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Jammu and Kashmir Bank

BSE: 532209|NSE: J&KBANK|ISIN: INE168A01041|SECTOR: Banks - Private Sector
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Company History - Jammu and Kashmir Bank
Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938
 and commenced its business from 4th July, 1939 at in Kashimir
 (India). The Bank was the first in the country as a State owned
 bank.
 
 According to the extended Central laws of the state, Jammu & Kashmir
 Bank was defined as a govt. Company as per the provision of Indian
 companies act 1956. In the year 1971, the Bank received the status of
 scheduled bank. It was declared as A Class Bank by RBI in 1976. Today
 the bank has more than 500 branches across the country and has
 recently became a 10 billion Dollar Company.
 
 YEAR                                                         EVENTS
 1938 - The Jammu & Kashmir Bank Ltd was incorporated in 1938 to
 extend
               banking facilities in Jammu & Kashmir.  
 
             - The bank was constituted as a government company under
 Companies
                Act, 1956 and is functioning as bankers to the state
 government.  
 
 1993 - The Bank tied up with Reuter News Agency for instantaneous
               information about global foreign currency rates and
 fluctuations
               thereof.
 
 1994 -  The Bank tied up with Reuter News Agency for instantaneous
                information about global foreign currency rates and
 fluctuations
                thereof.
 
 1995 - Banking Ombudsman Scheme was launched in June, with a view to
              provide quick and inexpensive facility to resolve the
 grievances
             of banks' customers.  
 
           - A loan delivery system was introduced in April, to
 instil
             discipline in the utilization of bank credit especially
 by
             large borrowers.
 
 1998 - Jammu and Kashmir Bank Ltd (J&K Bank) is coming out with a
 public
               issue of 1,85,00,000 equity shares of Rs.10 each for
 cash at a
               premium of Rs.28 per share aggregating Rs.70.30 crore. 
 
 
            - A recovery drive was launched which included settlement
 of long
              outstanding loan accounts of chronic defaulters by
 outside court
              compromises. 
 
            - Bank introduced a new term deposit scheme under the
 title Jana
              Priya Jamma Yojna carrying flexibility in the repayment
              schedule.  
 
            - Housing Loan and Education Loan Schemes for general
 public have
              been introduced during the current financial year.
 
 1999 - The bank entered into an agreement with IBA to connect its
 ATMs
              through a shared network.
 
 2000 - Jammu and Kashmir Bank has tied up with Infosys Technologies
 to
              offer internet banking and for its e-commerce
 initiatives.
 
            - Jammu and Kashmir Bank is in talks with two foreign
 insurance
              companies for a joint venture for its insurance
 subsidiary to be
              floated by the year end.
 
            - Jammu and Kashmir Bank Ltd, the Srinagar-based listed
 bank in the
              country, tied up with Infosys Technologies Ltd.
 
           - Jammu and Kashmir Bank has tied up with American Express
 to 
              launch a co-branded credit card.  The J&K Bank American
 Express
              Credit card offers high value features including global
 validity, balance
              transfer facility, membership rewards and emergency
 cash.
 
           - The Bank will broaden its areas of diversification by
 getting into non-life
               insurance and depository business, apart from life
 Insurance and asset
               management business following the recommendations of
 pricewaterhouse  Coopers .
 
 2001 - The Bank has launched J&K Bank - AMEX Co. Branded Credit Card
 pursuant to
              agreement entered with American Express Bank.
 
            - The Bank has tied up with the US-based insurance giant,
 Metlife, for the proposed foray
               in the insurance sector.
 
 2002
 
 -Jammu & Kashmir Bank Ltd has informed that following persons have
 ceased to be Directors of the Bank. Mr H S Anand and Mr M I Shahdad.
 Further the Company has informed that the following persons were
 appointed as Directors:Dr G Q Allaqaband and Mr D S Kandhari
 
 Further the following finance luminaries were reappointed as
 additional Directors of the Bank in the aforesaid Board Meeting.Dr A
 M Khusro,Mr G P Gupta and Mr Vipin Malik.
 
