Regulatory29 Jul 2026, 02:16 pm
J&K Bank Reports No Deviation in Fund Utilization
AI Summary
Jammu & Kashmir Bank Ltd has filed a Statement of Deviation & Variation for funds raised through preferential issues. The bank raised ₹250 crores on March 20, 2017, ₹282 crores on June 7, 2017, and ₹500 crores on March 31, 2020. For all these fund-raising events, the bank confirms there has been no deviation or variation in the utilization of funds. The funds were raised to meet the needs of growing business, long-term capital requirements for growth plans, and to maintain Capital Adequacy Ratio as per RBI guidelines. The report is filed for the quarter ended June 30, 2026.
Key Highlights
- No deviation reported in the utilization of funds raised via preferential issues.
- Funds raised totaling ₹1032 crores across three instances.
- Utilisation aligned with stated objectives: business growth and capital adequacy.
- Report covers funds raised in 2017 and 2020, filed for Q2 2026.
Price Impact
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