CURRENT AFFAIRS

Detailed explanation-1: -The J&K government’s equity stake will rise to 74.24 per cent in the bank after the allotment. The issue follows a recent decision of the J&K government to transfer 8.23 per cent stake in the bank to the Union Territory of Ladakh.

Detailed explanation-2: -Jammu and Kashmir, union territory of India (until October 31, 2019, a state), located in the northern part of the Indian subcontinent centred on the plains around Jammu to the south and the Vale of Kashmir to the north.

Detailed explanation-3: -With tier-II capital augmentation of over Rs 1000 Cr, the bank’s Capital Adequacy Ratio rose up to 13.82% as against 12.38% recorded as on December 31, 2021.

Detailed explanation-4: -The union territory of Jammu & Kashmir has 64.5 per cent stake in J&K Bank while UT of Ladakh has about 4.5% stake. Jammu & Kashmir Bank, where promoters are the Union Territories of J&K and Ladakh, may have to bring down their shareholding once the Reserve Bank of India (RBI) prescribes a promoter stake dilution plan.

Detailed explanation-5: -The correct option is It acts like a banker’s bank. The Reserve Bank of India, known as RBI, is India’s central bank and regulatory body responsible for the regulation of the Indian banking system. It is under the ownership of the Ministry of Finance, Government of India.