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J&K Bank net profit jumps over 10% YoY for Q3

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J&K Bank net profit jumps over 10% YoY for Q3

Srinagar, Jan 20: Jammu and Kashmir Bank today announced healthy financial results for the October-December quarter (Q3 FY 25-26), with net profit rising by 18.7% Quarter-on-Quarter and 10.4% year-on-year (YoY) to Rs 586.73 Cr when compared to Rs 531.51 Cr recorded during the same period last fiscal.

The Bank’s Board of Directors approved the numbers for the quarter and nine-months during a meeting held today at the Bank’s Divisional Office in Jammu.

Meanwhile, the Bank’s net profit for the first nine months of current financial year grew 4.5% YoY to Rs 1565.68 Cr as against Rs 1497.92 Cr recorded for the same period last year, reflecting its sustained growth trajectory.

Operating Highlights

The Bank’s Net Interest Margin (NIM) for the quarter has improved to 3.62%, up by 6 bps QoQ. Cost-to-Income Ratio of the Bank improved to 55.88% YoY for the quarter from 57.28%, while as Return on Assets (RoA) for nine-months stood at 1.23%.

The Bank’s operating metrics reflected steady growth, as the Net Interest Income (NII) witnessed 3.8% growth QoQ to Rs 1488.88 Cr, while the Other Income for the quarter surged 15.3% YoY to Rs 279.46 Cr from Rs 242.32 Cr recorded last financial year. The Bank’s Cost of Deposits also declined to 4.69% QoQ from 4.86%.

Commenting upon operating performance, MD & CEO Amitava Chatterjee said, “Despite rate cut, impairment provisioning for Grameen Bank and challenging conditions – particularly the events of April 22, their subsequent impact, and the floods that disrupted the local economy – the Bank remains firmly on track to deliver record profits for the fourth consecutive year.”

“Characterized by robust top-line growth and better asset quality, overall our Q3 performance underscores our strong fundamentals, disciplined execution, and sustained operational efficiency”, MD & CEO added.

Asset Quality

The Bank’s Gross NPA ratio declined YoY to 3.00%, down by 108 basis points (bps) from 4.08%, while as the Net NPA reduced by 26 bps YoY to 0.68% from 0.94% and 8 bps QoQ from 0.76%. The Provision Coverage Ratio (PCR) for the quarter is above 90% at 90.46%.

In his comments on asset quality, MD & CEO Amitava Chatterjee remarked, “Even as our core geography has navigated significant challenges extending beyond the banking sector, the Bank’s asset quality has continued to improve steadily. Supported by robust risk management practices, Gross NPAs have declined from around 4 percent to 3.00% percent, which is almost in line with our stated annual guidance.”

“The sustained improvement in asset quality despite such disturbances speaks volumes about the resilience and commitment of borrowers and the underlying robustness of the local economy”, he added.

Business Growth

Maintaining strong business momentum during the third quarter of the current financial year, the Bank recorded a robust YoY growth of 17.3% in gross advances and a healthy YoY growth of 10.6% in deposits. As on December 31, 2025, the Bank’s gross Advances surged to Rs 116248 Cr while total deposits reached Rs 155861 Cr.

Commenting on the business growth, MD & CEO Amitava Chatterjee said, “Delivering over 17% year-on-year growth in advances – well ahead of the guidance we had shared with the market – reflects the strength of our franchise, the effectiveness of our credit strategy and the meticulous execution by our teams on the ground. Double-digit growth of deposits in a competitive environment also highlights the trust reposed in the Bank by our customers.”

“The accelerated advances growth was driven by focused expansion in retail, MSME, agriculture and select corporate portfolios, supported by improved credit appetite and strengthened customer engagement across both core and emerging geographies. Our consistent focus on deepening relationships within JKL and beyond, improving product penetration and enhancing service delivery continues to support stable balance-sheet expansion”, he added.

Capital Adequacy

The Bank’s Capital Adequacy Ratio (CAR) under Basel III stood at 15%.

Regarding capital position, MD & CEO remarked, “With our CAR at 15% – which will be further augmented by internal accruals on account of net profit for current fiscal – we are well capitalized to expand our lending operations as per our business plan. Moreover, the board approved capital raise of Rs 1250 Cr will boost our capital adequacy and cushion us comfortably to support calibrated business expansion across key sectors.”

