Brief History of Jammu And Kashmir Bank

Hii sir, I Wants to know the History of the Jammu And Kashmir Bank will you Please provide It ?

[pawan]

J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country. It is also the only private sector bank designated as RBIs agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT.

History of the Jammu And Kashmir bank

The bank commenced the banking business on 4 July 1939 and was considered the first 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.

Financial

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 profit of Rs 10 billion.

On 1 April 2013 the bank surpassed the target of promised Rs 1000 billion business and is confident of meeting its other annual targets as well in its Platinum Jubilee year

Branches

The banks corporate headquarters is in Srinagar near TRC (Tourist Reception Centre). The bank has a network of 865 computerized bank branches and 1126 ATMs across the country as on 17 August 2017