Overview
Jammu and Kashmir Bank (J&K Bank), headquartered in Srinagar, Jammu and Kashmir, is a private sector bank which carries out banking services across India. Founded in 1938 by the Maharaja of Jammu and Kashmir, Hari Singh, it is considered the first of its kind – a state owned bank – in the country. It is the only private sector bank which carries out banking business of central government. Besides this, it is the only bank in India which collects central taxes under the CBDT Act.
The major aim of J & K Bank is to bring the economic transformation and to increase the availability of loan products and financial services to capitalise the growth in Jammu and Kashmir. At present, J&K Bank has acquired the status of a scheduled bank and has been designed as class ‘A’ bank by the Reserve Bank of India (RBI) in 1976. It has set a record of achieving consistent profit and growth over the past several years. J & K bank delivers exemplary banking products and financial services to small and mid-sized corporates and households. It offers an array of banking products which include term deposits, loans, credit cards, non-resident banking, personal banking, mutual funds, tax products and much more.