“It will enhance our ability to absorb risk, while reinforcing our long-term focus on sustaining asset quality, improving profitability and creating enduring value for our shareholders”, he added.

Key Initiatives

Highlighting the Bank’s key initiatives during the CFY so far, MD & CEO Amitava Chatterjee remarked, “During these quarters, we remained steadfast in supporting our customers, particularly through initiatives such as the 2025 Rehabilitation Package for disturbance-affected borrowers, which provided extended repayment timelines and additional credit support. This underscores our role as a responsible institution committed to sustaining livelihoods and economic activity in our core operational geographies.”

Terming digital transformation as central to the Bank’s strategy, he further added, “Simultaneously, we accelerated our digital transformation with the launch of several customer-focused innovations to strengthen customer experience, improve security and efficiency, and position the Bank for sustained, technology-led growth.”

On the occasion, MD & CEO Amitava Chatterjee extended heartfelt gratitude to the customers and stakeholders – especially the promoters – for their unwavering trust and continued support besides entire Bank staff for their steadfast dedication.

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Union Sports Minister congratulates Ladakh for showing capability to host Khelo India Winter Games

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Union Sports Minister congratulates Ladakh for showing capability to host Khelo India Winter Games

Leh (Ladakh), Jan 20: The curtains went up on the sixth edition of the Khelo India Winter Games at the Nawang Dorjan Stobdan (NDS) Stadium here on Tuesday. The Ladakh phase of the winter Games, that will host ice sports like skating and hockey, will conclude on January 26. This is the third time that the Union Territory of Ladakh is hosting KIWG. The snow leg of KIWG will be held in Gulmarg, Jammu & Kashmir later this year.

At a colourful opening ceremony, punctuated by traditional music and dance and an exhibition ice hockey match between Army XI and UT Ladakh, Khelo India Winter Games 2026 were declared open by the Lieutenant Governor of Ladakh, Kavinder Gupta. The first leg of Khelo India Winter Games 2026 will be organised by the Youth Services and Sports department of the Union Territory of Ladakh under the supervision of the Sports Authority of India. The technical expertise for the conduct of the Games will be provided by the national sports promotional bodies/federations managing ice sports.

In a message to Ladakh, Dr Mansukh Mandaviya, the Minister for Youth Affairs & Affairs, said: “I congratulate the Union Territory of Ladakh for successfully hosting the Khelo India Winter Games once again and for demonstrating, with confidence and capability, that India’s winter sports future is being built from the Himalayas outward. Under the visionary leadership of the Prime Minister Narendra Modi, Ladakh has emerged as a symbol of what focused policy, infrastructure development, and local commitment can achieve. The manner in which these Games have been organised sends a clear national signal that winter sports are now an integral part of India’s competitive sporting framework and will be pursued with seriousness, scale, and long-term intent.”

Dr Mandaviya added, “The Khelo India Winter Games 2026 have been deliberately designed as a two-leg competition, with ice sports in Leh followed by snow events in February at Gulmarg in the Union Territory of Jammu & Kashmir, to build depth, continuity, and high-quality competitive exposure for athletes. This structure allows athletes to test themselves across varied terrains and conditions, closely aligned with international winter sport standards. Such sustained domestic competition is essential if India is to move beyond sporadic participation and steadily build credibility, consistency, and competitiveness in winter Olympic disciplines over the coming years.”

In his speech, Gupta expressed how Ladakh has benefitted from Prime Minister Narendra Modi’s vision on promotion of sports in India. “Under the visionary leadership of Prime Minister Narendra Modi, India’s sporting culture has received a renewed impetus. Through the Khelo India initiative, youth empowerment, physical fitness, and sporting excellence have been elevated as national priorities.”

Gupta added: “Hosting the Khelo India Winter Games continuously for the past three years is a matter of great pride for Ladakh. It reflects the nation’s confidence in Ladakh’s capability, commitment, and excellence in event management.”

One thousand and sixty participants, including 480 athletes, will take part in KIWG 2026 to be played across three venues – the new-look NDS Stadium, Gupukh’s Pond and the Ladakh Scouts Regimental Centre rink. Figure skating, an Olympic sport where Indians are showing international progress, is making its debut at these Games. Some of India’s best skaters will be taking part in this edition of KIWG.

