J&K Bank Park

Marvel Kashmir 59 months ago

Good place
The Jammu and Kashmir Bank was founded on 1 October 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Maharaja Hari Singh. The Maharaja had invited eminent investors to become the founding directors and shareholders of the bank. The most notable of which were Pandit Sriniwas Magotra, Abdul Aziz Mantoo, Pesten jee and the Bhaghat Family, all of whom acquired major shareholdings.

The bank commenced the banking business on 4 July 1939 and was considered the first of its nature and composition as a State owned bank in the country. The bank was established as a semi-State Bank with participation in capital by State and the public under the control of State Government. In year 1971, the bank had acquired the status of a scheduled bank and was declared as an "A" Class bank by the Reserve Bank of India in 1976.

The bank had to face serious problems at the time of independence when out of its total of ten branches two branches of Muzaffarabad, Rawalakot and Mirpur fell to the other side of the line of control (now Pakistan administered Kashmir) along with cash and other assets.Following the extension of Central laws to the state of Jammu & Kashmir, the bank was defined as a government company as per the provisions of Indian companies act 1956.

Fatima Mushtaq 23 months ago

Well maintained and very much cooperative people

Cute Kids 59 months ago

Located at the start of the famous Dal Lake, it is called dalgate: meaning the gate to Dal, this place is shoppers paradise with many parks and gardens around.