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• Jammu And Kashmir Bank Limited

Jammu And Kashmir Bank Limited

Jammu and Kashmir Bank (J&K Bank) is the oldest private sector bank in J and K. It has 956 branches and more than 1000 plus ATM. The bank also offers a wide range of retail credit products, including Home, Agriculture Loans, Society Account Personal Loans, Education Loan, Agriculture, Trade Credit and Consumer lending Housing Loans, Small Savings Accounts, Term Credits, and other brilliant financial products personalised to the needs of various customer segments.

History of Jammu And Kashmir Bank Limited

Jammu And Kashmir Bank Limited  (J&K Bank) is one of the oldest private sector bank located in Jammu and Kashmir having its main office located at Srinagar in Jammu and Kashmir. This bank was created on October 1, 1938 by the Maharaja Hari Singh and he initially deposited INR 5 Lakhs into the first account of the bank. In 1971 this bank was declared the Scheduled Bank and also declared the A class bank by the Indian Government. There are more than 900 plus branches in India of this bank and 2 branch fell into the Pakistan Occupied Kashmir in 1947 like Rawakot and Muzaffarabad. 

804 branches are in Jammu and Kashmir, 36 in Union Territory of Ladakh and 120 plus are there outside Jammu and Kashmir.  Bank has 75 Easy Banking Units (EBUs) in various parts of India.

Mr. Baldev Prakash is the MD and CEO of the Jammu And Kashmir Bank Limited  (J&K Bank).

Subsidiaries of Jammu And Kashmir Bank Limited

The Subsidiaries of the Jammu and Kashmir Bank Limited are given below as follows:

• JKB Financial Services Limited (JKBFSL) 

Banking Services offered by Jammu And Kashmir Bank Limited

There are various banking services offered by the Jammu and Kashmir Bank Limited and it is given below as follows:

• Prepaid Cards.
• Basic Current Account.
• Cash Deposit Scheme.
• Safe Deposit Lockers.
• Credit and Debit Card.
• Fixed Deposit Scheme.
• General Salary Account.
• Student Saving Account.
• Deluxe Savings Account.
• General Savings Account
• Premium Savings Account.
• Platinum Current Account
• Premium Current Account.
• Grameen Current Account.
• Recurring Deposit Scheme.
• Child Care Deposit Scheme.
• Credit Guarantee Schemes.
• Tax Saver Deposit Scheme.
• Personalised Cheque Facility.
• Personalised Bank Passbook.
• Platinum Plus Current Account.
• Monthly Yield Deposit Scheme.

Loans and credit facilities provided by Jammu And Kashmir Bank Limited

There are various loan and credit facilities offered by Jammu And Kashmir Bank Limited and they are as follows:

• Housing Loan.
• Personal Loan.
• Business Loan.
• Consumer Loan.
• Education Loan,
• Car Loan Scheme.
• Skill Loan Scheme.
• Two Wheeler Finance.
• Fruit Advance Scheme.
• Festival Advance Loan.
• Loan against the Gold.
• Farmers Debt Scheme.
• Car Loan for Used Cars.
• Solar Equipment Finance.
• Coaching Fee Loan Scheme.

Legal Issues

• In 2019, following the formation of the union territories of Jammu and Kashmir, the Anti-corruption Bureau investigated corruption allegations against Mr. Parvez Ahmed Mangroo and Mushtaq Ahmed Sheikh.
• In August 2020, the Enforcement Directorate caught son of former finance minister Mr. Abdul Rahim and used money of J and K Bank to purchase personal assets in Dubai and the USA.

Awards and Recognition

• J&K Bank wins National Award for SHG Bank Linkage and the commissions for the Business Units.
• Ministry of Rural Development, Government of India awarded J&K Bank with 'National Award for Outstanding Performance for FY 2020-21'.

Jammu And Kashmir Bank Limited has 1035 IFSC connected branches in India. Bank has branches in following states:

ANDHRA PRADESH
BIHAR
CHANDIGARH
DELHI
GOA
GUJARAT
HARYANA
HIMACHAL PRADESH
JAMMU AND KASHMIR
JHARKHAND
KARNATAKA
KERALA
MADHYA PRADESH
MAHARASHTRA
PUNJAB
RAJASTHAN
TAMIL NADU
UTTAR PRADESH
UTTARAKHAND
WEST BENGAL