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J&k bank Practical Training Report

J&k bank Practical Training Report

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Published by Aquib
Created By A.R Pandit
Created By A.R Pandit

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Published by: Aquib on Oct 11, 2010
Copyright:Attribution Non-commercial


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History of J&K Bank
Almost seventy years ago, the then Maharaja of the State of Jammu & Kashmir,Maharaja Hari Singh started thinking about setting up of State Bank of J&K with the solepurpose of overall development of his subjects.After prolonged deliberations and discussions, the assignment for establishment of “TheJammu & Kashmir Bank Limited” was given to the late Sir Sorabji N Pochkhanwala, thethen Managing Director of the Central Bank of India. Mr. Pochkhanwala formulated ascheme on 24.09.1930, suggesting establishment of a bank with participation in capitalby State and the public but under the control of State Government. Thus, was born theJ&K Bank, which commenced its business from 4th July 1939 from its Registered Office,Residency Road, Srinagar, Kashmir.It was in the year 1971 that Jammu and Kashmir Bank was granted the status of a'Scheduled Bank'. Five years later, it was declared as "A" Class Bank, by the ReserveBank of India (RBI). As the years passed on, the bank started achieving more and moresuccess. Today, it boasts of more than 560 branches across the country.Now listing some of the historical developments :-
Formulation of Board of Directors (1938)
BOD’s on Oct 1st 1938 resolved and adopted the Article of Association
Incorporated in 1938 as a limited company
First meeting of BOD’s- 7th Jan 1939
Commencement of business on July 4th 1939 -R Road,Srinagar 
First Manager: Mr. Sohan Lal Kothari
First Chairman:Major General Roy Bahadur Bishan Dass-Chief Minister 
First Safe Deposit vault at Residency Road –1940
Few more branches opened in the same year-Udhampur,Mirpur,Anantnag,Baramullah and Muzzaffarabad
Appointment of Staff on professional basis-1945
State Minister to be on the BOD’s-1946
Introduction of Inspection-1946
First outside branch –Amritsar 
Partition of India-1947 and its aftermath
Loss of two branches-Mirpur & Muzzarabad
Filling/Settling of Claims by the depositors
Bank at the verge of collapse
Assistance from the Government-Nearly 6 Lakhs-1949
Recovery of bad debts
Extension of Central Laws to the State of J & K
Bank defined as govt: company-Indian Companies Act 1956
Financial Year changed –Banking companies Act 1949
Real growth started from 1969-the era of Nationalization
Social Control on banks
First whole time Chairman –Mr.A.A.Fazili, Nov.1970-June 1974
Lending Policy changed/reoriented
Priority Sector advances
Total No of Branches-26 as on December 1970
1973-Permission granted to establish currency chest at R.Road,Sgr.
Total No of Branches-64 as on 1973
1976-Sponsored first Regional Rural Bank
Jammu Rural Bank
1976-Responsibility of payment of pension to Civil Pensioners of the State
1976-Bank declared as A Class bank
1979-Total No of Branches rose to 190
1980-Total No of Branches rose to 212
1981-Permission granted by RBI to deal in the Foreign Exchange business
1981-Sponsored another Regional Rural Bank
Kamraz Rural Bank
1980- Lead Bank responsibility
Convener of SLBC
1984-Customer Service Cell
1987-Introduction of MICR technology
1989-Historic period Golden Jubilee
Creation of J&K Bank Golden Jubilee Development and Social ServicesTrust
Organizing Credit camps
Turmoil in the State
1991-1992-Financial Sector Reforms
Initiatives of introducing New Technology
Maiden Public IssueThe arduous but illustrious journey that spans over almost seven decades has been areal story of commitment and enterprise. Today J&K Bank is one of the very few banksthat combine the best of public ownership; stability and safety with the best of privatefunctioning; growth and efficiency. Having an almost exclusive geographical area of operations and supported by a dedicated community, the bank enjoys an almostmonopolistic postion in the state and a sizeable presence in the rest of country.All these aspects accord unparalleled financial and non-financial advantages to the bankmaking it one of the best and most profitable old generation private sector banks.Being the flagship Institution of the state the bank aspires to lead by example bydelivering outstanding performance in growth and profitability, catalyse growth in thestate economy and create enabling conditions for the financial empowerment of thepeople of J&K.Accordingly the Vision of J&K Bank is to engender and catalyse the economictransformation of Jammu and Kashmir and capitalize from the growth induced financialprosperity.The bank’s overriding mission is to use its core competence to serve and empower thepeople in general and entrepreneurs in particular. The bank identifies empowerment asa process of enhancing the capacity of individuals or groups to make choices and totransform those choices into desired actions and outcomes. The bank is set todemonstrate that people with lesser means can be reached and reached profitably.J&K Bank is going from strength to strength as it witnesses tremendous revenue growthopportunities in all its businesses. In recognition of its excellent customer service, fair business practices, total operational efficiency, overall performance, etc. the bank hasbeen felicitated so many times during the last few years.
Centralized Systems
A modern, general-purpose computer system consists of one to a fewCPUs& anumber of device controllers that are connected through a common bus that providesaccess to shared memory. The CPUs have local cache memories that store local copiesof parts of the memory, to speed up access to data. Each device controller is in chargeof a specific type of device (for example, a disk drive, an audio device, or avideodisplay). The CPUs & the device controllers can execute concurrently, competing for memory access. Cache memory reduces the contention for memory access, since itreduces the number of times that the CPU needs to access shared memory.The main difference between centralized & distributeddatabasesis that the distributeddatabases are typically geographically separated, are separately administered, & haveslower interconnection. Also in distributed databases we differentiatebetween
transactions. A
local transaction
is one that accesses dataonly from sites where the transaction originated. A
global transaction
, on the other hand, is one that either accesses data in a site different from the one at which thetransaction was initiated, or accessed data in several different sites.

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