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.
2017
-JK Bank Executive President inaugurates new branch premises in
Delhi
-JK Bank Chairman e-inaugurates 2 BUs and 5 ATMs.
-J&K Bank appoints kin of slain guards, provides financial relief of
Rs 20 Lacs.
-J&K Bank Chairman launches 3-day Bajaj Allianz health camp for bank
employees.
-J&K Bank on the eve of Eid-I-Milad donates ambulance to Dargah
Hazratbal.
2018
-J&K Bank to establish state-of-the-art Business Unit at Central
University Jammu.
-J&K Bank Promotes 694 employees across scales.
-J&K Bank inaugurates new premises at Dab Ganderbal, to start a pilot
project for handicrafts promotion.
-J&K Bank enters into MoU with Global Money Transfer Company.
-J&K Bank inaugurates new Premises, two ATMs.
2019
-J&K Bank organizes DLRC/DCC meet in Baramulla, Bandipora, conducts
awareness camp in Pampore.
-J&K Bank bags Top Banker Award for PMEGP.
-J&K Bank opens facilitation counter inside Green Campus CUK.
-J&K Bank establishes refreshment counter at Dastgeer Sahib shrine.
-J&K Bank installs Cash Recycler Machine at Business Unit Hari Singh
High Street.
2020
-J&K Bank Inaugurates BU at Laroo in Kulgam.
-J&K Bank ties-up with Ashok Leyland.
-J&K Bank opens Fresh Currency Counter at Vaishno Devi Bhawan.
-J&K Bank starts Special Desks for youth and women entrepreneurs.
-J&K Bank commissions 5 ATMs in Pulwama
-J&K Bank inaugurates ATM at SICOP Bari Brahamna.
2021
-J&K Bank bags award for second highest percentage of digital payment
transactions.
-J&K Bank commissions 2 ATMs in Pulwama.
-J&K Bank receives additional capital of Rs 500 Cr from Government,
It will give impetus to our business expansion plan: CMD.
-J&K Bank opens new business unit at Arai in Poonch.
-J&K Bank opens Business Unit and an EBU in Ramban.
2022
-J&K Bank signs MoU with Ladakh Administration, takes initiatives
under CSR MoU will strengthen relation between the Bank and people of
Ladakh.
-J&K Bank collaborates with BSF to undertake plantation drive
Provides 1500 plant stems under CSR.
-J&K Bank Signs MoU with Jammu University.
-J&K Bank ties-up with Ebix Money Express Pvt Ltd.
-J&K Bank MD launches Iss Eid Ghar Ghar Khushiyan campaign
Srinagar.
-J&K Bank signs agreement with SKIMS for digital payment system.
-Special Cyber Security Award 2022 on Access and Identity Management
for its Privilege and Customer Authentication Framework for
FY2020-21
2023
-Best Performance in CASA-India (1st Runner up in Small Bank
Category) at ICC Emerging Asia Banking Conclave & Awards 2022
organized by Indian Chamber of Commerce in Goa on 8th July 2023.
-Gold Award under the category of Process innovation at Infosys
Finacle Innovation Awards 2023.
-1st Scheduled Commercial Bank in India to achieve PCIDSS V4
Certification.
