The top officials of the bank informed that with the Government of J&Ks majority shareholding of 63.41 percent in the bank as on June 30, 2023, it is now “a public sector bank for all practical purposes” but as of now may not be strictly classified as such as per the RBI guidelines.
The bank witnessed a 10% increase in its total income to Rs 6,029.17 crore from Rs 5,502.09 crore. It had posted a profit of Rs 1,197 crore last fiscal, which was the highest profit till last year.
"Identified as Meraj Alam, son of Mohammad Nazir and resident of Bihar, he has been missing since February 17 (Saturday). We have registered a case of FIR number 13/2024 under section 409 IPC in police station Tral and efforts are on to nab the accused," a police official said. Jammu and Kashmir: Bank Manager in Pulwama Runs Off With Rs 33 Lakh From Branch, Probe Underway.
J&K Bank board has set the floor price for the QIP issue at Rs 112.66 per share, reflecting a discount of 10.02 percent from the company s December 11 closing price.
J&K Bank raises interest rates on Fixed Deposits, providing 3.5% to 7.50% for different periods. Senior citizens can avail an additional 0.50% interest