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History
Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938 and commenced its business from 4th July, 1939 at in Kashimir (India). The Bank was the first in the country as a State owned bank.
According to the extended Central laws of the state, Jammu & Kashmir Bank was defined as a govt. Company as per the provision of Indian companies act 1956. In the year 1971, the Bank received the status of scheduled bank. It was declared as "A" Class Bank by RBI in 19760. Today the bank has more than 500 branches across the country and has recently become a billion Dollar Company.
Profile
Incroporated in 1938 as a limited company.
Governed by the Companies Act and Banking Regulation Act of India.
Regulated by the Reserve Bank of India and SEBI.
Listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)
53 per cent owned by the Government of J&K.
Rated "P1+" by Standard and Poor- CRISIL connoting highest degree of safety.
Four decades of uninterrupted profitibility and devidends.
Unique Characteristics : One of a kind
Private sector Bank despite government holding 53 per cent of equity.
Sole banker and lender of last resort to the Government of J & K.
Plan and non -plan funds, taxes and non-tax revenues routed through the bank.
Salaries of Government offcials disbursed by the Bank.
Only private sector bank designated as agent of RBI for banking.
Carries out banking business of the Central Government.
Collects taxes pertaining to Central Board of Direct Taxes in J & K.
Registered Office
M A Road
Srinagar 190 001
Jammu & Kashmir
Corporate Headquarters
M A Road
Srinagar 190 001
Jammu & Kashmir
www.jkbank.net