Increasing its digital footprint to further public convenience, Jammu & Kashmir Bank (J&K Bank) has commissioned a network of 11 Cash Deposit Machines (CDM) across the state, wherein cash can be deposited in Savings, Current, Cash Credit, Overdraft and Credit Card accounts maintained with the bank. The Debit Card at CDM enables depositing of cash in the cardholders accounts only and not in accounts of any other person. However, accessing the CDM through an account number will enable deposit of cash in the account number entered, which can be of the depositor or of any other person. Like ATM transactions, the money deposited in CDM gets reflected in the account balance in real time.
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.
