Jammu & Kashmir Bank Ltd has posted a net profit of Rs 891.80 million for the quarter ended December 31, 2002 (DQ-02) as compared to Rs 663.20 million in the quarter ended Dec 31, 2001(DQ-01).
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
However, Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever and ICICI Bank were the gainers.
An autonomous hydraulic-powered robot equipped with special machinery has been deployed to accelerate the search operation for seven people trapped inside a partially collapsed tunnel in Nagarkurnool, Telangana. The robot, equipped with a 30 HP capacity liquid ring vacuum pump and a vacuum tank machine, can remove up to 620 cubic meters of soil per hour using a conveyor belt. This technology aims to expedite the rescue efforts and enhance the efficiency of the operation. State Special Chief Secretary (Disaster Management) Arvind Kumar is supervising the search operation, which involves teams from the Army, NDRF, SDRF, HRDD, Singareni Collieries, a Hyderabad-based robotics company, and others.
The exchange of fire occurred even though the directors general of military operations of India and Pakistan spoke over the hotline on Tuesday amid rising tensions between the two countries over the Pahalgam terror attack on April 22.
For the ninth consecutive night, Indian and Pakistani troops engaged in small arms fire along the Line of Control (LoC) in Jammu and Kashmir, continuing a pattern of heightened border tensions. The skirmishes, initiated by Pakistani troops in violation of the ceasefire agreement, have led to a tense situation along the LoC and International Border (IB). The incidents come in the wake of the April 22 terror attack in Pahalgam, which claimed the lives of 26 people, mostly tourists. Civilians residing near the border have begun preparing their bunkers, anticipating potential escalation. Despite a recent hotline conversation between the Directors General of Military Operations (DGMOs) of India and Pakistan, where India cautioned Pakistan, the ceasefire violations persist.
World leaders, including US President Donald Trump, Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu, condemned the terror attack in Jammu and Kashmir that killed 26 people, expressing solidarity with India. The attack was claimed by The Resistance Front (TRF), a proxy of the Pakistan-based Lashkar-e-Taiba (LeT) terrorist group. The attack came during US Vice President J D Vance's maiden visit to India. Prime Minister Modi, who had arrived in Saudi Arabia on a two-day visit earlier in the day, cut short his visit and departed for New Delhi on Tuesday night following the attack.
Jammu & Kashmir Bank Ltd said the Bank is intending to offer stake in its equity holdings to foreign partner. However, no formal steps have been initiated at Board level in this respect.
Tagged as a sleepy, regional lender till a few years earlier, the bank's stock was not much talked about in the investors' community.
Moody's Ratings on Tuesday cut India's GDP growth projections for 2025 to 6.3 per cent, from 6.5 per cent, saying economies globally will see a slowdown on account of heightened US policy uncertainty and trade restrictions.
'The way the bank is doing in the past 4-5 quarters, no reason to see why we will not be able to achieve that.'
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
Mirza Tanners Ltd redeemed non-convertible debentures issued to Jammu & Kashmir Bank Ltd totaling Rs 100 million before maturity period to reduce costly funds.
After the Congress' shock defeat in Haryana, the opposition Indian National Developmental Inclusive Alliance (INDIA) parties flexed their muscles on Wednesday, accusing the grand old party of ignoring them.
The bank has made a budgetary provision of Rs 50-60 crore for the proposed 100 branches. Of these, 50 per cent would be in the northern region. According to B K Mahajan, general manager-HRM, "The Chandigarh region comprising Punjab, Haryana, Chandigarh and Jammu & Kashmir registered a business of Rs 1,904 crore as on March 31, 2009. Of this, deposits stood at Rs 600 crore and advances Rs 1,304 crore."
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK. While the banks argued a right to waive their security over the Indian assets involved in the case in order to recover their debt in the UK, lawyers for the 65-year-old businessman argued that the funds in question involved public money held by state-owned banks in India which precluded them from such a security waiver.
The withdrawal of the candidature by DPAP leaders on the last day on August 30 is seen as a boost to the NC-Congress alliance.
It won't be easy for the banking sector to better its performance every quarter, predicts Tamal Bandyopadhyay.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
The drop in net interest margin will separate the men from the boys, explains Tamal Bandyopadhyay.
Besides the national capital, polling for the sixth round of the marathon seven-phase elections will be held Saturday in 14 seats in Uttar Pradesh, all 10 seats of Haryana, eight seats each in Bihar and West Bengal, six seats in Odisha, four seats in Jharkhand and one seat in Jammu and Kashmir.
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
The son of a financially constrained tailor in Srinagar, Adil Altaf blazed to glory in the Boys 70km road race on Saturday.
'It is advisable to stay away from the markets for now and buy only on a dip.'
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
India maintains that the Kashmir issue is a bilateral one and no third party has any role in it.
'If democracy does not exist, if there are no political spaces, there is no media, there is no civil society, what do we rejoice?'
With the snow capped Himalayas in the backdrop, the camel ride in Ladakh was one of the most memorable moments for Ramila Rego.
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
The statement of the Minister of State in the Prime Minister's office comes on the heels of India issuing a notice to Pakistan seeking a review and modification of the IWT in view of Islamabad's "intransigence" in complying with the dispute redressal mechanism of the pact that was inked over six decades ago for sharing of waters of cross-border rivers.
The ruling Bharatiya Janata Party on Saturday announced Prime Minister Narendra Modi will fight again from Varanasi in the upcoming Lok Sabha elections as it named 34 Union ministers in the first list of 195 candidates.
Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances