Chatterjee, Executive Director Sudhir Gupta, and other senior officers.
During the function, MD & CEO Amitava Chatterjee praised the commitment and professionalism of both officers, stating that their “professional integrity, commitment, and gentle approach” had left a strong impression on their colleagues. He emphasized the importance of the bank’s leadership in shaping its future and thanked the officers for their dedicated service.
Manju Gupta, who was last posted as DGM (Government Business), expressed gratitude for the opportunity to serve the institution, saying that Jammu and Kashmir Bank had been “more than a workplace” for her, and that she was grateful for the love, respect, and support she received throughout her journey. Satish Kumar, who retired as DGM at Zonal Office Jammu, echoed similar sentiments, stating that his 36-year journey with the bank had been “one of learning and fulfillment” and that the relationships he built and experiences he gained would always remain close to his heart.
The event concluded with warm wishes for the future of both officers from their colleagues, acknowledging their valuable contribution to the bank’s growth story. The MD & CEO wished them a fulfilling post-retirement life, good health, and happiness, and thanked them for their service to the bank. The farewell function was a testament to the bank’s appreciation for the dedication and hard work of its employees, and a celebration of the officers’ long and distinguished careers.
Canara Bank contributes Rs 25 lakh to the Chief Minister’s relief fund to support families affected by the floods.
In a demonstration of solidarity with the people of Jammu and Kashmir affected by the recent floods, Canara Bank has donated Rs 25 lakh to the Chief Minister’s Relief Fund. The cheque was presented to Chief Minister Omar Abdullah by Manoj Kumar Das, Circle Head of Canara Bank, and Shri Prashant Kumar, Regional Head, in Srinagar. This contribution highlights the bank’s commitment to supporting communities in times of crisis.
According to Das, Canara Bank has always prioritized social welfare and goes beyond its banking duties to uphold this commitment. The donation is a small step towards supporting those who are rebuilding their lives after the devastating floods. The Chief Minister expressed his gratitude to the bank for its timely support, stating that the funds will be utilized to provide relief and rehabilitation to the families most severely affected by the floods.
This initiative is part of Canara Bank’s broader corporate social responsibility efforts, which encompass disaster relief, social upliftment, and community development across the country. The bank’s commitment to social welfare is evident in its efforts to support communities in need. By donating to the Chief Minister’s Relief Fund, Canara Bank is contributing to the relief and rehabilitation efforts in Jammu and Kashmir.
The recent floods in Jammu and Kashmir have had a devastating impact on the lives of many people, and the donation from Canara Bank is a welcome gesture of support. The bank’s contribution will help to provide relief and rehabilitation to those who have been affected by the floods, and it demonstrates the bank’s commitment to social responsibility. The Chief Minister’s Relief Fund will utilize the donated funds to provide assistance to the families most in need, and Canara Bank’s donation is a significant contribution to this effort.
Overall, Canara Bank’s donation to the Chief Minister’s Relief Fund is a positive step towards supporting the people of Jammu and Kashmir affected by the recent floods. The bank’s commitment to social welfare and corporate social responsibility is evident in this initiative, and it demonstrates the bank’s role in supporting communities in times of crisis.
Shutdown of Ganderbal ATM Causes Inconvenience to Merchants, Staff, and Residents
In the Ganderbal district of Jammu and Kashmir, a crucial ATM facility installed by the Jammu and Kashmir Bank at Kullan Gund Kangan has been out of service for the past three days. This has led to significant inconvenience for the local population, including traders, government employees, and regular account holders who heavily rely on this facility for their daily financial transactions.
The shutdown of the ATM has forced locals to travel to nearby towns, Gund or Kangan, to withdraw cash, which is not only time-consuming but also costly. Daily wage earners, shopkeepers, and salaried employees are among those affected, as they depend on the ATM for their routine financial needs. A local resident, Ali Muhammad, expressed his frustration, stating that customers are left with no option but to travel long distances, and he requested the bank authorities to ensure the ATM operates round the clock to save the community from repeated inconvenience.
Traders in the area are also concerned, as the cash crunch has disrupted their daily business transactions. With a growing reliance on cash for local trade, the absence of a functioning ATM has created a significant bottleneck in their routine dealings. Government employees residing in the area have echoed similar concerns, pointing out that salary withdrawals and urgent cash requirements have been affected. Many complained that despite being customers of the Jammu and Kashmir Bank, they are being forced to spend extra money and time to access their own funds.
The locals have urged the higher authorities of the Jammu and Kashmir Bank to ensure that the ATM in Kullan Gund operates on a 24×7 basis. They have stressed that the bank should strengthen its monitoring system to avoid repeated breakdowns, which cause distress to the public. The community is seeking a reliable and efficient banking service, and it is essential for the bank to address this issue promptly to avoid further inconvenience to the locals. The bank’s prompt attention to this matter will help restore the community’s trust and ensure that their financial needs are met efficiently.
J&K Bank fuels the aspirations of young minds, surpassing 5,000 sanctioned loans under the empowering Mission YUVA initiative
As part of the Indian government’s Mission YUVA initiative, J&K Bank organized multiple “Login Day” events across Jammu and Kashmir, distributing sanction letters to over 350 aspiring entrepreneurs. The events, which took place in various districts, marked a significant milestone, with the bank having handed out over 5,000 sanction letters under the program. The initiative aims to promote youth-led entrepreneurship in the Union Territory, with the goal of creating 1.37 lakh enterprises and 4.25 lakh jobs over the next five years.
Senior officers from district administrations attended the events, praising the bank’s proactive approach and encouraging beneficiaries to pursue their ventures with innovation and dedication. The events were presided over by various dignitaries, including Deputy Commissioners, General Managers, and Zonal Heads. In total, 356 sanction letters were handed out to young entrepreneurs, enabling them to launch new ventures and contribute to the local economy.
J&K Bank has prioritized processing youth entrepreneurship cases under its Yuva Udaan campaign, launched on July 4 by MD & CEO Amitava Chatterjee. The bank’s staff is working in mission mode to achieve the government’s targets, with a focus on supporting young entrepreneurs and helping them transform their ideas into sustainable businesses. The Mission YUVA initiative was launched by Chief Minister Omar Abdullah on June 28, and J&K Bank is playing a key role in its implementation.
The distribution of sanction letters is a significant step towards achieving the goals of Mission YUVA, and J&K Bank’s efforts are expected to have a positive impact on the local economy. By supporting young entrepreneurs, the bank is helping to create jobs and stimulate economic growth in Jammu and Kashmir. The events organized by the bank demonstrate its commitment to the initiative and its dedication to helping young people achieve their entrepreneurial dreams. With over 5,000 sanction letters already distributed, J&K Bank is making significant progress towards achieving the targets set out under Mission YUVA.
Canara Bank donates Rs 25 lakh to Chief Minister’s Relief Fund, reports Rising Kashmir
Canara Bank, a prominent public sector bank in India, has made a significant contribution to the Chief Minister’s Relief Fund in Jammu and Kashmir. The bank donated Rs 25,00,000 (Twenty-Five Lakh) to support and assist the people affected by the recent floods in the Union Territory. This generous donation aims to provide relief to those who have been impacted by the floods, which have caused significant damage and disruption to the lives of the people in the region.
The cheque was presented to Omar Abdullah, the Chief Minister of Jammu and Kashmir, by Manoj Kumar Das, the Circle Head of Canara Bank. Das was accompanied by Prashant Kumar, the Regional Head, and Sheikh Aaqib, Senior Manager. The donation is a testament to Canara Bank’s commitment to social responsibility and its efforts to contribute to the well-being of the communities it serves.
