The Jammu And Kashmir Bank 

It was on October 01, 1938 that idea of establishing Jammu & Kashmir Bank was translated into reality. Maharaja of Jammu and Kashmir, Hari Singh issued letters of patent to pave the way for founding this bank. Its foundation was deliberate effort for which the Maharaja took an initiative to peruse investors from Kashmir to help its establishment.

Founding directors of Jammu & Kashmir Bank were those individuals that played key role of its establishment as investors. Formal commencement of business started on July 4, 1939. This bank differed from the rest as being distinguished a state owned bank.

Tough situation arrived for Jammu & Kashmir Bank while India attained freedom. Problem was that of some of its branches falling of Muzaffarabad, Rawalakot and Mirpur regions that became part of Pakistan-administered Kashmir. It had to declare assets to Reserve Bank of India as part of an Indian bank.

Distinction of Jammu & Kashmir Bank is that it is one bank of the state whose majority ownership is by state government of Jammu & Kashmir. Its branches are spread of many parts of the state besides branches operating of other Indian states.

Other distinction which Jammu & Kashmir Bank has is of being India’s only private sector bank that Reserve Bank of India designated an agent to do banking business.

The Jammu And Kashmir Bank Ltd Details:

IFSC Code of Banks of India