Present in the opening ceremony were Dr Mohd Jaffer Akhoon, the Chief Executive Councillor, Ladakh Autonomous Hill Development Council Kargil, senior officials of the UT administration including chief secretary Shri Ashish Kundra, senior officials of the Sports Authority of India among others.

In keeping with PM Modi’s vision, Gupta said Ladakh was also taking rapid strides in sports development. “Ladakh has recently been endowed with its first-ever Sports Policy. This policy focuses on talent identification at the school level; creating an inclusive sports ecosystem for women and Divyang athletes; strengthening the Ladakh Sports Council; providing four per cent reservation in government jobs for outstanding sportspersons; assured scholarships; cash awards of up to ₹100 crore; development of international-standard sports infrastructure; expansion of centres of excellence; advanced training programmes; incentives for coaches; integration of sports with education; and promotion of sports tourism. This policy will inspire the youth of Ladakh and provide them with pathways to pursue sports professionally.”

Greater Kashmir

Carved wooden swing and Pashmina shawls

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Carved wooden swing and Pashmina shawls

New Delhi, Jan 20: Prime Minister Narendra Modi on Monday presented traditional Indian gifts to UAE President Sheikh Mohamed bin Zayed Al Nahyan as he welcomed the UAE leader and his family at his residence at Lok Kalyan Marg.

PM Modi gifted the President of UAE a royal carved wooden jhula (swing), a beautifully carved wooden swing from Gujarat that sits at the heart of many Gujarat family homes. It is hand-carved with detailed floral and traditional designs, showing skilled craftsmanship. In Gujarati culture, the jhula symbolises togetherness, conversation and bonding across generations. The gift also resonates deeply with the UAE’s declaration of 2026 as the ‘Year of Family’.

PM Modi also gifted the visiting leader a Pashmina shawl in an ornate silver box. The Pashmina shawl comes from Kashmir and is made by hand from very fine wool, making it soft, light and warm. The shawl is placed in a decorative silver box made in Telangana. Together, they represent India’s rich tradition of handloom and handicraft.

A Pashmina shawl in an ornate silver box was also gifted to Sheikha Fatima bint Mubarak Al Ketbi. She was also gifted Kashmiri Saffron in an ornate silver box. Grown in the Kashmir Valley, saffron is revered for its deep crimson strands and intense aroma.

Earlier, in a special gesture, Prime Minister Modi travelled to the Delhi airport and personally welcomed UAE President Sheikh Mohamed bin Zayed Al Nahyan as he began his third official visit to the country since assuming office.

Both leaders travelled together in the same car from the airport, showcasing their longstanding friendship and the multi-faceted partnership between the two countries. This is the UAE President’s fifth visit to India over the past decade.

“Went to the airport to welcome my brother, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE. His visit illustrates the importance he attaches to a strong India-UAE friendship. Looking forward to our discussions,” PM Modi posted on X.

Sheikh Mohamed bin Zayed Al Nahyan’s India visit builds on the strong momentum generated by recent high-level exchanges, including the visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi in September 2024, and the visit of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Defence of the UAE and Crown Prince of Dubai in April 2025.

“India and the UAE share warm, close, and multi-faceted relations, underpinned by strong political, cultural, and economic ties. The two countries are among each other’s top trading and investment partners, bolstered by the Comprehensive Economic Partnership Agreement (CEPA), the Local Currency Settlement (LCS) system, and the Bilateral Investment Treaty. India and the UAE also enjoy a robust energy partnership, including long-term energy supply arrangements,” read a statement issued by the Ministry of External Affairs (MEA) ahead of the UAE President’s visit.

“The visit will provide an opportunity for the two leaders to chart new frontiers for the India–UAE Comprehensive Strategic Partnership. It will also enable an exchange of views on regional and global issues of mutual interest, where India and the UAE share a high degree of convergence,” it added.

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Human heart regrows muscle cells after heart attack: Study

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Human heart regrows muscle cells after heart attack: Study

New Delhi, Jan 20: In a world-first discovery, scientists in Australia have found that the human heart can regrow muscle cells after a heart attack, raising hopes for future regenerative treatments for heart failure.