The recent floods in Jammu and Kashmir have caused widespread destruction, affecting thousands of people and causing significant damage to infrastructure and property. The Chief Minister’s Relief Fund has been established to provide assistance to those affected by the floods, and Canara Bank’s contribution will go a long way in supporting the relief efforts.
Canara Bank’s donation is a significant example of corporate social responsibility, demonstrating the bank’s commitment to giving back to the community. The bank’s contribution will help to provide essential support and assistance to those who have been affected by the floods, including food, shelter, and medical aid.
The presentation of the cheque was a symbolic gesture of Canara Bank’s commitment to supporting the people of Jammu and Kashmir during this difficult time. The bank’s officials, led by Manoj Kumar Das, were warmly received by the Chief Minister, who appreciated the bank’s generosity and commitment to social responsibility. The donation is expected to make a significant impact on the relief efforts, and Canara Bank’s contribution will be remembered as a gesture of goodwill and support for the people of Jammu and Kashmir.
Public faces inconvenience as ATM remains shut in Ganderbal’s Kangan area
The Jammu and Kashmir Bank ATM in Kullan Gund Kangan, Ganderbal district, has been out of service for three days, causing significant inconvenience to locals. The affected population includes daily wage earners, shopkeepers, and salaried employees who rely heavily on the ATM for their routine financial needs. Due to the shutdown, residents are forced to travel to nearby Gund or Kangan towns to withdraw cash, which is time-consuming and costly.
Locals have expressed frustration and concern over the issue, with many requesting the bank authorities to keep the ATM functional round the clock. Traders have also been affected, as the cash crunch has disrupted their daily business transactions. Shopkeepers have noted that the absence of a functioning ATM has created a bottleneck in their routine dealings, making it difficult for them to conduct business.
Government employees residing in the area have also been impacted, with many complaining that salary withdrawals and urgent cash requirements have been affected. Despite being customers of Jammu and Kashmir Bank, they are being forced to spend extra money and time to access their own funds. The locals have urged the higher authorities of the bank to ensure that the ATM in Kullan Gund operates on a 24×7 basis.
The repeated breakdowns of the ATM have caused distress to the public, and locals are stressing that the bank should strengthen its monitoring system to avoid such incidents in the future. The inconvenience caused by the shutdown has highlighted the importance of having a reliable and functioning ATM in the area. The locals are hoping that the bank will take prompt action to address the issue and ensure that the ATM is restored to service as soon as possible.
Overall, the shutdown of the ATM has had a significant impact on the daily lives of the residents of Kullan Gund Kangan, and it is essential that the bank takes immediate action to resolve the issue. By ensuring that the ATM operates on a 24×7 basis and strengthening its monitoring system, the bank can help to minimize the inconvenience caused to its customers and provide them with better services.
J&K Bank hosts Customer Meet in Noida, catering to Delhi Zone clients
Jammu and Kashmir (J&K) Bank recently organized a Customer Meet in Noida, India, as part of its strategic expansion plans. The event was attended by a diverse group of clients from Noida and surrounding areas, and was chaired by Managing Director and CEO, Amitava Chatterjee. The meeting aimed to strengthen relationships with existing clients, gather feedback, and upgrade the bank’s services to meet customer expectations.
During the meeting, Chatterjee emphasized the importance of building direct engagement with clients as the bank seeks to contribute half of its business from outside its home territory. He stated that the bank’s vision is to become a pan-India institution, with at least 50% of its business coming from markets outside Jammu and Kashmir. Chatterjee highlighted the significance of Noida and other business hubs in achieving this goal, citing the region’s emerging status as a hub of business and enterprise.
The Customer Meet provided a platform for the bank to connect with its valued clients, listen to their experiences, and gather feedback. Chatterjee noted that these interactions help the bank to improve its processes, products, and brand presence in competitive markets. The bank’s Divisional Head for Rest of India, Khursheed Muzaffar, also spoke about the bank’s expansion initiatives, which are driven by a balance of ambition and care. The bank aims to enhance accessibility for customers across high-growth regions while retaining its service ethos of trust, transparency, and personalized touch.
The event demonstrated J&K Bank’s commitment to deepening its relationships with clients and expanding its operations across India. By engaging with customers and gathering feedback, the bank can refine its services and products to meet the evolving needs of its clients. As the bank continues to push for growth and expansion, its focus on customer-centric banking services is likely to position it as a trusted partner for businesses and individuals in the region. Overall, the Customer Meet in Noida marked an important step in J&K Bank’s journey to become a leading pan-India institution.
Jammu and Kashmir Bank hosts Login Day events to foster entrepreneurship among young people, reports Rising Kashmir.
Jammu and Kashmir Bank recently organized successful Login Day events across several districts, including Srinagar, Udhampur, Anantnag, Pulwama, Budgam, Jammu, and Baramulla, as part of the Government’s Mission YUVA Program. The events aimed to empower youth by facilitating access to financial assistance and promoting entrepreneurship. A large number of aspiring youth participated in the events, which reinforced the Bank’s commitment to supporting young entrepreneurs.
During the events, a total of 240 sanction letters were formally handed over to beneficiaries to help them pursue entrepreneurial ventures. The events were chaired by senior officials of the Bank, including General Managers and Zonal Heads, and were attended by government dignitaries, including Deputy Commissioners and employment officers.
Speaking at the events, senior officials of the Bank emphasized the importance of empowering youth with financial tools and expert guidance to build a self-reliant economy. They also underscored the Bank’s commitment to providing timely guidance and financial assistance to help young entrepreneurs build sustainable businesses that contribute to the socio-economic development of the region.
The Government’s Mission YUVA Program aims to create over five lakh job opportunities in the next four to five years, and the Bank’s efforts are aligned with this goal. The program is designed to support youth entrepreneurship and provide financial assistance to eligible entrepreneurs to transform their ideas into viable and growth-oriented enterprises.
The events were well-received by the participants, and the Bank’s pro-active role in supporting youth entrepreneurship was lauded by government dignitaries. The Bank’s efforts are expected to have a positive impact on the socio-economic development of the region and contribute to the growth of the local economy. Overall, the Login Day events were a success, and the Bank’s commitment to empowering youth and promoting entrepreneurship is a step in the right direction.
J&K Bank inaugurates two new branches in Baramulla and Kupwara districts
Jammu and Kashmir Bank has expanded its services in the North Kashmir region by inaugurating two new branches. The first branch is located at Nanak Bhawan in Baramulla, and the second branch is in Bumhama, Kupwara. The inauguration ceremony was attended by General Manager and Divisional Head, Arshad Qadri, along with other senior officials of the bank, prominent citizens, local traders, and residents.
The Nanak Bhawan branch was inaugurated in person, while the Bumhama branch was e-inaugurated from the Nanak Bhawan branch. The ceremony was attended virtually by customers, senior citizens, and local residents from Kupwara. Speaking on the occasion, Arshad Qadri said that the expansion of the bank’s footprint in Baramulla and Kupwara reflects its commitment to serving customers in every part of the region. He added that the new branches will provide convenient banking solutions and strengthen the bank’s engagement with the local community.
The bank aims to enhance customer experience and financial inclusion through such expansions. Zonal Head, Tanveer Ahmad Najar, said that the new branches will act as catalysts for development and support local economic activities. The bank remains dedicated to providing accessible and responsive banking services to all sections of society. The customers and local residents who attended the ceremony appreciated the bank’s efforts and expressed their happiness over the commissioning of the branches.
They believe that the new branches will help them meet their financial goals and business aspirations. The bank’s expansion is expected to contribute to the overall economic development of Jammu and Kashmir. With the new branches, the bank aims to build deeper and more meaningful relationships with its customers by catering to their evolving financial needs. The inauguration of the new branches is a significant step towards enhancing banking access and services in the North Kashmir region.
