J&K Bank to Recruit 1,400 Locals Soon; All Posts Reserved for J&K and Ladakh Domiciles, Says CEO Amitava Chatterjee

Srinagar, Sep 1: The Jammu and Kashmir Bank is set to begin its biggest recruitment exercise in years, with the board approving around 1400 posts for advertisement in the coming weeks.

The hiring will remain locally focused, with all the positions open only to domiciles of J&K and around 40 posts to be filled by residents of the Union Territory of Ladakh, Managing Director and CEO Amitava Chatterjee said.

While Chatterjee acknowledged that the concerns raised regarding the bank reflect the deep connect that the people of J&K have with this institution and these sentiments need to be respected, he, at the same time, stressed that the bank’s strategic initiatives need to be viewed from a perspective of long-term growth and sustainability.

Addressing questions over the bank’s lending pattern, particularly the sharp difference between credit growth in J&K and its operations outside J&K, with advances in J&K growing by around 9 percent against around 30 percent growth in rest of the country during FY 2025-26, indicating that J&K Bank in increasingly directing its incremental lending towards markets outside its traditional operating area, Chatterjee rejected this interpretation and reiterated that expansion outside J&K does not in any way mean dilution of the bank’s commitment to its home territories of  J&K and Ladakh.

He said that the credit growth percentages across geographies should not be viewed in isolation but rather need to be viewed alongside the size of the respective loan books.

At the beginning of FY 2025-26, more than two-thirds of the bank’s loan book came from J&K and Ladakh.

Despite the disruption in economic activity caused by the Pahalgam attack in 2025, the bank posted a reasonable credit growth of more than 9 percent in J&K and Ladakh during the financial year.

While the bank operates in 22 states and Union Territories across the country, more than 60 percent of the bank’s lending is concentrated in the two Union Territories of J&K and Ladakh.

“As a bank, our lending is driven by the availability of profitable opportunities. Our objective is to pursue quality credit growth wherever viable opportunities exist. However, I would like to assure our customers as well as other well-wishers of the bank in J&K and Ladakh that any growth opportunities that the bank pursues in the rest of the country will not come at the cost of our home regions of J&K and Ladakh. Our core business is in J&K, and we will continue to be a J&K-centric bank,” he said.

With respect to the concerns raised about taking away opportunities from the youth of J&K by opening up the bank’s recruitment to non-locals, he said that he had some good news for the youth of J&K and Ladakh as the bank was set to initiate its first recruitment drive in almost 5 years with plans to recruit around 1400 people.

“All the posts to be advertised shall be open only to local candidates, only domiciles of J&K, and around 40 posts for Ladakh residents,” he said.

Speaking about plans to recruit non-locals, he said that there were no plans to alter the bank’s core recruitment model or replace its existing workforce.

However, to overcome linguistic and cultural barriers, the bank has been recruiting non-locals for some of its branches in rest of the country right from its inception till 2019. On similar lines, the bank may opt for limited and strictly need-based recruitment in the future for its branches in rest of the country to supplement and support the existing staff in penetrating those markets, he said.

The bank’s approach to stressed assets and settlement of outstanding loans was another key issue discussed in the interaction. Business chambers, associations and borrowers have been seeking a more expansive One-Time Settlement mechanism, including a 2020 SBI-style framework that could cover larger accounts in the Rs 20 lakh to Rs 50 crore range.

Chatterjee said J&K Bank has prepared an OTS framework, but indicated that there were limits on the concessions the bank could offer.

Chatterjee pointed to the financial implications of an OTS for the lender.

“At the end of the day, when we give an OTS, we are giving up money. Ultimately, these are funds belonging to our depositors, and we are merely its custodians and we have a responsibility to protect their interests as well,” he said.

On the composition of the J&K Bank board, Chatterjee said he would favour the inclusion of a representative from Kashmir, amid concerns over the absence of such representation.

“I would definitely want a Kashmiri representative on the board, as he or she would have an ear to the ground on the realities here,” he said.

Chatterjee said that such an appointment was ultimately the prerogative of the J&K government, by virtue of being the majority shareholder.

He also put to rest speculation about a possible relocation of the bank’s headquarters from Srinagar.

“There is no proposal to shift the headquarters of J&K Bank from Srinagar. Why would we do this now when the Bank has not shifted its base even during turbulent times? J&K Bank's headquarters has been in Srinagar for over 8 decades now, since its inception, and it will continue to remain here,” Chatterjee said.

“The bank’s dual objectives of continuing to enhance and deepen its banking business and relationship in J&K and Ladakh while expanding in the rest of the country should be seen as complementary objectives and not competing ones. A stronger J&K Bank will ultimately be able to better support and serve the economies as well as the people of J&K and Ladakh,” he said.