J&K Bank enjoys a very unique status in the
Indian banking sector. That of being the only
State Government owned commercial bank in the
country. The Bank with a national footprint of
more than 560 branches is presently the fastest
growing old generation private sector bank in
the country.
Almost seventy years ago, the then Maharaja of
the State of Jammu & Kashmir, Maharaja Hari
Singh started thinking about setting up of State
Bank of J&K with the sole purpose of overall
development of his subjects.
After prolonged deliberations and discussions,
the assignment for establishment of “The Jammu &
Kashmir Bank Limited” was given to the late Sir
Sorabji N Pochkhanwala, the then Managing
Director of the Central Bank of India. Mr.
Pochkhanwala formulated a scheme on 24.09.1930,
suggesting establishment of a bank with
participation in capital by State and the public
but under the control of State Government. Thus,
was born the J&K Bank, which commenced its
business from 4th July 1939 from its Registered
Office, Residency Road, Srinagar, Kashmir.
The arduous but illustrious journey that spans
over almost seven decades has been a real story
of commitment and enterprise. Today J&K Bank is
one of the very few banks that combine the best
of public ownership; stability and safety with
the best of private functioning; growth and
efficiency. Having an almost exclusive
geographical area of operations and supported by
a dedicated community, the bank enjoys an almost
monopolistic postion in the state and a sizeable
presence in the rest of country.
All these aspects accord unparalleled financial
and non-financial advantages to the bank making
it one of the best and most profitable old
generation private sector banks.
Being the flagship Institution of the state the
bank aspires to lead by example by delivering
outstanding performance in growth and
profitability, catalyse growth in the state
economy and create enabling conditions for the
financial empowerment of the people of J&K.
Accordingly the Vision of J&K Bank is to
engender and catalyse the economic
transformation of Jammu and Kashmir and
capitalize from the growth induced financial
prosperity.
The bank’s overriding mission is to use its core
competence to serve and empower the people in
general and entrepreneurs in particular. The
bank identifies empowerment as a process of
enhancing the capacity of individuals or groups
to make choices and to transform those choices
into desired actions and outcomes. The bank is
set to demonstrate that people with lesser means
can be reached and reached profitably.
J&K Bank is going from strength to strength as
it witnesses tremendous revenue growth
opportunities in all its businesses. The Bank
has financial strength, powerful set of brands
that people trust, proven products and services,
an integrated distribution network that
delivers. This is a tremendous base on which to
grow business profitably.
Besides, customer centricity has been the raison
d’etre for the operational framework of the bank
which has proved as a catalyst for business
innovation driving, thereby, top line and bottom
line growth. In recognition of its excellent
customer service, fair business practices, total
operational efficiency, overall performance,
etc. the bank has been felicitated so many times
during the last few years.
J&K Bank sees itself as a Bank with a regional
focus, a national reach and international
standards of operations. With an annual turnover
of more than US$ 10 billion, J&K Bank is on its
way to become the universal bank in Jammu &
Kashmir, a super specialist bank in India and
world-class services bank within the global
banking space.
Unique
Characteristics: One of a kind
Private sector bank despite government
holding 53 per cent of equity.
Sole banker and lender of last resort to
the government of J & K.
Plan and non-plan funds, taxes and
non-tax revenues routed through the bank.
Salaries of government officials
disbursed by the bank.
Only private sector bank designated as
agent of RBI for banking business.
Carries out banking business of the
central government.
Collects taxes pertaining to central
board of direct taxes in J & K.
Convener of State Level Bankers’
Committee
Infrastructure:
Global Standards
The fastest growing Bank with 560
branches across the country.
Most of the branches on Core Banking
Solutions.
Anywhere Banking, Tele-banking and SWIFT
facilities available.
Internet Banking, SMS and Mobile Banking
provided.
ATMs connected globally to all
MasterCard Networked ATMs.
Mobile ATM Service available – first of
its kind in Northern India.
J&K Bank Global Access Debit Cards
Cirrus and Maestro enabled.
Own Credit Card.
Live on RTGS System
Financial
Services Portfolio: One stop for all financial
needs
Insurance joint venture with MetLife
International.
Distributor of:
• Life Insurance products of MetLife (India)
Pvt. Ltd.
• Non-Life Insurance products of Bajaj
Allianz General Insurance Co. Ltd.
Providing Depository Services.
Offering Stock Broking Services.
Collection Agent for utility services
provided by State and private sector.
New
Business Initiatives: Shaping ourselves to serve
better