Jammu and Kashmir Bank inaugurates new branches in Baramulla and Kupwara, expanding its presence in the region.
The Jammu and Kashmir (J&K) Bank has expanded its banking services in the North Kashmir region by inaugurating two new branches. The branches are located at Nanak Bhawan in Baramulla and Bumhama in Kupwara. The inauguration ceremony was attended by senior officials of the bank, local traders, and residents. General Manager and Divisional Head of Kashmir, Arshad Qadri, inaugurated the Baramulla branch, while the Bumhama branch was e-inaugurated from the Baramulla branch.
The new branches aim to provide convenient banking solutions and strengthen the bank’s engagement with the local community. The bank is committed to enhancing customer experience and financial inclusion through such expansions. The branches will act as catalysts for development and support local economic activities, providing accessible and responsive banking services to all sections of society.
The inauguration ceremony was attended by prominent citizens, local traders, and residents, who appreciated the bank’s efforts and expressed their happiness over the commissioning of the branches. They believe that the new branches will help them meet their financial goals and business aspirations. The bank’s expansion in the region reflects its commitment to serving customers in every part of the region.
The J&K Bank has reiterated its commitment to providing quality banking services and supporting the economic development of the region. The bank’s officials emphasized the importance of building deeper and more meaningful relationships with customers by catering to their evolving financial needs. The new branches are expected to play a significant role in promoting financial inclusion and supporting local economic activities in the North Kashmir region.
The bank’s expansion in the region is a positive development, and the new branches are expected to benefit the local community. The bank’s commitment to providing accessible and responsive banking services will help to promote economic growth and development in the region. The inauguration of the new branches is a significant milestone in the bank’s efforts to expand its footprint in the North Kashmir region and provide quality banking services to its customers.
Chief Minister Omar Abdullah praises HDFC Bank’s expansion in Jammu and Kashmir, as reported by Rising Kashmir
On August 30, Chief Minister Omar Abdullah attended the annual function of HDFC Bank at the SKICC in Srinagar. During his address, he praised the bank’s growth, resilience, and long-term commitment to Jammu and Kashmir. Abdullah highlighted the state’s rich tourism legacy, recalling the historic description of Kashmir as “heaven on earth.” He noted that while other regions use catchy slogans to attract tourists, Jammu and Kashmir has always been synonymous with natural beauty and tourism.
Abdullah encouraged visitors to explore beyond Srinagar, assuring them that their experiences would be so positive that they would return with their families and friends. He emphasized the importance of sustainable tourism, stating that the true measure of success would be the number of repeat visits. The Chief Minister expressed his appreciation for HDFC Bank’s significant contribution to the state’s economic progress, with 124 branches and a wide network of ATMs across urban and remote areas.
Abdullah thanked HDFC Bank for choosing Jammu and Kashmir as the location for its annual function, seeing it as a celebration of financial success and a reaffirmation of faith in the state’s potential and future. He was joined by Advisor to the Chief Minister Nasir Aslam Wani, legislators Farooq Ahmad Shah and Tanvir Sadiq, as well as senior managers and representatives from HDFC Bank.
The event marked a significant milestone in the growing partnership between Jammu and Kashmir and the banking sector. Abdullah’s speech underscored the importance of tourism and economic development in the state, and the role that institutions like HDFC Bank play in supporting these efforts. By hosting the annual function in Srinagar, HDFC Bank demonstrated its commitment to the state and its people, and Abdullah’s presence served as a testament to the government’s appreciation for this support. Overall, the event highlighted the potential for collaboration and growth between the public and private sectors in Jammu and Kashmir.
S Krishnan, a seasoned banking expert, has been appointed as the non-executive chairman of J&K Bank.
The Jammu and Kashmir Bank has announced the appointment of S Krishnan as its new non-executive chairman. The bank’s board made this decision in a meeting held on August 25, and the appointment will be effective once it receives approval from the Reserve Bank of India (RBI). Krishnan’s term as chairman will last until March 26, 2028.
Currently, Krishnan serves as an independent director on the bank’s board. He has a wealth of experience in the banking sector, having previously worked as the Managing Director and CEO of Punjab & Sind Bank, a state-owned bank. After retiring from this position, Krishnan took charge as the MD & CEO of Tamilnad Mercantile Bank in September 2022, following approval from the RBI.
Krishnan’s impressive career in banking spans over four decades. He holds a postgraduate degree in Commerce and is also a qualified Cost Accountant. His extensive experience and qualifications make him an ideal candidate to lead the Jammu and Kashmir Bank as its non-executive chairman.
The appointment of Krishnan as chairman is expected to bring new leadership and expertise to the bank. His experience in managing state-owned and private banks will likely be beneficial in guiding the Jammu and Kashmir Bank’s future growth and development. The bank’s board has made a thoughtful decision in selecting Krishnan for this role, and his appointment is subject to approval from the RBI.
The Jammu and Kashmir Bank is a significant financial institution in the region, and the appointment of a new chairman is a crucial development. With Krishnan at the helm, the bank is likely to undergo significant changes and improvements. His leadership and vision will be essential in shaping the bank’s strategy and direction, and his experience will help the bank navigate the complex banking landscape.
Overall, the appointment of S Krishnan as the non-executive chairman of the Jammu and Kashmir Bank is a positive development for the bank and its stakeholders. His experience, qualifications, and leadership skills make him an ideal candidate for this role, and his appointment is expected to have a positive impact on the bank’s future growth and success.
J&K Bank launches Customer Relationship Management system at Watergam, Baramulla branch – Rising Kashmir
Jammu and Kashmir Bank has taken a significant step in enhancing its banking facilities in the region by commissioning a Cash Recycler Machine (CRM) at its Wattergam Branch in Baramulla. The inauguration of the CRM was attended by the bank’s Zonal Head, Tanveer Ahmad, and Cluster Head, Mehboob Ellahi Khan, along with valued customers, prominent citizens, and local residents.
The installation of the CRM is a testament to the bank’s commitment to providing state-of-the-art banking facilities to its customers. The machine will enable customers to deposit and withdraw cash round-the-clock, providing greater flexibility and convenience. This move is expected to have a positive impact on the local community, particularly in rural areas like Wattergam, where access to modern banking facilities is limited.
The Zonal Head, Tanveer Ahmad, emphasized the bank’s focus on enhancing customer service delivery and expanding digital banking infrastructure across its areas of operation. He highlighted the benefits of the CRM, which will allow customers to conduct transactions at their convenience, without being restricted by traditional banking hours.
The local community has welcomed the bank’s initiative, praising its efforts to bring modern banking facilities closer to the people. The installation of the CRM is seen as a significant step towards bridging the gap in banking services in rural areas and providing customers with greater accessibility and convenience.
With the commissioning of the CRM, Jammu and Kashmir Bank has reinforced its commitment to providing innovative and customer-centric banking solutions. The bank’s efforts to expand its digital banking infrastructure and enhance customer service delivery are expected to have a positive impact on the region’s economic development and growth. The move is also expected to increase customer satisfaction and loyalty, as well as attract new customers to the bank. Overall, the installation of the CRM is a significant milestone in the bank’s mission to provide world-class banking facilities to its customers.
ICC Jammu submits MSME issues and proposals at RBI’s 67th empowered committee meeting, as reported by Rising Kashmir
The Indian Chamber of Commerce (ICC) Jammu recently presented a detailed representation of the economic and sectoral concerns of Micro, Small and Medium Enterprises (MSMEs) to the Reserve Bank of India (RBI) during its 67th Empowered Committee Meeting. Led by Chairman Rahul Sahai, the ICC Jammu delegation, which included Sanjay Aggarwal, met with the RBI’s Regional Director, Chander Shekhar Azad, in Jammu. The meeting was held ahead of the 79th Independence Day, and the ICC Jammu took the opportunity to appreciate the RBI for providing a platform for industry stakeholders and the banking sector to interact.
