Jammu & Kashmir Bank (J&K Bank), a private sector scheduled commercial bank, has opened new business unit at Jammu in Block Bhawal. Besides, in order to increase awareness about the basics of banking and finance, J&K Bank conducted various financial literacy camps, which were financially supported by NABARD in Shopian, Kulgam and Ganderbal districts.
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.