Infomerics Ratings and Jammu and Kashmir Bank renewed their Memorandum of Understanding on September 11, 2023

The MoU between Infomerics Ratings and J & K Bank, which was initially signed in January 2019, was further renewed for a period of five years on September 11, 2023. In terms of this MoU, Infomerics Ratings would provide comprehensive rating services to the clients of J & K Bank for both these important players of the financial system in India.

The signing of this MoU between Infomerics Ratings and J & K Bank marks an important development for both the state of J & K in general and both the parties to the MoU in particular. This would lead to an increased awareness and heightened consciousness of the entire rating exercise, due diligence, and swifter turnaround time (TAT) and would thus be a win-win proposition for both these important constituents of the financial system.

Top officials of Infomerics Ratings, viz., Suraj Malik, Whole Time Director, Shri BK Bajaj, CEO and Dr. Manoranjan Sharma, Chief Economist called on Shri Baldev Prakash, MD & CEO of the Bank and other top functionaries, viz., Shri Ashutosh Sarin, General Manager and Dr. Altaf Hussain Kira, Chief Risk Officer. This collaborative and cooperative venture would help both these institutions to work as partners in development.

Shares of The Jammu & Kashmir Bank Limited was last trading in BSE at Rs. 96.17 as compared to the previous close of Rs. 103.00. The total number of shares traded during the day was 1408053 in over 10768 trades.

The stock hit an intraday high of Rs. 103.80 and intraday low of 94.00. The net turnover during the day was Rs. 138618670.00.

Source : Equity Bulls

Keywords

TheJammuandKashmirBank INE168A01041 InfomericsRatings MoU Renewal