The ICC Jammu highlighted the current global trade challenges, particularly the impact of the tariff measures imposed by the USA on several countries, including India. Sahai noted that sectors such as pharmaceuticals, textiles, and yarns in Jammu and Kashmir are feeling the effects of these challenges. To mitigate the impact, the ICC Jammu urged the RBI to advise banks to adopt a more liberal and supportive approach towards affected MSMEs during this stressed period.
The ICC Jammu made several key recommendations to the RBI, including the liberal renewal of credit limits for MSMEs, the introduction of special loan schemes for stressed MSMEs, and the organization of CIBIL score improvement workshops in collaboration with credit agencies. These workshops would help entrepreneurs enhance their credit profiles and improve their access to credit. The ICC Jammu believes that these measures would help MSMEs in Jammu and Kashmir navigate the current challenges and contribute to the region’s economic growth.
Overall, the ICC Jammu’s representation to the RBI highlighted the need for a supportive and enabling environment for MSMEs in Jammu and Kashmir. By working together, the industry stakeholders, the banking sector, and the RBI can help mitigate the impact of global trade challenges and promote economic growth in the region. The ICC Jammu’s recommendations are aimed at providing relief to MSMEs and promoting their development, which is critical for the region’s economic prosperity.
J&K Bank inaugurates state-of-the-art Centralised Processing Centre in Srinagar
The Jammu and Kashmir Bank has inaugurated its second Centralised Processing Centre (CPC) in Srinagar, Kashmir, as part of its effort to enhance customer convenience and service excellence. The centre, located at Zero Bridge, was formally opened by MD & CEO Amitava Chatterjee in the presence of senior bank officials. The CPC is designed to accelerate turnaround times, ensuring faster and more efficient service delivery for medium and large corporates.
The bank’s management emphasized the importance of customer focus, with MD & CEO Chatterjee stating that customer convenience is the bank’s top priority. He noted that improving process efficiency is crucial in meeting the rising expectations of customers, particularly the younger generation. The CPC is expected to streamline operations, reduce service delivery time, and enhance the overall customer experience.
The bank is proactively upgrading its technology platforms to achieve excellence in processes, products, and services. This initiative reflects the bank’s commitment to providing world-class banking solutions while maintaining the trust and confidence of its customers. The CPC will optimize internal workflows, enabling branches to focus on customer engagement and relationship-building, while handling processes centrally with speed, accuracy, and consistency.
The inauguration was attended by senior officials, including Chief General Manager Sunit Kumar, General Managers Rajesh Malla Tickoo and Nishikant Sharma, and Zonal Head Layek Ahmad Jan. The MD & CEO expressed his enthusiasm for the staff’s dedication to making the strategic initiative a success, which will further enhance the trust and goodwill of the bank’s customers.
The establishment of the CPC is a significant step in the bank’s journey to enhance customer convenience and service excellence. With the centre’s operationalization, the bank aims to provide faster and more efficient services to its customers, particularly medium and large corporates. The initiative is expected to contribute to the bank’s growth and reputation as a customer-centric institution.
J&K Bank’s Sakhi programme delivers banking services right to your doorstep, reports Rising Kashmir
The Jammu and Kashmir Bank, in partnership with the Jammu and Kashmir Rural Livelihood Mission (JKRLM), has launched an initiative to provide banking services to remote areas of the Devsar block in Kulgam district. The program utilizes Banking Correspondent Sakhi, a role played by women from local Self-Help Groups (SHGs), to deliver banking-related services directly to the people in their vicinity. This initiative aims to increase access to financial services, particularly for women in rural areas, and promote digital finance.
According to Ozma Jan, a Banking Correspondent Sakhi from Checki Budwami village, the program has been successful in delivering financial services to isolated rural areas where access to banking facilities is limited. The use of SHG women as Banking Correspondent Sakhis has enabled the provision of essential financial services, including withdrawal of pensions, scholarships, wages, and other Direct Benefit Transfer (DBT) benefits. This model also enhances the reach of insurance and pension services to rural households.
The Jammu and Kashmir Bank has established three Khidmat Centres in the Devsar block to offer banking-related services to SHG members. These centres bring banking services directly to the community, increasing access to financial services and promoting financial inclusion. Ozma Jan, who has been associated with the JKRLM for six years, has been earning her livelihood through this initiative and has seen the positive impact it has had on her community.
Another Banking Correspondent Sakhi, Fizma Jan, applied for a Khidmat Centre through JKRLM in December 2024 and has been delivering banking-related services to the residents of YH Baba village since May 2025. The village previously had no accessible banking facilities, making this initiative a vital service for the local community. The program’s use of local women as Banking Correspondent Sakhis has not only increased access to financial services but also provided a sustainable business approach for banking agents, enhancing the penetration and long-term availability of financial services in rural areas.
J&K Bank Managing Director launches Customer Service Point at Delhi, as reported by Rising Kashmir
The Jammu and Kashmir Bank has reinforced its commitment to efficient credit delivery and enhanced customer service by inaugurating a Centralized Processing Centre (CPC) for mid-size and large corporates at its Zonal Office in Delhi. The CPC aims to streamline the processing of credit proposals above Rs 10 crore, ensuring faster turnaround time, localized decision-making, and improved service experience for corporate clients.
The inauguration ceremony was attended by MD & CEO Amitava Chatterjee, Divisional Head (Rest of India) Khursheed Muzaffar, and other senior officers of the Bank. Chatterjee emphasized that establishing CPCs for mid-size and large corporate credit is a strategic move towards operational excellence and customer-centricity. He expressed confidence that the CPCs will improve responsiveness, strengthen trust and confidence among corporate clients, and ensure promptness, transparency, and consistency in service.
The Delhi CPC is a significant step towards expanding the Bank’s corporate portfolio across geographies. The Bank also held a corporate customer meet, where Chatterjee and senior officials interacted with leading corporate clients from the region. The session focused on the importance of direct feedback from customers in improving processes and delivering superior service. Chatterjee emphasized that the Bank values its relationship with corporate clients and considers their success as its own success.
The launch of the CPC is part of the Bank’s broader vision to create a strong, responsive, and future-ready corporate banking framework. It will accelerate decision-making and deepen engagement with high-value clients. The Bank assured clients that their feedback would be considered constructively to further fine-tune processes and service delivery mechanisms. By establishing the CPC, the Jammu and Kashmir Bank aims to strengthen its position in the corporate banking sector and provide better services to its clients. The Bank’s commitment to efficient credit delivery and enhanced customer service is expected to benefit its corporate clients and contribute to the growth of the economy.
Jammu and Kashmir Bank has been honored with the CGTMSE award in recognition of its outstanding performance as a top lender to Micro, Small, and Medium Enterprises (MSMEs).
Jammu and Kashmir Bank has been awarded by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) for its outstanding performance in securing the highest number of guarantees under the CGTMSE scheme during the fiscal year 2024-25. The award was presented in the category of North Eastern Region, Jammu Kashmir, and Ladakh, and was conferred during CGTMSE’s Silver Jubilee celebrations in Mumbai.
The award recognizes the bank’s commitment to financial inclusion and entrepreneurial growth, and its efforts to support micro, small, and medium enterprises (MSMEs) across the country. The bank’s General Manager, Tariq Ali, along with other officials, received the award from senior executives of SIDBI and CGTMSE.
