Jammu & Kashmir Bank Limited has issued a clarification to stock exchanges regarding the non-applicability of certain SEBI debt securities provisions to scheduled commercial banks. The bank formally communicated this exemption through an official letter dated April 1, 2026, addressed to both the National Stock Exchange of India and BSE Limited.

Regulatory Exemption Details

The bank clarified its status as a Scheduled Commercial Bank operating under the Second Schedule of the Reserve Bank of India Act, 1934. This classification provides the bank with specific regulatory exemptions from certain SEBI provisions that apply to other large entities.

SEBI Circular Provisions

The exemption specifically relates to Chapter-XII of SEBI's Operational Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, which deals with fund raising by issuance of debt securities by large entities. The bank emphasized that these provisions are not applicable due to its regulatory status under RBI supervision.

Official Communication

The clarification was formally communicated to both major stock exchanges where the bank's shares are listed. Company Secretary Mohammad Shafi Mir signed the official communication, which was digitally authenticated and sent to the exchanges for their information and records.

This clarification ensures regulatory compliance and provides transparency to stakeholders regarding the bank's exemption from specific SEBI debt securities provisions applicable to large entities in other sectors.

Jammu & Kashmir Bank Limited has announced significant changes in its senior management structure, promoting seven Deputy General Managers to General Manager positions effective March 31, 2026. The bank has also confirmed the retirement of one General Manager on the same date, marking a notable transition in its leadership team.

Senior Management Promotions

The bank has elevated seven executives from Deputy General Manager to General Manager positions, recognizing their contributions and extensive experience within the organization. The promoted executives demonstrate remarkable tenure with the bank, with service periods ranging from 29 to over 35 years.

Executive Profiles and Experience

The newly promoted General Managers bring diverse educational backgrounds and extensive banking experience to their enhanced roles. Mr. Riyaz Ahmed Wani leads in terms of tenure, having been associated with the bank since 1990 and handling critical assignments at operational and administration levels for over 35 years. He holds a Masters degree in Science with CAIIB certification.

Several executives joined the bank in the mid-1990s and have completed nearly three decades of service. Mr. Sanjay Gupta, associated since 1996, is an Arts graduate with CAIIB qualification. Ms. Anita Nehru, also joining in 1996, holds a Masters degree in Business Administration with CAIIB. Mr. Suresh Kumar Chowdhary, another 1996 recruit, possesses a Masters degree in Science with CAIIB.

Technical and Professional Qualifications

The promoted executives demonstrate strong technical and professional credentials. Mr. Aneet Kanwal Singh Bagee, associated with the bank since 1995, holds a bachelors degree in Computer Engineering. Mr. Irfan Anjum, also joining in 1995, possesses a bachelors degree in Electrical Engineering with CAIIB certification. Ms. Hafeeza Rahim, associated since 1997, is a Science graduate with CAIIB qualification.

Management Transition

Concurrently with the promotions, Mr. Nishi Kant Sharma, General Manager, has retired from the bank's services with effect from the close of business hours on March 31, 2026. His retirement results in his cessation as a Senior Management Personnel of the bank, creating the opportunity for the organizational restructuring.

Regulatory Compliance

The bank has made these announcements pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes comprehensive details as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full transparency regarding the senior management changes.