Jammu and Kashmir Bank has initiated a postal ballot process to seek shareholder approval for the appointment of two directors to its Board. The resolutions pertain to the appointment of Mr. Ashish Kundra, IAS, as a rotational director and Mr. Pravin Raghavendra as an independent director. The e-voting period is scheduled from June 12, 2026, to July 11, 2026.

The Bank has appointed CA Arshad Hussain Mir, a Practicing Chartered Accountant, as the scrutinizer to conduct the postal ballot in a fair and transparent manner. M/s Bigshare Services Private Limited has been engaged as the registrar to provide the e-voting facility. Shareholders registered as of June 05, 2026, are eligible to vote on these resolutions. Physical copies of the postal ballot notice are not being dispatched; members must use the remote e-voting facility to participate.

Resolutions for Approval

The first resolution seeks approval for the appointment of Mr. Ashish Kundra, IAS (DIN: 06966214), as a rotational director. He was initially appointed as an additional director on April 23, 2026, and is liable to retire by rotation. The Board recommends this ordinary resolution based on the recommendation of the Nomination and Remuneration Committee.

The second resolution proposes the appointment of Mr. Pravin Raghavendra (DIN: 09686944) as an independent director for a term of three years commencing from April 23, 2026, to April 22, 2029. He was also appointed as an additional director on April 23, 2026. This special resolution is subject to the provisions of the Banking Regulation Act, 1949.

Director Profiles

Mr. Ashish Kundra, an IAS officer of the 1996 batch, is currently the Chief Secretary of the Union Territory of Ladakh. He holds 4,58,29,445 shares in the Bank and has attended one out of two board meetings since his appointment.

Mr. Pravin Raghavendra is a retired banking professional with over 35 years of experience, formerly serving as Deputy Managing Director & Chief Operating Officer at State Bank of India. He has received sitting fees of ₹1,20,000 since his appointment and holds no shares in the Bank.

Voting Schedule and Process

The remote e-voting facility will be available to shareholders from June 12, 2026, at 09:00 hours IST until July 11, 2026, at 17:00 hours IST. The results of the voting will be announced on or before July 14, 2026, and will be displayed on the Bank's website and the website of M/s Bigshare Services Private Limited.

Shareholders can cast their votes electronically through the NSDL or CDSL depository systems or via the Bigshare e-Voting portal.

Jammu & Kashmir Bank has released an investor presentation for its domestic non-deal roadshows and one-on-one meetings scheduled from May 18 to May 20, 2026, in Mumbai. The presentation outlines the bank's strategic transformation and financial performance, highlighting a significant turnaround since the fiscal year 2019-20. The disclosure, referencing letter number JKB/BS/F3652/2026/041 dated May 17, 2026, was submitted to the National Stock Exchange of India Limited and The BSE Limited.

Financial Performance and Turnaround

The bank reported a net profit of Rs. 2363 crore for the fiscal year 2026, marking a Compound Annual Growth Rate (CAGR) of 40.5% from FY 2021 to FY 2026. This recovery contrasts sharply with the net loss of Rs. 1139 crore recorded in FY 2020. The bank's net worth has crossed Rs. 15,000 crore, and its market capitalization surpassed Rs. 15,000 crore in May 2026, representing a 17-fold increase. The Return on Assets (RoA) stood at 1.37%, while the Return on Equity (RoE) was 16.85% for the period ending March 2026.

Operational Metrics and Asset Quality

Jammu & Kashmir Bank demonstrated robust operational health with Gross Advances reaching Rs. 78,400 crore and Deposits at Rs. 1,11,900 crore as of March 2026. The bank has significantly improved its asset quality, with Gross Non-Performing Assets (GNPA) reducing to 2.50% and Net NPA to 0.64% in March 2026, down from GNPA levels of 10.97% in March 2020. The Capital to Risk-weighted Assets Ratio (CRAR) strengthened to 16.55%, well above the regulatory minimum, and the Provision Coverage Ratio (PCR) improved to 90.33%.

Strategic Outlook and Vision 2030

The bank's presentation emphasized its "Vision 2030" goals, which include targeting a business level of Rs. 5 lakh crore and an annual profitability of Rs. 5000 crore by FY 2030. Management aims to reduce Gross NPA to 1% or below and enhance business contributions from regions outside Jammu & Kashmir and Ladakh. The bank's stock performance has outperformed the Bank Nifty index with a CAGR of 48% compared to the index's 19% between March 2020 and April 2026.