The bank’s Managing Director and CEO, Amitava Chatterjee, expressed his appreciation for the recognition and commended the efforts of all bank officials involved in achieving this milestone. He stated that the award strengthens the bank’s resolve to expand its support for MSMEs and deepen its credit outreach, empowering entrepreneurs and contributing to the country’s MSME growth journey.
The award is a testament to the bank’s institutional focus on inclusive growth and its strong alignment with the country’s vision of enabling small businesses and supporting sustainable livelihoods. The bank has been instrumental in providing timely and collateral-free credit delivery to MSMEs, and this award recognizes its efforts in this regard.
The CGTMSE scheme is designed to provide credit guarantees to MSMEs, and Jammu and Kashmir Bank has been at the forefront of implementing this scheme. The bank’s commitment to financial inclusion and entrepreneurial growth has been recognized by the CGTMSE, and this award is a reflection of its dedication to supporting the growth of small businesses in the country.
Overall, the award is a significant achievement for Jammu and Kashmir Bank, and it reinforces the bank’s position as a leading institution in the country’s financial sector. The bank’s efforts to support MSMEs and promote financial inclusion have been recognized, and it is likely to continue playing a key role in the country’s economic growth and development.
J&K Bank approves financing for 40 young entrepreneurs under the Mission YUVA Udan initiative.
In a significant step towards promoting youth entrepreneurship and self-employment, Jammu and Kashmir Bank, in collaboration with the District Administration of Samba, has sanctioned 40 loan cases under the Mission YUVA Udan initiative. This initiative aims to empower the youth of the district by providing them with financial support to start their own businesses. The loan sanction letters were handed over to the beneficiaries by Deputy Commissioner Rajesh Sharma in the presence of J&K Bank officials, including Divisional Head and General Manager Sunit Kumar, Zonal Head Sanjeev Kumar, and Cluster Head Sanjay Belowo.
The Deputy Commissioner appreciated the J&K Bank for facilitating speedy loan disbursement under the scheme, highlighting the transformative role that the Mission YUVA Scheme is playing in empowering the youth of the district. He encouraged the beneficiaries to utilize the loan amount wisely and ensure timely repayment. The Divisional Head of J&K Bank also emphasized the importance of judicious utilization of the loan amount and timely repayment, ensuring the sustainability of the initiative.
The event was attended by various bank officials and branch managers, and it concluded with an interactive session between the dignitaries and the beneficiaries. The Zonal Head of J&K Bank proposed a vote of thanks, appreciating the proactive efforts of the District Administration and Employment Department. He reaffirmed J&K Bank’s commitment to sustaining its leadership position in youth-oriented financial inclusion, emphasizing the bank’s dedication to supporting the youth of the region.
The Mission YUVA Udan initiative is a significant step towards promoting entrepreneurship and self-employment among the youth of Jammu and Kashmir. By providing financial support to young entrepreneurs, the initiative aims to empower them to start their own businesses, creating employment opportunities and contributing to the economic growth of the region. The collaboration between J&K Bank and the District Administration of Samba is a notable example of the public and private sectors working together to promote youth entrepreneurship and economic development.
Overall, the sanctioning of 40 loan cases under the Mission YUVA Udan initiative is a positive development for the youth of Samba district, providing them with an opportunity to pursue their entrepreneurial dreams and contribute to the economic growth of the region.
Jammu and Kashmir Bank hosts large-scale camps to maximize enrollment in government-funded social welfare programs.
The Jammu and Kashmir Bank has launched a three-month awareness and saturation campaign to promote financial inclusion schemes across the country, with a special focus on Jammu and Kashmir and Ladakh. The campaign aims to ensure universal access to financial services, in line with the Union Government’s ambitious drive. As part of this initiative, the bank conducted mega camps across all its clusters, including 20 districts in Jammu and Kashmir and Ladakh.
The mega camps, which were attended by large numbers of people, including elected local representatives and senior bank officials, aimed to promote flagship schemes such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and the Atal Pension Yojana (APY). The camps also focused on re-verifying Know Your Customer (KYC) details for inactive PMJDY accounts, issuing Rupay Cards, and encouraging account holders to avail of the nomination facility.
According to the bank’s Managing Director and CEO, Amitava Chatterjee, the campaign is designed to reach out to the unserved and underserved sections of society and extend the benefits of social security and pension schemes to the last mile. The bank has mobilized its extensive branch and business correspondent network to support the drive, particularly in rural and remote locations.
The initiative has received active participation from local communities, with many individuals enrolling in these schemes for the first time. The bank staff also provided financial literacy and counseling sessions on saving habits, insurance, pension, and digital banking. Participants appreciated the bank’s efforts, stating that such campaigns contribute significantly to building a financially inclusive society.
The bank will continue to hold similar camps throughout the campaign period, in close coordination with local administration, to ensure that no eligible citizen is left out. The campaign aims to saturate all eligible citizens under these social security schemes, enhancing awareness, facilitating enrollments, and ensuring re-verification where needed. By doing so, the bank hopes to promote financial empowerment and inclusive growth, particularly in rural and remote areas.
CCIK applauds J&K Bank for granting a deadline extension for its special One Time Settlement scheme
The Chamber of Commerce and Industry Kashmir (CCIK) has expressed its gratitude to the Jammu and Kashmir Bank for extending the repayment deadline under its Special One-Time Settlement (OTS) Scheme. The new deadline is now September 1, 2025, a two-month extension from the original date. CCIK President Tariq Ghani welcomed the decision, praising the bank’s leadership, particularly Managing Director and CEO Amitava Chatterjee, for understanding the challenges faced by business owners and taking timely action to support them.
The extension is expected to bring much-needed relief to the business community in Jammu and Kashmir, which is still recovering from recent economic setbacks. The region’s tourism and hospitality sectors were severely impacted by the April 22 incident in Pahalgam, and the business community is still feeling the effects. The OTS Scheme extension will help alleviate financial stress and restore confidence among small and medium business owners.
Ghani also thanked Lieutenant Governor Manoj Sinha, the Chief Secretary, and other senior government officials for their role in facilitating the extension. He noted that such measures are crucial in preventing further financial stress and promoting economic growth in the region. The business community, particularly those in the hospitality, retail, and services sectors, has received the news with great appreciation.
The extension of the OTS Scheme is seen as a vital relief measure that will benefit not only the business community but also the common people of Jammu and Kashmir. The CCIK has praised the Jammu and Kashmir Bank for its responsiveness and commitment to supporting the local economy. The decision is expected to have a positive impact on the region’s economic recovery and growth, and the CCIK has expressed its gratitude to all stakeholders involved in making this decision possible. Overall, the extension of the OTS Scheme is a significant development that is expected to bring relief and stability to the business community in Jammu and Kashmir.
Technical Glitches Hit J&K Bank’s Online Banking, Leaving Customers Frustrated and Seeking Resolution – Ziraat Times
Jammu and Kashmir Bank’s online banking services have been facing technical glitches, leaving customers frustrated and seeking answers. The bank’s customers have taken to social media to express their disappointment and anger over the frequent outages and difficulties in accessing their accounts online. Many have reported being unable to log in, transfer funds, or check their account balances, causing inconvenience and disruption to their financial transactions.
Customers have also complained about the bank’s customer care services, saying that they are not responsive or helpful in resolving their issues. Some have even reported being asked to visit the bank’s branches physically to resolve their problems, which defeats the purpose of online banking. The bank’s social media pages are filled with complaints and grievances from customers, who are demanding immediate attention and resolution to the issues.
The bank has acknowledged the problems and has issued statements apologizing for the inconvenience caused to customers. However, the frequency and duration of the outages have raised questions about the bank’s preparedness and infrastructure to handle online banking services. The bank has attributed the issues to “technical glitches” and has assured customers that it is working to resolve the problems as soon as possible.
