Srinagar, March 31 -- J&K Bank today received Rs 500 Cr capital infusion from the government of Jammu and Kashmir to meet the Basel-III requirements. The government had already set aside the amount meant for equity infusion or recapitalization of the bank, said a statement from the bank.

Expressing his gratitude towards the government, particularly the Lieutenant Governor Girish Chandra Murmu, for timely infusion of the capital, the bank's Chairman and Managing Director (CMD) Rajesh Kumar Chhibber said that besides improving the bank's capital adequacy under the Basel-III norms, the capital infusion will substantially improve its risk bearing capacity. He added that the much needed infusion shall also help the bank in revising its lendin...