In a first-of-its-kind initiative in the country, J&K Bank and the Directorate of Census Operations, Jammu & Kashmir and Ladakh, on Thursday entered into a strategic partnership to promote public awareness and participation in Census 2027 through the Bank's extensive branch network and digital outreach platforms.
The Federal Bank as well as the AU Small Finance Bank informed the stock exchange in separate filings here on Thursday, that the Reserve Bank of India (RBI) has cleared the acquisition of 9.99% stakes each in both banks by Kotak Mahindra Bank Ltd.
In its latest report titled 'Management of fixed assets by J&K Bank Limited', the auditor and Comptroller General of India (CAG) has come down heavily on the bank for 'wasteful expenditure', which includes over Rs 7 crore for a premises that was never used.
The Jammu and Kashmir Bank on Friday posted a 119 per cent growth in its net profit to Rs 243.49 crore for the quarter ended September 30 against Rs 111.09 crore in the year-ago period.
The Lt Governor asked the CMD of the bank to release the overdraft to the Jan Dhan account holders as per the financial package announced by the Centre and to implement the RBI guidelines regarding three-month long moratorium on payment of installments on term loans.
Ahmad's removal is part of action taken by Anti-Corruption Bureau, which was established a few months ago in the state.
Earlier reports had said the ACB raids were specifically being carried out in connection in 1,200 appointments made by the bank in 2017.
Immediately after the registration of FIR, searches of premises of Corporate Office J&K Bank Head Quarters and during search operations documents pertaining to the appointments were seized.
Informed sources told IANS that the scope of the ACB investigation has been extended to the loans and non-performing assets (NPA) portfolios of the bank.
A spokesman of the state government said on Saturday evening that the J&K Bank has also been directed repeatedly by the Reserve Bank of India (RBI) to separate the positions of Chairman and Managing Director for better governance.
