Jammu & Kashmir Bank, a private sector scheduled commercial bank, has opened new business unit at Ahmad Nagar in Srinagar. With this the total number of business units of the bank has reached to 836.
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. J&K Bank holds a monopolistic position in the state of J&K constituting majority of the credit and deposits in the state.