Jammu & Kashmir Bank (JKB), a private sector scheduled commercial bank, has inaugurated one more Business Unit at Raipur in Satwari, Jammu. The bank has started an enormous financial literacy and account opening drive to make sure universal access to banking facilities with at least one basic account for every household under the ambitious Pradhan mantra Jan Dhan Yojna (PMJDY).
Jammu & Kashmir Bank is the only state government owned bank in the country with the Government of J&K (GoJK) holding around 53% shareholding in the bank. JKB holds a monopolistic position in the state of J&K constituting majority of the credit and deposits in the state.
