History of J&K Bank 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 solepurpose of overall development of his subjects.After prolonged deliberations and discussions, the assignment for establishment of TheJammu & Kashmir Bank Limited was given to the late Sir Sorabji N Pochkhanwala, thethen Managing Director of the Central Bank of India. Mr. Pochkhanwala formulated ascheme on 24.09.1930, suggesting establishment of a bank with participation in capitalby State and the public but under the control of State Government. Thus, was born theJ&K Bank, which commenced its business from 4th July 1939 from its Registered Office,Residency Road, Srinagar, Kashmir.It was in the year 1971 that Jammu and Kashmir Bank was granted the status of a'Scheduled Bank'. Five years later, it was declared as "A" Class Bank, by the ReserveBank of India (RBI). As the years passed on, the bank started achieving more and moresuccess. Today, it boasts of more than 560 branches across the country.Now listing some of the historical developments : Formulation of Board of Directors (1938) BODs on Oct 1st 1938 resolved and adopted the Article of Association Incorporated in 1938 as a limited company First meeting of BODs- 7th Jan 1939 Commencement of business on July 4th 1939 -R Road,Srinagar First Manager: Mr. Sohan Lal Kothari First Chairman:Major General Roy Bahadur Bishan Dass-Chief Minister First Safe Deposit vault at Residency Road 1940 Few more branches opened in the same year-Udhampur,Mirpur,Anantnag,Baramullah and Muzzaffarabad Appointment of Staff on professional basis-1945 State Minister to be on the BODs-1946 Introduction of Inspection-1946 First outside branch Amritsar Partition of India-1947 and its aftermath Loss of two branches-Mirpur & Muzzarabad Filling/Settling of Claims by the depositors

Bank at the verge of collapse Assistance from the Government-Nearly 6 Lakhs-1949 Recovery of bad debts Extension of Central Laws to the State of J & K Bank defined as govt: company-Indian Companies Act 1956 Financial Year changed Banking companies Act 1949 Real growth started from 1969-the era of Nationalization Social Control on banks First whole time Chairman Mr.A.A.Fazili, Nov.1970-June 1974 Lending Policy changed/reoriented Priority Sector advances Total No of Branches-26 as on December 1970 1973-Permission granted to establish currency chest at R.Road,Sgr

Total No of Branches-64 as on 1973 1976-Sponsored first Regional Rural Bank Jammu Rural Bank 1976-Responsibility of payment of pension to Civil Pensioners of the State 1976-Bank declared as A Class bank 1979-Total No of Branches rose to 190 1980-Total No of Branches rose to 212 1981-Permission granted by RBI to deal in the Foreign Exchange business

1981-Sponsored another Regional Rural Bank Kamraz Rural Bank 1980- Lead Bank responsibility Convener of SLBC 1984-Customer Service Cell 1987-Introduction of MICR technology 1989-Historic period Golden Jubilee Creation of J&K Bank Golden Jubilee Development and Social ServicesTrust Organizing Credit camps Turmoil in the State 1991-1992-Financial Sector Reforms Initiatives of introducing New Technology Maiden Public IssueThe arduous but illustrious journey that spans over almost seven decades has been areal story of commitment and enterprise. Today J&K Bank is one of the very few banksthat combine the best of public ownership; stability and safety with the best of privatefunctioning; growth and efficiency. Having an almost exclusive geographical area of operations and supported by a dedicated community, the bank enjoys an almostmonopolistic 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 bankmaking 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 bydelivering outstanding performance in growth and profitability, catalyse growth in thestate economy and create enabling conditions for the financial empowerment of thepeople of J&K.Accordingly the Vision of J&K Bank is to engender and catalyse the economictransformation of Jammu and Kashmir and capitalize from the growth induced financialprosperity.The banks overriding mission is to use its core competence to serve and empower thepeople in general and entrepreneurs in particular. The bank identifies empowerment asa process of enhancing the capacity of individuals or groups to make choices and totransform those choices into desired actions and outcomes. The bank is set todemonstrate 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 growthopportunities in all its businesses. In recognition of its excellent customer service, fair business practices, total operational efficiency, overall performance, etc. the bank hasbeen felicitated so many times during the last few years.