Jammu & Kashmir Bank has announced significant additions to its Board of Directors with the appointment of two Additional Directors, strengthening its governance structure with experienced professionals from administrative and banking sectors.

Board Appointments Approved

The Board of Directors approved the following appointments during its meeting held on April 22, 2026:

New Director Appointments

The bank has appointed two distinguished professionals to enhance its board composition:

Profile of Mr. Ashish Kundra, IAS

Mr. Ashish Kundra brings extensive administrative experience as an IAS officer of the 1996 batch (AGMUT Cadre). He currently serves as Chief Secretary, Union Territory of Ladakh, having assumed charge on January 01, 2026. His distinguished career includes:

• Delhi Government Roles: Principal Secretary to the Hon'ble Lieutenant Governor and Transport, focusing on policy formulation, infrastructure development, and urban transport
• Electoral Management: Chief Electoral Officer in Mizoram, managing electoral processes in challenging environments
• Northeast Experience: Commissioner & Secretary in Mizoram Government and District Magistrate, Saihat
• Union Territory Administration: Administrator of Daman & Diu and Dadra & Nagar Haveli (2014-2018)
• Author: "Resurgent Northeast – Narratives of Change" providing insights into Northeast India's development

Profile of Mr. Pravin Raghavendra

Mr. Pravin Raghavendra brings over 35 years of banking expertise, having held senior leadership positions at State Bank of India (SBI):

Key Career Highlights:

• Deputy Managing Director & Chief Operating Officer: Supervised operations of over 24,000 branches, led digital transformation and fraud management systems
• Deputy Managing Director (Agri & SME): Managed agriculture and MSME portfolios, introduced innovative loan products
• Chief General Manager, Mumbai Metro Circle: Led one of SBI's largest circles during Covid-19, achieving strong business growth and NPA reduction

Educational Qualifications:

• JAIIB - Indian Institute of Banking & Finance
• LLB - Patna Law College
• B.Sc. (Hons.) Mathematics - Patna Science College

Regulatory Compliance

The appointments comply with Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both directors have been confirmed as not being debarred from holding directorship by any SEBI order or other authority. The directors have disclosed no inter-se relationships with existing board members.

Corporate Governance Enhancement

These strategic appointments reflect the bank's commitment to strengthening its governance framework by bringing together administrative excellence and deep banking expertise. The addition of an experienced IAS officer and a seasoned banking professional is expected to enhance the board's oversight capabilities and strategic decision-making processes.

Mukul Mahavir Agrawal has increased his shareholding in Jammu & Kashmir Bank by 0.23% during the fourth quarter, marking a significant investment decision in the regional banking institution.

Shareholding Enhancement Details

The stake increase by Agrawal represents a notable move in the bank's investor landscape during Q4. This enhancement in shareholding reflects the investor's confidence in the bank's strategic direction and growth potential.

Investment Significance

The decision to raise stake in Jammu & Kashmir Bank during the fourth quarter indicates positive investor sentiment towards the regional banking institution. Such shareholding adjustments by individual investors often reflect their assessment of the company's fundamentals and future prospects.

About the Development

This stake enhancement adds to the diverse investor base of Jammu & Kashmir Bank, which serves as a prominent regional banking institution. The move by Agrawal to increase his position demonstrates active participation in the bank's equity structure during the reported quarter.