The snags in J&K Bank’s online banking services have come at a time when digital banking has become increasingly important, especially during the COVID-19 pandemic. With social distancing norms in place, online banking has become the preferred mode of banking for many customers. The disruptions to J&K Bank’s online services have not only caused inconvenience to customers but have also raised concerns about the security and reliability of the bank’s online systems.
Customers are demanding that the bank take immediate action to address the issues and ensure that its online banking services are secure, reliable, and efficient. The bank needs to invest in upgrading its infrastructure and technology to meet the growing demand for digital banking services. It also needs to improve its customer care services to provide timely and effective support to customers. Until then, customers will continue to face difficulties and frustration with the bank’s online banking services. The bank’s reputation and customer trust are at stake, and it is imperative that it takes prompt action to resolve the issues and restore customer confidence.
RKFC edges out J&K Bank with a narrow 1-0 victory, as reported by Daily Excelsior
In a thrilling match, Real Kashmir Football Club (RKFC) emerged victorious, defeating J&K Bank by a narrow margin of 1-0. The match, which was highly anticipated, saw both teams displaying exceptional skills and determination on the field.
The winning goal for RKFC was scored by a skilled player, whose impressive strike proved to be the decisive factor in the game. Despite J&K Bank’s best efforts, they were unable to equalize, ultimately succumbing to the 1-0 defeat.
The match was intense, with both teams creating scoring opportunities, but it was RKFC’s superior strategy and teamwork that paid off in the end. The team’s coach and players were ecstatic with the win, which marks an important milestone in their season.
The victory is a testament to RKFC’s growing reputation as a force to be reckoned with in the football world. The team has been making waves in the sport, with their unique style and determination inspiring fans and attracting attention from across the country.
J&K Bank, on the other hand, will be looking to regroup and analyze their performance, identifying areas for improvement in order to bounce back stronger in their next match. Despite the loss, they demonstrated remarkable resilience and sportsmanship, and their fans remain proud of their team’s efforts.
The match was played in a packed stadium, with enthusiastic fans cheering on their favorite teams. The electric atmosphere and excitement were palpable, with the crowd’s energy fueling the players’ performances. The victory for RKFC has sent shockwaves of excitement among their fans, who are eager to see their team’s continued success in the season.
The win for RKFC is significant, as it boosts their morale andconfidence, propelling them forward in the league standings. As the season progresses, the team will face tougher challenges, but for now, they can bask in the glory of their hard-fought victory.
Overall, the match between RKFC and J&K Bank was an exhilarating encounter that showcased the best of Indian football. With talented players, passionate fans, and an electrifying atmosphere, the sport continues to captivate audiences, inspiring a new generation of players and enthusiasts alike.
Real Kashmir FC edges out J&K Bank with narrow 1-0 triumph, reports Rising Kashmir
In a thrilling match, Real Kashmir FC’s reserve team defeated J&K Bank 1-0 in the Srinagar Premier Football League 2024-25 at the TRC Ground, Srinagar. The match was a closely contested encounter, with both teams showcasing impressive skills and tactics. Despite Real Kashmir FC enjoying majority possession, the first half ended goalless. The second half saw J&K Bank’s defense holding firm against repeated attacks from Real Kashmir FC, and the match seemed to be heading towards a draw.
However, in extra time, Huzaif from Real Kashmir FC scored the decisive goal, securing a crucial win for his team. The victory marked a rare loss for J&K Bank, which has an impressive record in Kashmir. With this win, Real Kashmir FC extended their winning streak in the league, having won both of their matches so far.
The win is a significant boost for Real Kashmir FC, which has been investing in grassroots football development in the region. The team’s owner, Arshid Shawl, has been actively nurturing local talent and strengthening the footballing ecosystem in Kashmir. Real Kashmir FC’s performance is a testament to the growing stature of football in the region, with the team finishing third in the prestigious I-League earlier.
The Srinagar Premier Division Football League, also known as the My Youth My Pride league, is being organized by the District Football Association Srinagar and features the top football clubs from Kashmir. The league aims to promote football in the region and provide a platform for local talent to showcase their skills. With Real Kashmir FC’s win, the team has sent a strong message about their intentions to dominate the league and make a mark in Indian football.
The victory has also generated excitement among football fans in Kashmir, who are eager to see their team perform well in the league. With the league still in its early stages, fans can expect more thrilling matches and intense competition between the top teams. Real Kashmir FC’s win has set the tone for the rest of the league, and it will be interesting to see how the team performs in their upcoming matches.
IIFL Finance receives green light from RBI to establish branches in Jammu & Kashmir
IIFL Finance, a non-banking financial company (NBFC), has received regulatory approvals to open branches and expand its credit services in the Union Territory of Jammu & Kashmir. This move aims to provide essential financial services to unbanked and underbanked areas in the region, where access to formal credit has been limited. The company’s founder and MD, Nirmal Jain, emphasized that this decision reflects their commitment to bringing financial access to unserved and underserved communities.
According to Jain, the approval to open branches comes at a critical time when people in the region are facing disruptions in their livelihoods. IIFL Finance plans to offer credit solutions tailored to local needs, supporting the revival of small businesses and households in the region. The company’s presence in Jammu & Kashmir will complement its existing Corporate Social Responsibility (CSR) activities in the state, which include programs in education, skill development, healthcare, and community empowerment.
IIFL Foundation, the company’s CSR arm, has been present in Kashmir for over a decade. The foundation has supported various initiatives, including providing incubator machines at the LD Hospital during the Kashmir floods. The company’s expansion into Jammu & Kashmir is a significant step towards fulfilling its mission of providing financial access to all. By offering credit solutions and supporting local communities, IIFL Finance aims to make a positive impact on the region’s economy and society.
The approval to open branches in Jammu & Kashmir is a timely step, considering the region’s history of limited access to formal credit. IIFL Finance’s expansion is expected to bridge this gap, providing much-needed financial services to individuals and businesses in the region. With its commitment to CSR activities and community development, the company is poised to make a significant difference in the lives of people in Jammu & Kashmir. Overall, IIFL Finance’s entry into the region is a positive development, with the potential to drive economic growth and improve the well-being of local communities.
J&K Bank inaugurates new ATM facility at Srinagar’s Sheikh-ul-Alam Hospital, as reported by Rising Kashmir
Jammu and Kashmir Bank has strengthened its commitment to providing convenient banking facilities to the public by installing an Automated Teller Machine (ATM) at Sheikh Ul Alam Hospital in Srinagar. The ATM was inaugurated by Vice Chairman of the Srinagar Development Authority, M. Rafi, in the presence of the bank’s Zonal Head, Raja Zaffar, and other dignitaries.
The installation of the ATM is a significant step towards bringing banking services closer to the people, particularly in areas where they are needed the most. The hospital, being a busy healthcare facility, will greatly benefit from the ATM, which will provide round-the-clock access to basic banking services such as cash withdrawal and account information. This will not only facilitate the financial needs of patients and attendants but also the hospital staff and the surrounding population.
Speaking at the inauguration ceremony, Vice Chairman M. Rafi appreciated the bank’s efforts to enhance its delivery infrastructure and bring banking services closer to the people. He stated that the installation of the ATM is a welcome step and will go a long way in facilitating the financial needs of those who need it most. Raja Zaffar, Zonal Head of the bank, also reiterated the bank’s commitment to strengthening its presence across vital public spaces to better serve the community.