 2003 
 
 - Jammu and Kashmir Bank Ltd has informed the following change in the
 Board:
 
 1) Mr G R Khan and Mr G M Dug have ceased to be directors of the bank
 at AGM held on June 02, 2003.
 2) Mr Mohammad Yasin Mir and Mr B L Dogra have been appointed as
 directors on the Board at AGM held on June 02, 2003.
 3) Dr A M Khusro, Mr G P Gupta and Mr Vipin Malik have been appointed
 as Directors of bank on June 3, 2003.
 
 -Jammu and Kashmir Bank has agreed to reduce the rate of interest rom
 16 to 12% on
 various loans advanced to houseboat owners, taxi and shikariwalas.
 
 -Dr Haseeb A Drabu, consultant to the Economic Advisory Council of
 Prime Minister  and 
 presently the Economic Advisor to the government of J & K has been
 appointed as 
 the Director of the Bank.
 
 -J & K Bank has informed that Mr D S Khandhari, Director has ceased
 to be a director
 to the bank on account of his resignation to the directorship.
 
 -Jammu and Kashmir Bank has strengthened its bonds with Infosys by
 successfully
 deploying Finacle Core Banking.
 
 -J & K bankhas decided to launch Global Access Card ( an
 International Debit Card) 
 in association with Master Card International.
 
 -Mr.J B Moria, Mr J A Khan, and Mr. A M Khusro were ceased to be the
 directors of the bank.
 
 -Mr Sudhakar Kaza, General Manager, National Clearing Centre, RBI was
 appointed
 as the additional Director to the bank on the board.
 
 
 
 2004
 
 -J&K Bank slashes PLR to 11-pc
 
 -J&K Bank approves Rs 300-cr for Reliance Infocom
 
 -Jammu and Kashmir Bank ties up with ICICI Bank to share the ATM
 network
 
 -Jammu & Kashmir bank has received the Asian Banking Award 2004 in
 Manila for its customer convenience programme'.
 
 -J&K Bank signs MoU with Bajaj Tempo
 
 -Jammu & Kashmir Bank Ltd has informed that the following persons
 were appointed as Directors on the Board of the Bank at the Annual
 General Meeting of the Shareholders held on June 12, 2004: 1. Dr
 Haseeb A Drabu 2. Mr Umar Khurshid Tramboo 3. Mr Munir-ud-din Shawl
 
 -J & K Bank unveils international division in Srinagar
 
 -IDBI Bank ties up for Visa transactions with Jammu & Kashmir Bank to
 launch a platform for the state's merchant establishment.
 
 -JK Bank inks pact with Birla Power Solutions
 
 2006
 
 -Jammu & Kashmir Bank receives approval from RBI for increasing
 the FII's Holding.
 
 -Jammu & Kashmir Bank ties up with Kota Mutual Funds
 
 2007
 
 Jammu & Kashmir Bank Ltd has appointed Mr. M S Verma (Ex-Chairman,
 State Bank of India) and Mr. G P Gupta (Ex-Chairman & Managing
 Director, IDBI) as Directors of the Bank in the meeting of the Board
 of Directors held on June 09, 2007.
 
 -J&K Bank and SDA Sign MOU 
 
 -JK Bank launches Dastkar Finance Scheme A tribute to golden hands:
 Mushtaq Ahmad 
 
 2008
 
 -Jammu & Kashmir Bank Ltd has appointed Mr. Ashok Kumar Mehta and Mr.
 Abdul Majid Mir, Presidents as Executive Directors on the Board of
 Directors of the Bank w.e.f. May 01, 2008, pursuant to the approval
 accorded by the Reserve Bank of India vide their letter dated April
 30, 2008.
 
