Jammu Kashmir Nears Full Digital Banking Transition with 99.80 Per Cent Coverage


   

SRINAGAR: A document reveals that Jammu and Kashmir has achieved 99.80 per cent digital coverage of eligible savings and business accounts. It states that as many as 1.28 crore accounts have been successfully onboarded on digital platforms across all 20 districts of the Union Territory.

“As of January 31, 2025, only 25,472 accounts remain to be digitally enabled, while more than 99 percent of eligible savings and business accounts have been successfully onboarded,” the document states.

It also reveals that J&K Bank and State Bank of India (SBI) have achieved 100 per cent digital coverage in both savings and business accounts. “Punjab National Bank (PNB) stands at 99.49 per cent in savings accounts and 100 per cent in business accounts, while HDFC Bank has achieved 99.93 per cent in savings and 99.78 per cent in business accounts. ICICI Bank has 100 per cent in savings and 99.70 per cent in business accounts, while Canara Bank stands at 98.25 per cent for savings and 99.84 per cent for business accounts,” the document states, adding, “J&K Bank has shown remarkable progress in digital transactions. During the financial year 2024-25 (up to December 2024), the bank processed 138.90 crore transactions, out of which 99.80 per cent were digital, with 70 per cent being through UPI platforms.”

“In the financial year 2022-23, J&K Bank processed 82.83 crore transactions, with 86 per cent being digital and 47 per cent through UPI. In 2023-24, the bank handled 126.15 crore transactions, with 90 per cent being digital and 55 per cent via UPI.

The upward trend continued in 2024-25, with 94 per cent of transactions being digital and 70 per cent through UPI platforms,” the document reads. (KNO)

 



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