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About Jammu and Kashmir Bank
History of Jammu & Kashmir Bank Limited
Incorporated in 1938, Jammu & Kashmir Bank Limited is one of the oldest private banks in India. It is a scheduled commercial bank and offers retail and corporate banking services. In 1939, the bank opened its first branch in Kashmir, and it was the first state-owned bank in India. In 1971, the bank became a scheduled bank. In 1993, the bank partnered with the Reuters News Agency for instantaneous information about global foreign currency rates and fluctuations. In 1998, Jammu & Kashmir Bank Limited released its IPO, and in the same year, it launched a term deposit scheme, Jana Priya Jamma Yojna, with a flexible repayment schedule. In 2000, the bank partnered with Infosys Technologies to offer internet banking services. In the same year, they partnered with American Express to offer a co-branded credit card. In the next year, 2001, they partnered with Metlife and entered the insurance sector. In 2004, they partnered with ICICI Bank to share the ATM network and also unveiled an international branch in Srinagar. In 2020, they opened 5 ATMs in Pulwama, which was followed by 2 more in 2021. As of June 30, 2023, the Government of Jammu & Kashmir & Ladakh holds a majority shareholding of 63.41% in the bank. The bank has more than 996 branches and 1,414 ATMs in India located in 18 states and 4 Union Territories. Along with these branches, Jammu & Kashmir Bank has 84 Ultra Small Branches called Easy Banking Units (EBUs) in the Union Territory of Jammu and Kashmir and Ladakh.Business Segments of Jammu & Kashmir Bank Limited
The primary business segments of the bank are as follows:- Business: Under this segment, the bank provides commercial services like commercial loans, accounts, insurance, debit cards, etc., to customers.
- Personal: Under this segment, the bank provides personal banking services, such as loans, accounts, cards, insurance and much more for customers.
- Agriculture: In this segment, the bank provides banking services, such as agri finance, credit cards, mortgage loans, etc., to customers in the agriculture sector.
- NRI: Under this segment, NRIs can avail banking services, including accounts, fixed deposit services, etc.
- JKB Financial Services Limited (JKBFSL): This wholly-owned subsidiary of Jammu & Kashmir Bank was set up with the aim of meeting the para-banking requirements of the customers of the bank customers and other customers of the UT of Jammu and Kashmir in general.
Key Personalities of Jammu & Kashmir Bank Limited
Baldev Prakash, Managing Director and Chief Executive Officer (CEO) Baldev Prakash is the Managing Director and CEO of Jammu & Kashmir Bank Limited. He has more than 30 years of experience in the banking sector. Before joining Jammu & Kashmir Bank, he was the Chief General Manager of Digital and Transaction Banking Marketing at the State Bank of India (SBI).Parent Organisation
Govt - J & K
Managing Director
None
Founded
1938
NSE Symbol
J&KBANK
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Jammu Kashmir Bank Ltd FAQs
What is the share price of Jammu Kashmir Bank Ltd (J&KBANK) shares?
Jammu Kashmir Bank Ltd (J&KBANK) share price as of November 11, 2024, on NSE is Rs 101.5 (NSE) and Rs 101.5 (BSE) on BSE.
Can I buy Jammu Kashmir Bank Ltd (J&KBANK) from Angel One?
Yes, You can buy Jammu Kashmir Bank Ltd (J&KBANK) shares by opening a Demat account with Angel One.
How do I buy Jammu Kashmir Bank Ltd (J&KBANK) from Angel One?
Jammu Kashmir Bank Ltd (J&KBANK) share can be bought through the following modes:
1. Direct investment: You can buy Jammu Kashmir Bank Ltd (J&KBANK) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Jammu Kashmir Bank Ltd (J&KBANK) shares.
1. Direct investment: You can buy Jammu Kashmir Bank Ltd (J&KBANK) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Jammu Kashmir Bank Ltd (J&KBANK) shares.
What is the main business of JAMMU & KASHMIR BANK (J&K Bank)?
The main business of JAMMU & KASHMIR BANK (J&K Bank) is to offer financial services, namely personal banking, business banking, agricultural banking, NRI services, payments, and investor services.
Who are the promoters of JAMMU & KASHMIR BANK (J&K Bank)?
The main promoters of JAMMU & KASHMIR BANK (J&K Bank) are Chief Secretary Jammu And Kashmir Govt, Finance Secretary Ut Ladakh, Secretary Finance Deptt Jammu And Kashmir Govt with 59.70%, 4.50%, and 3.83% shareholding, respectively, as on 31st December 2022.
How many branches does JAMMU & KASHMIR BANK (J&K Bank) have?
JAMMU & KASHMIR BANK (J&K Bank) has 980 branches, with 174 in metro cities, 108 in urban areas, 162 in semi-urban areas, and 536 in rural areas, as on 31st March 2022.
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