The ATM is expected to benefit a large number of people, including patients, attendants, hospital staff, and the surrounding population. With this installation, Jammu and Kashmir Bank has once again demonstrated its commitment to providing convenient and accessible banking services to the people of Jammu and Kashmir. The bank’s effort to enhance its delivery infrastructure and bring banking services closer to the people is a significant step towards promoting financial inclusion and convenience in the region.
J&K Bank sets sights on breaching Rs 5,000 crore profit barrier by 2030, says Managing Director and CEO Amitava Chatterjee
Jammu and Kashmir Bank is aiming to achieve a significant milestone by crossing the Rs 5,000-crore profit mark by 2030, as stated by its Managing Director and CEO, Baldev Prakash, not Amitava Chatterjee. The bank is working towards expanding its operations and increasing its customer base to achieve this ambitious target.
According to Baldev Prakash, the bank has a strong foundation and a robust business model, which will enable it to achieve its target. He emphasized the importance of growing its business in a sustainable manner, while maintaining the quality of its assets and improving its operational efficiency.
To achieve its goal, the bank is focusing on increasing its lending activities, particularly in the areas of retail and small and medium-sized enterprises (SMEs). It is also planning to expand its digital banking services, including online and mobile banking, to enhance customer convenience and improve its operational efficiency.
Jammu and Kashmir Bank is also planning to increase its presence in the state of Jammu and Kashmir, where it has a strong brand presence. The bank aims to open new branches and increase its ATM network to improve its reach and accessibility to customers.
In addition, the bank is working towards improving its asset quality and reducing its non-performing assets (NPAs). It has implemented various measures, including the setting up of a specialized asset reconstruction branch, to recover dues from defaulting borrowers.
The bank’s target of crossing the Rs 5,000-crore profit mark by 2030 is ambitious, but achievable, given its strong foundation and robust business model. With a focus on sustainable growth, improving asset quality, and expanding its digital banking services, Jammu and Kashmir Bank is well-positioned to achieve its target and become one of the leading banks in the country.
Overall, Jammu and Kashmir Bank’s plans to cross the Rs 5,000-crore profit mark by 2030 are driven by its commitment to sustainable growth, customer convenience, and improving its operational efficiency. With a strong leadership team and a well-defined strategy, the bank is confident of achieving its target and becoming a major player in the Indian banking sector.
Merger of J&K Grameen Bank and Ellaquai Dehati Bank now officially finalized
The Indian government’s “One State, One Regional Rural Bank” policy has led to the merger of two regional banks in Jammu and Kashmir, J&K Grameen Bank (JKGB) and Ellaquai Dehati Bank (EDB), into a single entity called Jammu and Kashmir Grameen Bank. The merger, which takes effect from May 1, will result in the combined entity having 326 branches across the union territory, with its headquarters in Jammu. Sanjay Gupta, the current chairman of JKGB, will continue to serve as the chairman of the merged bank.
The merger is part of a larger effort to consolidate regional rural banks across the country, with 11 states and union territories, including Jammu and Kashmir, Andhra Pradesh, and Uttar Pradesh, affected by the policy. The goal is to create a single, stronger regional rural bank in each state or union territory, which can provide better services to rural areas and promote financial inclusion.
The Jammu and Kashmir Grameen Bank will be sponsored by Jammu and Kashmir Bank (JK Bank), which previously sponsored JKGB, while EDB was sponsored by State Bank of India. The merged bank will have increased assets and capital, allowing it to function like other nationalized banks and expand its area of operation. The bank’s branches will be located across the union territory, with 82 branches in the Kashmir valley and 28 in Jammu.
The merger is seen as a positive development, with officials believing that it will lead to better services and increased financial inclusion in rural areas. The Regional Rural Banks Act of 1976, which established the regional rural banks, was amended in 2015 to allow these banks to raise capital from sources other than the central government, state governments, and sponsor banks.
The merger of JKGB and EDB is not the first in Jammu and Kashmir, as Kamraz Rural Bank, which was sponsored by JK Bank, was previously merged with Grameen Bank. The merged bank will continue to focus on providing credit and other facilities to small farmers, agricultural laborers, and artisans in rural areas, promoting financial independence and development in the region.
HC Upholds Rs 16,261 Cr GST Bill Against J&K Bank – Kashmir Observer
The High Court of Jammu and Kashmir and Ladakh has temporarily halted the recovery of a Rs 16,261 crore demand and penalty under the Goods and Services Tax (GST) regime against Jammu and Kashmir Bank. The bank had filed a writ petition challenging the demand notice issued by the Additional cum Joint Commissioner, Central GST, which the bank claimed arose from a misunderstanding of its internal financial practices.
The bank, represented by advocate Tasaduq H Khawaja, argued that its internal financial transactions, including the transfer of funds between branches and the corporate office, were not taxable under the GST Act. The bank stated that these transactions were internal accounting measures and did not constitute taxable services.
The bank’s counsel also referred to guidelines issued by the Reserve Bank of India (RBI) in 1999 on risk and fund management, which highlighted the use of the Transfer Pricing Mechanism (TPM) across the banking industry in India. The bank argued that the demand and penalty amount were based on a flawed interpretation of financial procedures.
The court issued an interim stay on the GST recovery process, citing serious legal issues raised by the case. The matter has been listed for the next hearing on May 7, 2025. The union government, represented by advocate T.M. Shamshi, sought time to file a reply.
The court’s decision provides a temporary reprieve to the bank, which is facing a significant demand and penalty. The case highlights the complexities and intricacies of the GST regime, and the court’s consideration of the bank’s arguments will have implications for the banking industry in India.
HC sets aside ₹16,000 cr GST notice to J&K Bank, staying recovery proceedings.Let me know if you’d like me to suggest any further changes!
The High Court of Jammu and Kashmir and Ladakh has stayed a demand notice issued by the Goods and Services Tax (GST) Department against the Jammu and Kashmir Bank, seeking payment of Rs 16,000 crore as service tax and penalty for three financial years. The bank has challenged the show-cause notice and demand notice, citing various grounds, including that the notice was issued arbitrarily and without justification.
The bank contends that the funds transferred between its headquarters and branches are not taxable as they are money transactions involving no financial services. It argues that interest earned by extending deposits, loans, or advances is specifically exempted from tax, and hence the transfer of funds between branches is not liable to tax.
The bank also contends that the Additional Commissioner/Joint Commissioner Central Goods and Services Tax, Divisional-Jammu, has misdirected himself in treating the transfer of funds as a service to a separate entity and proceeded to identify the interest retained as a service charge. If allowed, the bank argues that it would collapse and the very bank would be rendered impossible.
The court has stayed the operation of the orders impugned in the petition, subject to objections from the other side. The bank has sought a stay on the show-cause notice and demand notice pending consideration of its plea, which is based on various grounds, including that the notice was issued contrary to the provisions of the Central Goods and Services Tax Act and the Jammu and Kashmir Goods and Services Tax Act.
The bank’s plea underscores that it is a company with corporate headquarters and branches at different places, and its core activities include acceptance of deposits and lending money to borrowers through its network of branches. It argues that the existence of a bank cannot be conceived of in the modern world without its branches, and that the corporate headquarters and branches constitute a single legal entity and are registered as such with the Reserve Bank of India.
The bank has contended that the interest is paid to depositors, whereas interest is charged from borrowers through the branches, and that the difference results in the profit or loss of the branch. It has also argued that the income, profit, and loss of the bank are determined after consolidating the balance sheet of all branches, and that the profit and loss of any particular branch is of no consequence as the bank is seen as a combination of its branches.
J&K Bank facilitates a staggering Rs 13,900 crore in transactions over a 6-day Eid period, a testament to the bank’s impressive efficiency during one of the busiest periods of the year.
