J&K Bank defers board meet on proposed Rs 500 cr-capital infusion from govt

Jammu & Kashmir Bank (J&K Bank) has postponed its board meeting to discuss the proposal of Rs 500 crore capital infusion from the state government.

The meeting of the board of directors of the bank scheduled for Wednesday, May 12, 2021 to consider/discuss the proposal of capital infusion by the government of Jammu & Kashmir to the tune of Rs 500 crore in the bank stands postponed, the bank said in a regulatory filing.

The bank has not given the reason behind the postponement.

The new date for the said meeting shall be communicated separately, it added.

Stock of J&K Bank traded at Rs 26.10 apiece on BSE, up 2.76 per cent from previous close.