Jammu & Kashmir Bank Independent Directors Complete Second Term

Jammu & Kashmir Bank has announced the cessation of two independent directors following the completion of their tenure. The bank informed stock exchanges that Mr. Anil Kumar Goel and Mr. Umesh Chandra Pandey have concluded their second term as Independent Directors on January 20, 2026, after closure of business hours.

Regulatory Disclosure Details

The bank filed the disclosure pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Mohammad Shafi Mir communicated the cessation details to both the National Stock Exchange of India Limited and BSE Limited.

Director Cessation Information

The following table provides the complete details of the directorship cessation as required under SEBI regulations:

Parameter:	Details
Directors:	Mr. Anil Kumar Goel (DIN: 00672755) and Mr. Umesh Chandra Pandey (DIN: 01185085)
Reason for Change:	Completion of term as Independent Director
Cessation Date:	January 20, 2025 (Close of business hours)
Director Relationship:	No inter-se relationship disclosed

Compliance Framework

The disclosure follows the requirements under clause 7 of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank also referenced SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, in its compliance framework.

Corporate Governance Impact

Both directors served their complete second term as Independent Directors on the bank's board. The cessation represents a natural conclusion of their tenure under corporate governance norms. The bank has confirmed no debarment issues related to the departing directors and disclosed no inter-se relationships between the directors.

The announcement reflects standard corporate governance practices where independent directors complete their prescribed tenure limits. Jammu & Kashmir Bank has ensured full regulatory compliance by providing timely disclosure to stock exchanges and stakeholders about the board composition changes.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.77%	-1.18%	+0.47%	-13.13%	+0.98%	+242.28%

Jammu & Kashmir Bank Limited has submitted its quarterly Statement of Deviation/Variation in fund utilisation to stock exchanges for the quarter ended December 31, 2025, pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The statement confirms no deviations in the utilisation of funds across multiple capital-raising exercises conducted by the bank.

Fund Raising Overview

The bank's comprehensive statement covers nine separate fund-raising exercises conducted between 2017 and 2023, totaling ₹2,800.00 crores. These capital infusions were executed through various modes including Preferential Issues, Employee Stock Purchase Schemes (ESPS), and Qualified Institutional Placements (QIP).

Fund Raising Mode:	Date	Amount Raised
Preferential Issue	20-03-2017	₹250.00 crores
Preferential Issue	07-06-2017	₹282.00 crores
Preferential Issue	31-03-2020	₹500.00 crores
Preferential Issue	16-09-2021	₹500.00 crores
ESPS	24-09-2021	₹150.00 crores
QIP	01-04-2022	₹93.50 crores
ESPS	21-03-2023	₹274.75 crores
QIP	15-12-2023	₹750.00 crores

Fund Utilisation Status

The bank reported complete utilisation of all raised funds in accordance with their original objectives. Each fund-raising exercise was designed to meet the needs of growing business including long-term capital requirements for pursuing the bank's growth plans and to maintain the Capital Adequacy Ratio as per regulatory guidelines laid down by the Reserve Bank of India.

Regulatory Compliance

The statement indicates no monitoring agency oversight was required for any of the fund-raising exercises. The bank confirmed that no modifications were made to the original objects for which funds were raised, and no shareholder approvals were sought for any changes in fund utilisation.

Compliance Parameter:	Status
Deviation/Variation in Fund Use	No
Monitoring Agency Required	Not Applicable
Audit Committee Comments	NIL
Auditor Comments	NIL
Modified Objects	None

Documentation and Submission

The statement was signed by Mohammad Shafi Mir, Company Secretary of Jammu & Kashmir Bank Limited, and submitted to both the National Stock Exchange of India Limited and BSE Limited on January 20, 2026. The comprehensive documentation demonstrates the bank's adherence to regulatory requirements and transparent reporting of fund utilisation across all capital-raising activities.

The consistent pattern of complete fund utilisation without deviations across multiple years reflects the bank's disciplined approach to capital management and regulatory compliance. All funds have been deployed according to their stated purposes of supporting business expansion and maintaining adequate capital ratios in line with banking regulations.