J&K Bank To Transfer 8.23% Stake To UT Of Ladakh

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JAMMU, Jan 20: J&K Bank has given approval to transfer 8.23 per cent stake to Union Territory of Ladakh.

“The board decided to give approval for implementation of General Administration Department, Govt. of Jammu and Kashmir, in terms of which ownership of 8.23 per cent out of its (J&K Govt) shareholding in Jammu and Kashmir Bank (4,58,29,445 Equity Shares) as on October 31, 2019, shall be transferred to UT of Ladakh,” the bank said in a regulatory filing.