 - J&K Bank and Tata Consultancy Services sign MoU to create IT
 blueprint  
 
 - Jammu & Kashmir Bank Ltd has informed that Mr. B L Dogra, was
 reappointed as Director of the Bank at the 70th Annual General
 Meeting held on July 19, 2008. Further, the Bank has informed that
 Mr. M S Verma (Ex-Chairman, State Bank of India) and Mr. G P Gupta
 (Ex-Chairman & Managing Director, IDBI) were re-appointed as
 Directors of the Bank in the meeting of the Board of Directors held
 on July 19, 2008.
 
 2009
 
 - Jammu & Kashmir Bank Ltd has informed that Mr. Arnab Roy, Regional
 Director,Reserve Bank of India, Jammu, have been appointed as
 Director of the Bank with effect from November 05, 2009.
 
 -J&K Bank launches I am Listening campaign 
 
 -J&K Bank launches special merchant acquisition drive 
 
 -JK Bank ties- up with Tata BP Solar India Ltd 
 
 2010
 
 -HPCL, JK Bank sign MoU Bank to install ATMs at HP petrol pumps 
 
 -JK Bank launches An Poshe Tele Yeli Wan Poshe Over 100 LPG
 connections distributed at Chandanwari.
 
 -J&K Bank launches Operation Clean Up
 
 
 2011
 
 - J&K Bank educates youth at Kapran Employment fair.
 
 - Langate gets J&K Bank ATM : J&K Bank launches world class
 technology services in remotest areas.
 
 - J&K Bank on expansion spree; opens 3 more Business Units.
 
 - World Plantation Day : J&K Bank conducts plantation drive.
 
 - Governor inaugurates J&K Bank ATM : Banks ATM strength to touch
 500 mark this year.
 
 2012
 
 - All India J&K Bank Invitational Gold Cup Football Tournament
 announced.
 
 - J&K Bank signs MoU with Atul Auto Ltd.
 
 - J&K Bank sanctions Rs.20 Cr through 10000 KCCs in Ganderbal.
 
 - J&K Bank donates computer lab, library to Kapran Hr Sec We work for
 the prosperity of people : EP.
 
 2013
 
 -J&K launched zonal office in Bangalore.
 
 -Bank inaugurates J&K Bank Business Unit at Paanzan, Chadura.
 
 -J&K Bank signs MoU with Chandigarh University.
 
 -J&K Bank, Mahindra & Mahindra sign MoU for car loans and commercial
 vehicle finance.
 
 -J&K Bank gets Best Bank Award.
 
 2014
 
 -JK Bank opens ATM at Mini Secretariat Reasi.
 
 -J & K Bank receives facilitation trophy.
 
 -JK launched  pathway landscaped at Srinagar airport.
 
 -Pradhan Mantri Jan Dhan Yojana launched in J&K.
 
 -&K Bank inaugurates Currency Chest in Ganderbal.
 -Jammu & Kashmir Bank has splits its face value from Rs 10/- to 1/-
                                                  
 2015
 -J&K Bank ATM network reaches 1000 mark. Over 900 ATMs in J&K alone
 -J&K Bank conducts DLRC in Rajouri, camps in Kupwara
 -J&K Bank New Business Unit - Rehal Dhamalian, Bishnah
 -J&K Bank opens business units in Bishnah and Shopiah
 -J&K Bank inaugurates ATM, new branch premises
 -J&K Bank opens business unit in Satwari Jammu
 
 2016
 -J&K Bank inaugurates new branch premises at Katra, Jammu.
 -J&K Bank ties up with reputed housing company.
 -J&K Bank opens Extension Counter, ATM in Kathua.
 -J&K Bankers Club to organize Banclave today.
 -J&K Bank bags award for APY achievements, opens branch in
 Ganderbal.
 -J&K Bank ties-up with PIPE.
 -J&K Bank bags four awards for SHG, JLG financing.
 
 
 
 
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