The banking and finance sector in the state of Jammu and Kashmir organize for the loans for the small as well as large scale investors in the different industrial sectors of the state. The basic aim of the finance department of the government of Jammu and Kashmir is to access and create resources for the economic growth of the state.

In order to take care of the development here this government department has taken the responsibility of infusing financial discipline among the public functionaries. They implement various policies and reform schemes for the fiscal development and stabilize the economic structure of the state of Jammu and Kashmir.

There is the Jammu and Kashmir Bank to provide banking services to the people of the state. There are branches of this bank in other states as well to facilitate the customers. This bank offers loans at a very reasonable rate of interest that can help in the development of the industrial sector here.

Apart from the J&K Bank there are also other banks that provide financial assistance to the people of the state. Financial services in the rural sectors of Jammu and Kashmir are provided by the various rural banks. Jammu Rural Bank is one of them. This bank provides the small industries and the farmers of Jammu and Kashmir with the necessary monetary help. Ellaquai Dehati Bank and the Kamraz Rural Bank are two other such banks that are working for the development of banking and finance in Jammu and Kashmir.

With the proper utilization of the measures that are being taken by the banking and financial sector in the economic condition are expected to develop fast.

Last Updated on 8/29/2011

Economy