The study, published in Circulation Research, revealed that while parts of the heart remain scarred after a heart attack, new muscle cells are also produced, a phenomenon previously seen only in mice and now demonstrated in humans for the first time, Xinhua news agency reported.

“Until now we’ve thought that, because heart cells die after a heart attack, those areas of the heart were irreparably damaged, leaving the heart less able to pump blood to the body’s organs,” said Robert Hume, research fellow at the University of Sydney and first author of the study.

“In time, we hope to develop therapies that can amplify the heart’s natural ability to produce new cells and regenerate the heart after an attack,” said Hume, also lead of translational research at Australia’s Baird Institute for Applied Heart and Lung Research.

Though increased mitosis (a process in which cells divide and reproduce) after a heart attack has been observed in the heart muscles of mice, this is the first time the phenomenon has been demonstrated in humans.

The team made the breakthrough using living heart tissue samples collected from patients undergoing bypass surgery at Australia’s Royal Prince Alfred Hospital.

“Ultimately, the goal is to use this discovery to make new heart cells that can reverse heart failure,” said Professor Sean Lal, the study’s senior author and heart failure cardiologist at the Royal Prince Alfred Hospital.

Cardiovascular disease remains the world’s leading cause of death, and heart attacks can eliminate a third of the cells in the human heart, researchers said, adding that the discovery offers promising groundwork for novel regenerative medicine.

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Police seize vehicle carrying illegal minerals in Pulwama, FIR registered

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Police seize vehicle carrying illegal minerals in Pulwama, FIR registered

Srinagar, Jan 20: In a constant crackdown against illegal mining, Jammu and Kashmir Police in Pulwama seized a vehicle (dumper bearing registration No. JK13K-1694) for unlawful transportation of minerals.

A police statement reads, during checking, the vehicle was intercepted and found carrying illegal minerals without valid authorization. Accordingly, a case vide FIR No. 10/2026 under relevant sections of law has been registered at Police Station Litter. The vehicle has been seized and investigation has been initiated.

J&K Police remain committed to taking strict action against illegal mining and transportation activities and urge the general public to cooperate by reporting such violations, the statement reads.

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Valley incomplete without Kashmiri Pandits, people awaiting their return: Mehbooba Mufti

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Valley incomplete without Kashmiri Pandits, people awaiting their return: Mehbooba Mufti

Jammu, Jan 20: Peoples Democratic Party president Mehbooba Mufti on Tuesday said Kashmir is incomplete without Kashmiri Pandits and people of the Valley are eagerly awaiting their return.

The former chief minister also suggested that reservation of two Assembly seats for Kashmiri Pandits would be preferable.

“Kashmiri Pandits must take their own decision. We are eagerly waiting for their return as the Valley is incomplete without them,” Mehbooba told reporters at PDP headquarters in Gandhi Nagar here.

She was responding to a question about Kashmiri Pandits, who completed 36 years in exile on January 19, holding protests in the last two days for their return and rehabilitation.

The PDP chief said she had recently met Lieutenant Governor Manoj Sinha and conveyed to him that instead of nominating two members of the community to the Assembly, those seats should be reserved for them.

“Let them come, contest elections. They will seek votes and Muslims will vote for them. That is how communities will come together,” she said.

Mehbooba questioned the benefit of nominating someone sitting somewhere in Mumbai or some other place to the Assembly, saying such a move does not truly represent or benefit the community.

“They are our brothers, and we want them to return with dignity and live together with us so that Kashmir becomes complete,” she added.

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DIG South Kashmir reviews security ahead of Republic Day

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DIG South Kashmir reviews security ahead of Republic Day

Srinagar, Jan 20: Ahead of Republic Day celebrations, the Deputy Inspector General (DIG) South Kashmir Range, Javid Iqbal Matoo on Tuesday chaired a comprehensive security and crime review meeting at DPO Anantnag to assess the prevailing security scenario and the overall law-and-order situation in the district.

During the meeting, detailed deliberations were held on security preparedness, crime trends, anti-militancy operations, crime prevention, and public safety measures.

The DIG south Kashmir reviewed the performance of various police units and emphasized the need for enhanced coordination, intelligence-based policing, and timely action against criminal and anti-social elements.

