Jammu and Kashmir Bank has appointed Mr. Tsewang Tharchin, IA&AS (DIN: 11907418), as a Rotational Director on the Board of Directors, effective September 22, 2026. This appointment was approved by shareholders at the bank's 88th Annual General Meeting.

Mr. Tharchin is a 2007 batch officer of the Indian Audit and Accounts Service (IA&AS). He joined the Ladakh Administration as Commissioner Secretary, Finance Department on July 6, 2026. Prior to this role, he served as Accountant General (Audit), J&K from November 6, 2025. His career includes significant stints in audit and financial administration across various government bodies.

Board Changes and Capital Raise

During the AGM held in Srinagar, shareholders also took on record the retirement by rotation of Director R K Chhibber (DIN: 08190084). The casual vacancy created by his retirement was not filled at that meeting. Subsequently, the Board approved the appointment of Mr. Rajeev Gupta (DIN: 08316212) to fill this rotational director slot. Mr. Gupta brings over 33 years of professional experience in accounting, auditing, financial reporting, taxation, and regulatory compliance.

Shareholders also approved two key special business items during the AGM:

• Raising funds up to ₹1,000 crore through Tier-I capital instruments.
• Appointing Mr. Tsewang Tharchin, IA&AS (DIN: 11907418), as a Rotational Director.

Mr. Tharchin holds a BA from Kashmir University and a Diploma in Management from IGNOU. In the audit domain, he is a Certified Information Systems Auditor (CISA) and Certified Internal Auditor (CIA). He has conducted performance audits for international bodies including the World Intellectual Property Organization (WIPO) and the United Nations Office for the Coordination of Humanitarian Affairs (OCHA).

Financial Performance and Asset Quality

Managing Director & CEO Amitava Chatterjee stated that despite geopolitical uncertainties and inflationary pressures, the bank delivered strong results. Asset quality improved significantly, with Gross NPA declining from 3.37% to 2.50% and Net NPA falling from 0.79% to 0.64%.

Operating expenditure decreased by approximately 4%, leading to a moderated Cost-to-Income ratio of 56.18%. The bank recorded a Return on Assets of 1.37% and a Return on Equity of 16.85%. Capital Adequacy Ratio stood at 16.55%, with CET-1 at 13.54%, providing capacity for sustainable expansion.

The bank's total business expanded 13.6% to ₹2.90 lakh crore as of March 31, 2026. Deposits grew 11.30% to ₹1.65 lakh crore, while gross advances rose 16.8% to ₹1.25 lakh crore. The institution crossed the historic milestone of ₹3 trillion in total business by June 2026.

Key Financial Metrics FY26

Strategic Outlook

Chairman Sankarasubramanian Krishnan emphasized that future growth would be guided by core values of Trust, Tradition, and Transformation. He outlined an aspiration to achieve ₹5 trillion in business and ₹5,000 crore annual profit by 2030. The bank plans to focus on responsible growth, technology, customer service, governance, risk management, and cybersecurity.

Digital transactions grew to 94% during FY26, reflecting the bank's push towards becoming future-ready. The management reiterated its commitment to expanding presence across the country while serving the communities of Jammu & Kashmir and Ladakh.

Jammu and Kashmir Bank held its 88th Annual General Meeting (AGM) on September 22, 2026, approving all five proposed resolutions. The meeting, conducted at the Sher-i-Kashmir International Conference Centre in Srinagar, saw strong shareholder support for key corporate actions, including a proposal to raise up to ₹1,000 crore in Tier-I capital.

The bank had previously submitted a revised Integrated Annual Report for FY26 on September 23, 2026, to ensure accurate disclosure ahead of the meeting. This filing referenced Regulation 34 and Regulation 53 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following an earlier communication dated August 29, 2026. The revised report is available on the official website under the financial information section.

Voting results and key resolutions

The scrutinizer's report confirmed that all resolutions were passed with requisite majorities. Notably, the special resolution to raise funds (Tier-I), subject to a maximum of ₹1,000 crore, received overwhelming support with 99.91% of votes in favor. The adoption of audited standalone and consolidated financial statements for FY26 was approved with 99.50% support.

Other approved items included the fixation of remuneration for statutory auditors for FY27 and the appointment of Mr. Tsewang Tharchin as a rotational director. The retirement of Mr. R K Chhibber by rotation was also taken on record, with no casual vacancy filled at this meeting.

Regulatory compliance and availability

The submission of voting results and the consolidated scrutinizer's report was addressed to both the National Stock Exchange of India and the BSE Limited. These documents were filed pursuant to Regulation 44 of the SEBI LODR Regulations, 2015, and Section 108 of the Companies Act, 2013. The e-voting process, facilitated by M/s Bigshare Services Private Limited, ran from September 19 to September 21, 2026.

Shareholders are advised to review the updated documents before making any decisions. The revision likely addresses minor corrections or updates required by regulatory standards, with no significant changes to financial results explicitly highlighted in the cover letter.