J&K Bank has Rs 7,711.6 cr gross NPAs: Govt

Srinagar: Minister of State for Finance Anurag Singh Thakur on Monday informed Parliament that the Jammu and Kashmir Bank has Rs 7,711.60 crore gross non-performing assets (NPAs) and Rs 2,810.32 crore net non-performing assets, according to RBI’s quarterly result for December last year.
The information was given in Parliament in response to a question by National Conference MP Hasnain Masoodi.
In response to another question by Masoodi, , the minister said that the RBI has informed that over the period from April 2019 to February 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), 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 a question by Masoodi regarding the present status of Jammu and Kashmir Bank and the details of the role of the Ministry of Finance in the functioning and management of Jammu and Kashmir Bank.

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