The DIG south Kashmir stressed upon maintaining high standards of professionalism, strengthening community policing, and ensuring swift response to public grievances. He also directed officers to intensify preventive measures, improve visibility of police on the ground, and work with dedication to maintain peace and stability in the district.

The meeting was attended by SSP Anantnag Amritpal Singh, SP Headquarters Anantnag Kartik Shrotriya, SP Operations Anantnag Furqan Qadir, ASP North Aishmuqam Rameez Raja, along with all SDPOs and SHOs of District Anantnag.

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State police can probe corruption case under PC Act against central govt employees: SC

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State police can probe corruption case under PC Act against central govt employees: SC

New Delhi, Jan 20: The Supreme Court has ruled that state police authorities can investigate and file a chargesheet against central government employees when it comes to the offences of bribery and corruption under the Prevention of Corruption Act.

The court has also made it clear that no prior permission from the CBI is required before registering a case against a central government employee by the state police.

A bench of Justices J B Pardiwala and Satish Chandra Sharma said on Monday that offences under the PC Act can be investigated by a state agency or a central agency or any police agency, as can be seen from section 17 of the Act, with the qualification that the police officer shall be of a particular rank.

“Section 17 does not exclude or prevent the state police or a special agency of the state from registering a crime or investigating cases relating to bribery, corruption and misconduct against central government employees.

“It is for convenience and to avoid duplication of work that the Central Bureau of Investigation — a specialised investigating agency under the Special Police Establishment — is entrusted with the task of investigation of the cases of corruption and bribery against the employees of the central government and its undertakings and the Anti-Corruption Bureau — a specialised investigating agency of the state — is entrusted with the task of investigation of the cases of corruption and bribery against the employees of the state government and its undertakings,” the bench said.

The offences under the PC Act are also cognisable and can, therefore, be investigated by the state police, it added.

The apex court’s order came while upholding a Rajasthan High Court order that had refused to quash a corruption case against a central government employee.

The high court had ruled that the Rajasthan ACB had jurisdiction to register the criminal case under provisions of the PC Act, despite the fact that the accused was a central government employee.

“The high court has taken the correct view while saying that it is incorrect to say that it is only the CBI who could have instituted the prosecution,” the top court said.

Greater Kashmir

PDP’s sole agenda is restoration of peace in J&K through dialogue, development: Mehbooba Mufti

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PDP’s sole agenda is restoration of peace in J&K through dialogue, development: Mehbooba Mufti

Jammu, Jan 20: PDP president Mehbooba Mufti on Tuesday said her party’s sole agenda is the restoration of peace and prosperity in Jammu and Kashmir through dialogue and development and unity of its regions.

The former chief minister criticised the National Conference and the BJP for linking her proposal for granting divisional status to the Pir Panjal and the Chenab valley to the Dixon plan and said the demand was purely administrative and aimed at ensuring balanced development and better governance of “neglected” regions.

“The PDP has only one agenda: the restoration of peace in Jammu and Kashmir with dignity and respect. Dialogue should be held with each other as was demonstrated by (PDP founder) Mufti Mohammad Sayeed during the AB Vajpayee era, when dialogue was pursued within J-K and also with Pakistan.

“During that period, cross-border roads such as the Poonch–Rawalakote and Uri–Muzaffarabad routes were also opened. We want the Army to go back to the barracks after improvement in the situation, two power projects should either be returned to J-K or adequate compensation be provided. This is our agenda—we want J-K to prosper, remain united, and for the government to reach out to the people,” Mufti told reporters here.

On National Conference president Farooq Abdullah linking her proposal for granting divisional status to Pir Panjal (Rajouri and Poonch) and Chenab valley (Ramban, Doda and Kishtwar) with the Dixon plan, Mufti said she respects him and considers him the tallest leader in J-K, but “I think he had forgotten that his father Sheikh Mohammad Abdullah was arrested for the same formula.”

“It could be the agenda of the National Conference and its founder, for which he was dismissed and jailed. This can never be our party’s agenda,” she said.

The Dixon plan was a formula proposed in September 1950 by Sir Owen Dixon, a UN representative and former chief justice of Australia, aimed at resolving the Jammu and Kashmir dispute between India and Pakistan.