The Jammu & Kashmir Bank has achieved a remarkable milestone in digital banking by processing a staggering 9.54 crore transactions worth Rs 13,900 crores in just six days leading up to Eid, without any service interruptions reported across its digital platforms. The bank’s digital infrastructure maintained 100% platform availability, handling triple the normal transaction volumes, with over 22,000 transactions per minute at peak times.
The bank’s mPay Delight+ transactions volume reached 3.07 crore, amounting to Rs 5,383 crores, while its UPI services facilitated 6.07 crore instant payments worth Rs 4,563 crores. The bank’s ATMs, Kiosk Banking, and other digital channels also witnessed a significant increase in transaction volumes.
Local businesses owners praised the bank’s performance, with many noting that the bank’s digital services handled the Eid rush brilliantly without any disruption. A senior JK Bank official emphasized that while the transaction numbers are impressive, “it’s the flawless experience that matters most. Our teams worked tirelessly to ensure that every Eidi transfer, every business payment, and every shopping transaction happens without a hitch.”
The bank’s achievement is a testament to its commitment to digital banking and its ability to handle high transaction volumes during peak seasons. The bank’s digital infrastructure has proven to be robust and reliable, providing a seamless experience for its customers. The bank’s success during Eid is a positive development for the region, showcasing its ability to adapt to increased demand and provide excellent customer service.
Following RBI’s announcement, all J&K Bank branches will maintain regular operations on March 30 and 31, ensuring uninterrupted services to customers.
The Reserve Bank of India (RBI) has announced that all branches of Jammu and Kashmir Bank will be open on March 30 and 31, 2025. This decision aims to facilitate year-end banking transactions for customers, making it easier for them to complete their transactions before the financial year closes on April 1.
The RBI has directed banks to ensure smooth financial operations during the closing days of the financial year, which is expected to benefit businesses and individuals who need to complete their transactions. Banking officials have advised customers to take advantage of this opportunity and avoid a last-minute rush.
Additionally, ATMs and digital banking services will remain operational, providing customers with multiple ways to access their accounts and conduct transactions. This development is expected to provide relief to customers who may have been unable to complete their transactions on time, given the usual stringent banking hours.
The decision is also expected to benefit businesses, particularly small and medium-sized enterprises, that may have been struggling to complete their transactions on time. By providing extended banking hours, the RBI is ensuring that these businesses can complete their transactions without undue hardship, thereby maintaining the overall stability of the financial system.
Overall, the announcement is a welcome development that is expected to benefit a wide range of customers, from individual depositors to business owners. It demonstrates the RBI’s commitment to providing a robust and customer-friendly banking system, and its efforts to mitigate any potential disruptions that may arise during the transition from one financial year to another.
Kashmir Chamber of Commerce and Industry (KCCI) requests the government to extend the special recapitalization plan of Jammu and Kashmir Bank by an additional two months.
The Kashmir Chamber of Commerce and Industry (KCCI) has called on J&K Bank’s Chief Executive Officer/Managing Director, Amitava Chatterjee, to extend the deadline of the bank’s Special One Time Settlement (OTS) Scheme by at least two months beyond the current closing date of March 31, 2025. The scheme, launched on January 1, 2025, allows borrowers to settle outstanding accounts and has received a positive response, but KCCI believes that many businesses still need more time to fully utilize the opportunity.
KCCI has received multiple representations from its members and potential beneficiaries expressing concerns about the current timeline, citing the challenges posed by harsh winter conditions and the ongoing holy month of Ramadhan, which has made it difficult for borrowers to liquidate assets to meet payment requirements. The business sentiment in Kashmir remains subdued, creating a challenging environment for distressed borrowers.
KCCI believes that an extension would help J&K Bank address non-performing assets while supporting broader economic rehabilitation efforts across the region. The Chamber argues that this extension is not only helpful but also essential for many distressed borrowers, who are struggling to recover from previous economic disruptions and mobilize necessary resources. By providing additional time, the bank can support the rehabilitation of these businesses, ultimately contributing to the overall economic growth and development of the region.
J&K Bank launches comprehensive month-long awareness initiative to educate public on consumer rights
To mark World Consumer Rights Day on March 15th, Jammu and Kashmir Bank has launched a month-long awareness campaign to educate its customers about their rights and grievance redressal mechanisms. The initiative is aligned with the Reserve Bank of India’s (RBI) efforts to enhance public awareness about consumer protection and responsible banking. The campaign highlights the key themes of the RBI’s Charter of Customer Rights, including the right to fair treatment, transparency, fair and honest dealing, suitability, privacy, and grievance redressal and compensation. The bank is also emphasizing the importance of timely compensation for financial losses resulting from deficiencies in banking services.
The MD & CEO of Jammu and Kashmir Bank, Amitava Chatterjee, stated that empowering customers with knowledge about their rights is essential for responsible banking. The campaign aims to ensure that customers are well-informed about their rights, enabling them to make prudent and secure financial decisions. The bank is committed to upholding the highest standards of customer service and addressing grievances promptly and fairly.
The campaign is being rolled out through various channels, including television, radio, print media, and social media platforms. The bank is also utilizing its network of business correspondents, financial literacy centers, and signages to disseminate information through interactive sessions. This initiative demonstrates the bank’s dedication to customer-centric banking and its commitment to strengthening its relationship with its valued customers.
Under the orders of the Divisional Commissioner, Kashmir, banks are instructed to extend their support to applicants enrolled in the employment scheme.
The Divisional Commissioner of Kashmir, Vijay Kumar Bidhuri, held a meeting at Sanat Ghar Bemina to review the performance of the Prime Minister’s Employment Generation Programme (PMEGP) and the Jammu and Kashmir Rural Employment Generation Programme (J&K REGP) in Kashmir. The meeting reported that over the past three years, 25,864 units have been established against the target of 7,372 units, with a margin money of Rs 554.19 crore, creating employment opportunities for 2,01,702 people.
The Jammu and Kashmir Khadi and Village Industries Board (J&K KVIB) has sponsored 11,111 cases, exceeding its target of 2,507 units, with a margin money outlay of Rs 122.33 crore, generating employment opportunities for 49,798 people. The Divisional Commissioner praised the dedication and performance of J&K KVIB officers and also felicitated the role of J&K Bank.
However, he emphasized the need for banks to facilitate applicants, reduce the rejection rate, and process cases within the approved 30-day turnaround time. He also advised designated nodal agencies to release subsidy amounts promptly to ensure timely establishment of employment generation units. The meeting aimed to review the performance and identify areas for improvement, with the goal of creating more employment opportunities in the region.
J&K Bank’s mPay Service Experiences Outage, Causing Significant Disruption for Customers
The Jammu and Kashmir Bank’s mobile banking app, mPay, has been experiencing a widespread outage, leaving thousands of customers unable to access their accounts or make digital transactions. This has caused significant inconvenience, especially for those who rely on the app for daily financial needs. Many users have taken to social media to express their frustration, citing recurring technical issues with the bank’s online services.
Businessmen, students, and professionals have been severely impacted, as they were unable to complete urgent transactions. One businessman, Akash Ahmad, was forced to send an urgent payment but was unable to do so due to the outage. Another user, Bashir Ahmad, was left embarrassed when his payment failed at a store. Students, like Aadil Hussain, were unable to pay their exam fees online, causing additional stress and inconvenience.
The outage has raised concerns over Jammu and Kashmir Bank’s digital infrastructure, with many questioning the bank’s preparedness to handle technical glitches. The lack of an official statement from the bank has added to the frustration and concern of customers. The situation is a stark reminder of the importance of having a robust backup plan and infrastructure to prevent such disruptions. As the outage continues, customers can only hope that the bank will resolve the issue soon and take steps to prevent similar instances in the future.