Detailed Summary

Meeting Details

The 88th Annual General Meeting of Jammu and Kashmir Bank Limited was held on Tuesday, 22nd September, 2026 at 1100 hours at Sher-i-Kashmir International Conference Centre, Srinagar.

Attendance

  • 298 members were present in person
  • 03 persons were present through proxy
  • Board members present: Mr. Sankarasubramanian Krishnan (Part Time Non-Executive Chairman), Mr. Amitava Chatterjee (Managing Director & CEO), Mr. Shailendra Kumar (IAS, Government Nominee Director), Mr. Tsewang Tharchin (IA&AS, Additional Director RBI Nominee Director), Mr. Sanjiv Dayal (Director), Mr. R. K. Chhibber (Chairman Stakeholders Relationship Committee), Mr. Anand Kumar (Chairman Nomination and Remuneration Committee), Mr. Sudhir Gupta (Independent Director), Ms. Shahla Ayoub (Independent Director), Mr. Arun Gandotra (Independent Director), Mr. Prafulla Premsukh Chhajed (Chairman Audit Committee), and Mr. Pravin Raghavendra (Independent Director)
  • Other attendees: Mr. Mohammad Shafi Mir (Company Secretary), Mr. Ketan Kumar Joshi (Chief Financial Officer), Mr. Ghulam Jeelani Reshi (Practicing Company Secretary, Scrutinizer for e-voting & Poll Process), representatives of Statutory Central Auditors, and Secretarial Auditor

Chairman's Address Highlights

Mr. Sankarasubramanian Krishnan highlighted the Bank's record performance including:

  • Highest-ever annual profit of ₹2,363.47 crore
  • Total business of ₹2,90,341 crore as at 31 March 2026
  • Improvement in asset quality and capital adequacy
  • Crossing of ₹3 trillion business milestone in Q1 FY27
  • Emphasized digital transformation while maintaining human connection with customers
  • Stressed importance of strong governance, risk management, and cybersecurity
  • Outlined aspiration of building ₹5 trillion business and achieving ₹5,000 crore annual profit by 2030

MD & CEO's Address Highlights

Mr. Amitava Chatterjee presented the Bank's financial and operational performance:

  • Fourth consecutive year of record profitability with net profit of ₹2,363 crore (13.5% YoY growth)
  • Total business increased by 13.6% to ₹2.90 lakh crore as at March 31, 2026
  • Deposits grew by 11.30% to ₹1.65 lakh crore with CASA ratio at 45.65%
  • Gross advances increased by 16.8% to ₹1.25 lakh crore
  • Gross NPA ratio declined from 3.37% to 2.50%
  • Net NPA ratio improved from 0.79% to 0.64%
  • Operating expenditure reduced by around 4%
  • Cost-to-Income ratio moderated to 56.18%
  • Return on Assets at 1.37% and Return on Equity at 16.85%
  • Capital Adequacy Ratio reached 16.55% (highest-ever) with CET1 at 13.54%
  • Continued investments in digital platforms, data analytics, and cybersecurity

Voting Process and Results

E-voting was conducted from 0900 hours on 19th September, 2026 to 1700 hours on 21st September, 2026 through Bigshare Services Private Limited. Poll was taken at the AGM with the following results:

Item 1: Consideration and Approval of Accounts

  • Type: Ordinary Resolution
  • Total votes polled: 813,311,760
  • In favor: 809,258,165 (99.50%)
  • Against: 2,243,992
  • Abstained: 1,809,603
  • Result: PASSED

Item 2: Remuneration of Auditors

  • Type: Ordinary Resolution
  • Total votes polled: 813,311,660
  • In favor: 811,368,014 (99.76%)
  • Against: 1,230,444
  • Abstained: 713,202
  • Result: PASSED

Item 3: Raising of Capital (Tier - I) up to ₹1000 Crores

  • Type: Special Resolution
  • Total votes polled: 813,311,760
  • In favor: 812,558,710 (99.91%)
  • Against: 39,848
  • Abstained: 713,202
  • Result: PASSED

Key Terms of Capital Raise Resolution:

  • Maximum amount: ₹1,000 Crores
  • Instruments: Equity shares and/or other permitted securities convertible into equity
  • Methods: Private Placement/Qualified Institutional Placement (QIP)/other RBI-approved modes
  • Government of UT of J&K shareholding to be maintained at minimum 51%
  • Pricing for QIP: Not less than QIP Floor Price (as per ICDR Regulations), with possible discount up to 5%
  • Minimum 10% allocation to Mutual Funds
  • Securities to rank pari passu with existing equity shares

Item 4: Retirement by Rotation of Mr. R K Chhibber

  • Type: Ordinary Resolution
  • Total votes polled: 813,311,760
  • In favor: 812,597,131 (99.91%)
  • Against: 1,427
  • Abstained: 713,202
  • Result: PASSED

Item 5: Appointment of Mr. Tsewang Tharchin as Rotational Director

  • Type: Ordinary Resolution
  • Total votes polled: 813,311,760
  • In favor: 797,263,020 (98.03%)
  • Against: 15,335,538
  • Abstained: 713,202
  • Result: PASSED

Other Proceedings

The Company Secretary read out the Auditor's Report, comments received from C&AG of India along with the Bank's response, and Secretarial Auditor's Report. A question-answer session was conducted where queries from members were addressed by the Chairman and MD & CEO. The meeting concluded at 01:05 PM.