Jammu & Kashmir Bank Limited has announced the resignation of Dr. Pawan Kotwal, IAS, from his position as Non-Executive Non-Independent Director, effective January 01, 2026. The resignation follows his attaining the age of superannuation on December 31, 2025.

Board Change Details

The bank has informed both the National Stock Exchange of India Limited and The BSE Limited about this directorship change in compliance with Regulation 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Communication

Dr. Kotwal formally communicated his resignation through a letter dated January 01, 2026, addressed to the Board of Directors. In his resignation letter, he stated that he was tendering his resignation "consequent upon my attaining the age of superannuation on 31st December, 2025" and requested that his resignation be accepted with immediate effect.

The outgoing director expressed his appreciation to the Board, Management, and fellow Directors for their cooperation and support during his tenure. He noted that "it has been a privilege to serve the Bank" and wished the institution "continued growth and success in the years ahead."

Regulatory Compliance

The bank has fulfilled its disclosure obligations under SEBI regulations by providing the requisite details as prescribed under Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification also complies with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Mohammad Shafi Mir, Company Secretary of Jammu and Kashmir Bank Limited, signed the official communication to the stock exchanges, confirming that Dr. Kotwal has ceased to be a Director on the Board of the Bank following his resignation.

Jammu & Kashmir Bank Limited announced the re-appointment of Ms. Shahla Ayoub as an Additional Independent Director for a three-year term. The Board of Directors approved this decision during their meeting held on December 23, 2025, subject to shareholder approval.

Director Re-appointment Details

The bank's Board has approved Ms. Shahla Ayoub's re-appointment in the category of Independent Directors for a further period of three years. Her new term will be effective from December 26, 2025, to December 25, 2028 (both days inclusive).

Professional Background

Ms. Shahla Ayoub is described as a young Economist of J&K who currently serves as an Assistant Professor in the Department of Higher Education, Government of J&K. She previously worked as Assistant Director in Economics and Statistics, Department of Planning, Monitoring and Development Department, Government of J&K before joining the Department of Higher Education.

Her expertise spans several areas of economic research, with particular focus on:

• Conflict Economics
• Financial Inclusion
• Developmental Economics

Academic Contributions

Ms. Ayoub has made significant contributions to academic research and publications. She has authored works on subjects including Governance, Conflict & Economic Warfare, and Economic Welfare. Her research portfolio demonstrates expertise in areas directly relevant to banking and financial services.

She supervises Post Graduate Research Dissertations at the Department of Economics, Cluster University Srinagar, and has actively participated in National and International Conferences. Her presentation topics have included:

• Response of Households to Conflict
• Financial Inclusion of Handicraftsmen in District Srinagar
• Rural Households of Kashmir & Financial Inclusion under PMJDY
• Healthcare Infrastructure in Kashmir Valley

Board Meeting Details

The Board meeting that approved this re-appointment was held on Tuesday, December 23, 2025. The meeting commenced at 11:00 A.M. and concluded at 08:05 P.M. The bank has confirmed that Ms. Shahla Ayoub is not debarred from holding the office of Director by any SEBI order or any other authority.

This re-appointment reflects the bank's confidence in Ms. Ayoub's expertise and her contribution to the Board's governance and strategic direction.