Assessment Of Working Capital At Jammu And Kashmir Bank

Project On Assessment Of Working Capital At Jammu And Kashmir Bank

INTRODUCTION TO J&K BANK

J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country. It is also the only private sector bank designated as RBI’s agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT.
J&K Bank follows a two-legged business model whereby it seeks to increase lending in its home state which results in higher margins despite modest volumes, and at the same time, seeks to capture niche lending opportunities on a pan-India basis to build volumes and improve margins.
J&K Bank operates on the principle of ‘socially empowering banking’ and seeks to deliver innovative financial solutions for household, small and medium enterprises. The Bank , incorporated in 1938, and is listed on the NSE and the BSE. It has a track record of uninterrupted profits and dividends for four decades. The J&K Bank is rated P1+, indicating the highest degree of safety by Standard & Poor and CRISI

VISSION

“To catalyses economic transformation and capitalize on growth.”

Our vision is to engender and catalyze economic transformation of Jammu and Kashmir and capitalize from the growth induced financial prosperity thus engineered. The Bank aspires to make Jammu and Kashmir the most prosperous state in the country, by helping create a new financial architecture for the J&K economy, at the center of which will be the J&K Bank.

HISTORY:

Traditional money lenders till 1920-30 performed entire banking in the state of Jammu and Kashmir at exorbitant interest rates. At the same time some banks functional but at a very limited scale, such as Punjab national bank, grind lays bank and imperial bank of india.The role of these banks was reduced to the acceptance of the deposits, as they could not grant loans and advances to the people of the state owing to the statutory limitations. Under this scenario banks could not ameliorate the financial and the social position of people of the state. To overcome this critical situation then the maharaja of this state convinced an idea of setting up of a state bank in the state. After prolonged exercises and deliberations of the assignment for establishment of “Jammu and Kashmir Bank Ltd”was given to the late sir Sorabji N Pochkkanwala, then managing director of the central bank of India. Mr. S N Pochkkhanwala formulated a scheme on 24:09:1930,suggesting establishment of a semi state bank with participation in capital by state and public under the control of state government. Thus the bank was formally incorporated on 1 st of October 1938 and commenced business from 4 th July 1939 at its registered office, residency road Srinagar Kashmir.

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