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Jammu & Kashmir Bank Limited (J&K Bank) is an Indian private sector bank headquartered in Srinagar, Jammu and Kashmir. [2] The Jammu and Kashmir Bank was incorporated on 1 October 1938, by the then ruler of the princely state of Jammu and Kashmir Maharaja Hari Singh with an initial paid up capital of ₹5.00 Lakh.
Bank of Azad Jammu & Kashmir is the state-owned bank of Government of Azad Kashmir which is based in Muzaffarabad, Azad Kashmir. [3] [4] It was founded in 2005. [5] BAJK has a network of 84 branches. [6] [7]
In 2019, following the formation of the union territories of Jammu and Kashmir, the Anti-corruption Bureau started investigations into alleged corrupt practices by a number of bank officials, including former bank chairpersons Parvaiz Ahmad Nengroo and Mushtaq Ahmad Sheikh. [7] [8]
Regional rural banks (RRBs) are government owned scheduled commercial banks of India that operate at the regional level in different states of India.These banks are under the ownership of the Ministry of Finance, Government of India, Sponsored Bank and concerned State Government in the ratio of 50:35:15 respectively.
The Banking Regulation Act, 1949 is a legislation in India that regulates all banking companies in India. [1] Passed as the Banking Companies Act 1949, it came into force on 16 March 1949 and changed to Banking Regulation Act 1949 from 1 March 1966. It is applicable in Jammu and Kashmir from 1956.
Parvez Ahmad was chairman and CEO of Jammu and Kashmir Bank. He was removed by the state government on the charges of "mis-governance". He is the second chairman and CEO of J&K Bank, after Haseeb A Drabu, to be suddenly removed by the J&K state government. [1] [2] On 23 September 2021, Nengroo joined the Jammu and Kashmir People's Conference [3]
Haseeb A Drabu (born 1961) is an Indian politician, economist and the former member of Jammu and Kashmir Legislative Assembly from Rajpora constituency in Pulwama district. [1] He was elected as Finance Minister of Jammu and Kashmir in the BJP-PDP coalition government from 2015 to 2018. [2]
PNB MetLife India Insurance Company Limited (PNB MetLife) established in 2001 is one of the leading life insurance companies in India.PNB MetLife shareholders include MetLife International Holdings LLC (MIHL), Punjab National Bank (PNB), Jammu & Kashmir Bank Limited (JKB), and M. Pallonji and Company Private Limited, as well as other private investors.