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India Front Line Report
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2014-01-17 ArtNo.44758
◆Jammu & Kashmir turns paradise for new-age private banks
【Kolkata】If you were in Jammu & Kashmir (J&K) a decade ago, you might have had to walk miles before you saw a branch of a new-age private sector bank. But today, you will locate one easily - not only in the bylanes of Srinagar but even in the under-banked regions and rocky terrains of Doda, Poonch and Kargil.
 It might be one of the less-developed states but J&K is emerging as the new business destination for new-generation private banks. In 2013 calendar year, ICICI Bank, the country's largest private-sector lender, more than doubled the number of its branches in the state to 25. HDFC Bank has 64 branches, the most in the state among India's new-age private banks. Of these, 45 have been opened over the past five quarters and almost 60 per cent are in semi-urban and rural areas. Since April 2013, Axis Bank's branch count in the state has increased from six to 26. Of these, 14 were opened in un-banked regions.

【News source】

Jammu & Kashmir turns paradise for new-age private banks

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