J&K Bank Has Rs 7,711.6 Cr Gross NPAs, Rs. 2,810.32 Cr Net NPAs: Govt

JK Bank Headquarters in Srinagar (File Photo: Abid Bhat / KO)

SRINAGAR - Jammu and Kashmir bank has Rs. 7,711.60 crore gross non-performing assets and Rs. 2,810.32 crore net non-per­forming assets, according to RBI’s quarterly result for December last year.

The information was re­vealed in the parliament, presently in its budget ses­sion, on Monday by Min­ister of State for Finance Anurag Singh Thakur in response to a question by National Conference MP Hasnain Masoodi.

In response to another question by Masoodi, a former judge of the J&K high court, the minister, according to GNS, said that RBI has informed that over the period from 1.4.2019 to 21.2.2020, it has received 608 complaints against Jammu and Kashmir Bank, which are related to vari­ous banking matters such as ATM debit/credit cards related, mobile/electronic banking, levy of charges without prior notice, etc.

The Reserve Bank of In­dia (RBI) is the regulator and supervisor of the bank­ing system, as per pow­ers conferred by relevant provisions of the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, and other relevant statutes.

RBI, the minister said, has informed that Jammu and Kashmir Bank is a sched­uled private sector bank, li­censed under section 22(1) of Banking Regulation Act, 1949. “Thus, Jammu and Kashmir Bank is licensed, regulated and supervised by RBI,” the minister said in response to question by Masoodi regarding the present status of Jammu and Kashmir bank in the Reserve Bank of India and the details of the role of Ministry in the functioning and management of Jammu and Kashmir bank. (GNS)

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