ADGP Kashmir Vijay Kumar said one of the two slain terrorists was involved in the killing of Kashmiri Pandit late Sanjay Sharma earlier this year in February.
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The MD and CEO handed over the dividend cheques for the FY23 to Lieutenant Governor Manoj Sinha. The bank approved 50 per cent dividend for FY23 at its 85th annual general meeting.
The Jammu and Kashmir Bank's stock has been bullish in recent years, particularly since the 2014 share-split era. The bank's impressive performance is driven by historically high profits, notably a substantial leap from a Rs 1139.41 crore loss in 2019-20 to a Rs 1197 crore profit in 2022-23. This success is indicative of the broader banking sector's health, as the bank historically sets the tone for financial operations in the region. While overall financial inclusion is better in Jammu and Kashmir compared to other states, deposit growth remains modest, with slight declines in some districts. Advances have seen notable growth, especially in corporate lending and personal loans. Notably, the bank's performance is crucial for the region's economy, with credit appetite varying across districts and regions. Despite challenges in priority sector lending, the banking sector's robustness in non-priority lending contributes significantly. Non-performing assets (N