Jammu & Kashmir bank is reportedly planning to open branches overseas viz, London and Dubai to reach out to the Kashmiri diaspora and to channelize investments into the state. Further, the bank will soon apply to the Reserve Bank of India (RBI) to secure a licence for the same.
Meanwhile, the Bank has conducted several financial literacy and credit counselling camps across the state. The camps were attended by large number of people belonging to various sectors of economy. A Financial Literacy and Credit Counseling session was organized at Arampora Sopore in which 20 female trainees undergoing six months training in cutting and tailoring through District Urban Development Agency in collaboration with Women’s Polytechnic Srinagar participated.
The bank has reported a rise of 25.12% in its net profit at Rs 307.92 crore for the quarter, as compared to Rs 246.09 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 9.36% to Rs 1716.47 crore for the quarter under review as compared to Rs 1569.53 crore for the quarter ended June 30, 2012.
