J&K Bank posts Rs 602 crore loss for Q2 FY17

Militants on Thursday robbed a bank in Pulwama district of south Kashmir, decamping with Rs 11 lakh, police said. "The bank robbery incidents in Kashmir are purely the fall out of demonetization plan", Special Director General of Police and Incharge Law and Order SP Vaid told news agency CNS.

He said they took away Rs 11 lakh from the branch before fleeing.

They decamped with almost Rs 10 lakh from the bank. The Bank, he said, has posted total business of Rs. 117438 crore with CASA ratio of 45% and healthy NIM of 3.37%.

Pertinently, those arrested by police in a bank robbery incident according to their families are innocent, the claim refuted by police. "In fact we have clues and have identified the men involved in such incidents", he said. "Two of them are Pakistani militants while two others are locals", Bhat said.

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Gunmen stormed a bank in Kashmir's Pulwama district on December 8 and made away with Rs 10 lakh.

Shares of JAMMU & KASHMIR BANK LTD. was last trading in BSE at Rs.60.8 as compared to the previous close of Rs. 61.25.

On October 25, gunmen looted Rs. 2.25 lakhs from J&K Bank's Kardar branch in southern Kulgam district.

SSP Pulwama Rayees Ahmad Bhat said the three robberies since the demonetisation were made by the same group of Lashkar terrorists.

  • Sonia Alvarado