Thanks for that. We will move this to the emerging companies section. Since I was in J&K for about 5 years in connection with our family business (which later went bust because of political/security concerns) I know the psyche up that goes with JK Bank there.
1) The average Joe on the street does not care/like about SBI/PNB etc. He thinks that JK Bank is God for him.
2) Kashmir with its fruit/horticulture and tourism industry is one of the most profitable banking areas. Havinga branch in Srinagar is as good as having one in kolkata. YOu get truckloads of current accounts and fixed deposits.
3) The Govt. of India will only speed up spending in JK so all that money is banked through JK Bank.
4) Lending because of high quality business - fruit orchards, horticulture etc is profitable.
5) the average Govt. servant banks through JK bank because money is transferred on the same day. It is quite unlike other places where people bank with HDFC bank and ICICI. These names are foreign there.
JK bank in that state is a place where the average person feels safe and secure.
Edited by basant - 23/Sep/2007 at 7:22pm