She said Pir Panjal is a backward area which is facing the major brunt of the hostilities between India and Pakistan on the borders, while Chenab valley is environmentally fragile and is facing frequent natural disasters and accidents.

“People should be empowered and democracy demands that the government reach the public. I have talked about the administration and not the Dixon plan. My father spent his whole life to keep the whole J-K united and that was the reason for his forming the government with the BJP to respect the people’s mandate,’’ she said.

Mehbooba also lashed out at the BJP for linking the proposal to some hidden agenda of Pakistan and the Dixon plan and said “they have already destroyed the erstwhile state of Maharaja by carving out Ladakh (in 2019) and also seeking separate statehood for Jammu”.

“We do not want to merge Pir Panjal and Chenab valley with Kashmir and instead want separate divisional status for the two regions for the benefit of the people. BJP started implementing the Dixon plan when they redrew the borders of south Kashmir’s Anantnag parliamentary constituency by including Poonch and Rajouri in it,” she said.

She also condemned the reported summoning of journalists to police stations in Srinagar and said, “I was expecting Abdullah to talk about this and also condemn it.”

Greater Kashmir

Lieutenant Governor inaugurates redeveloped Amira Kadal bridge in Srinagar

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Lieutenant Governor inaugurates redeveloped Amira Kadal bridge in Srinagar

Srinagar, Jan 20: Lieutenant Governor Shri Manoj Sinha on Tuesday inaugurated the redeveloped Amira Kadal bridge in Srinagar.

The project, costing Rs 7.70 crore under Srinagar Smart City limited was launched in December 2023, ensuring due diligence in heritage conservation, structural safety and quality control.

Dedicating the pedestrian wooden bridge to the people of Srinagar, the Lieutenant Governor said the historically significant project will preserve legacy while improving urban mobility and quality of life.

“Our prime objective is to lift the quality of life to a new level with modern technology and inclusive design.

We have made it a mission to protect the soul of every city while upgrading or renovating the infrastructure. By preserving historic lanes, bridges, traditional markets, lively squares and peaceful green spaces, we have made efforts to weave amenities into the cultural heartbeat of each city,” the Lieutenant Governor said.

The Lieutenant Governor emphasised that the renovation and upgradation of a city’s infrastructure should become a bridge, beautifully linking heritage with the needs of today.

This approach is already visible in the several cities of J&K. Jhelum Riverfront, Lal Chowk, MA road redevelopment, Redevelopment of Polo view High Street, Traditional Souq Market and craft centre Batmaloo, Development of lake front including walkways on Northern Foreshore road from Nishat to Naseem Bagh Habak, Improvement of Ghats along Jhelum, Improvement of Facade of Heritage Markets of Shehr-e-Khaas, Srinagar, Improvement of road from Dogra Chowk to KC chowk, Apsara road High Street, Street development Canal road Talab Tillo, Street development of heritage site Mubarak Mandi to Raghunath Bazaar, approach to Bahu Fort Temple, Ranbir canal Blue-Green Walkway projects, Tawi River front now pulse with fresh appeal, drawing not just tourists enchanted by their timeless charm, but also giving boost to businesses and the local economy is gaining real strength and momentum.

The Lieutenant Governor stated that by breathing new life into our cities through preservation of cultural heritage, we are honoring the roots. He said that this commitment is about more than upgradation of infrastructure; it is about building a brighter, more resilient tomorrow for young generation.

“A true smart city is never just about new infrastructure. It is about sparking an entirely new way of quality living, which is vibrant, efficient and inclusive,” the Lieutenant Governor said.

Interacting with local shopkeepers and traders, the Lieutenant Governor said that the opening of the pedestrian bridge will improve accessibility, boost commercial activity, and provide a pleasant experience for tourists.

Shri Ahsan Pardesi, Member of Legislative Assembly from Lal Chowk; Shri Anshul Garg, Divisional Commissioner Kashmir; Shri VK Birdi, IGP Kashmir; Shri Akshay Labroo, Deputy Commissioner Srinagar, Shri Faz Lul Haseeb, CEO, Srinagar Smart City Limited (SSCL), senior officials, members of trade associations and prominent citizens attended the inaugural ceremony.

Greater Kashmir

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