The origin of Jammu and Kashmir Bank Limited, more commonly referred to as J&K Bank, can be traced back to the year 1938, when it was established as the first state-owned bank in India. The bank was incorporated on 1st October 1938 and it was in the following year (more precisely on 4th July 1939) that it commenced its business, in Kashmir (India). It was initially set up as a semi-State Bank, with its capital being contributed by State as well as the public under the control of State Government.

Jammu and Kashmir Bank had to face serious problems in 1947 i.e. at the time of independence. With the partition of Pakistan, two out of the total ten branches of the bank, namely the ones in Muzaffarabad and Mirpur, fell to the other side of the line of control (now Pak Occupied Kashmir), along with cash and other assets. At that point of time, in keeping with the extended Central laws of the state, J&K Bank was categorized as a Government Company, as per the provisions of Indian Companies Act 1956.

It was in the year 1971 that Jammu and Kashmir Bank was granted the status of a ‘Scheduled Bank’. Five years later, it was declared as “A” Class Bank, by the Reserve Bank of India (RBI). As the years passed on, the bank started achieving more and more success. Today, it boasts of more than 500 branches across the country. It was only recently that Jammu and Kashmir Bank became a billion dollar company. Governed by the Companies Act and Banking Regulation Act of India, it is regulated by RBI and SEBI. It finds a listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) as well.

Unique Characteristics & Services

  • J&K Bank carries out banking business of the Central Government
  • Inspite of a government equity holding of 53 per cent, Jammu & Kashmir Bank (J&K Bank) is regarded as a private sector bank
  • J&K Bank is the one and only banker and lender of last resort to the Government of J&K
  • Plan and non-plan funds, taxes and non-tax revenues are routed through the J&K Bank
  • J&K Bank claims the distinction of being the only private sector bank that has been designated as agent of RBI for banking
  • The services of J&K Bank are utilized for the purposes of disbursing the salaries of Government officials
  • J&K Bank collects taxes pertaining to Central Board of Direct Taxes, in Jammu & Kashmir
Products & Services

Support Services

  • Anywhere Banking
  • Internet Banking
  • SMS Banking
  • ATM Services
  • Debit Cards
  • Credit Cards
  • Merchant Acquiring
Depository Services
  • Demat Account
  • Other Services
Third Party Services
  • Mutual Funds
  • Insurance Services – Life & Non Life
  • Remittance Services
Cash Management Services
  • Real Time Gross Settlement (RTGS)
  • National Electronic Fund Transfer (NEFT)
Registered Office & Corporate Headquarters
Jammu And Kashmir Bank
M A Road
Srinagar 190 001
Jammu & Kashmir
Phone: (+91- 0194) 2481930 -2481935
Website: www.jkbank.net

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