Reserve Bank of India in the UT of Jammu and Kashmir started functioning in October 1962 when the Regional Office of the erstwhile Agricultural Credit Department (ACD) initially operated from a leased building at Srinagar. The office used to move along with Durbar Move of the State Government till November 1973 after which, the ACD was permanently stationed at Jammu.

The office has since then expanded and included many other departments viz. Issue Department, Department of Supervision, Financial Inclusion and Development Department, Foreign Exchange Department, Department of Economic and Policy Research, Consumer Education and Protection Cell, Office of Ombudsman, Department of Information and Technology, Department of Statistics and Information Management etc. Few divisions of Financial Inclusion and Development Department and Foreign Exchange Department operates from Srinagar Sub Office which is under the administrative control of Jammu Regional Office. The present staff strength of this Office (including Srinagar Sub-office) in all categories is 241.

Consequent upon the Reorganisation of the State of Jammu and Kashmir into the Union Territory of Jammu and Kashmir and Union Territory of Ladakh since August 2019, the jurisdiction of this office has been reorganized to include Union Territory of Jammu and Kashmir and Union Territory of Ladakh. Presently, the Jammu Regional Office regulates the banking and financial activities spread across both the Union Territories. The Office supervises Commercial banks, Co-operative banks, Non-Banking Financial Companies, UT Government business and currency management of the Union territories of Jammu and Kashmir and Ladakh.

The economy of Jammu and Kashmir is predominantly dependent on agriculture and tourism. The Kashmir valley is also known for its sericulture and cold-water fisheries. Wood from Kashmir is used to make high-quality cricket bats, popularly known as Kashmiri Willow. Kashmiri saffron is also very famous and brings the UT a handsome amount of foreign exchange. Agricultural exports from Jammu and Kashmir include apples, cherries, oranges, rice, peaches, pears, saffron, walnuts, almonds, and wheat. The manufactured exports include handicrafts, rugs, and shawls. The pilgrimage to the holy shrine of Mata Vaishno Devi contributes hundreds of crores to the local economy annually. Gulmarg, one of the most popular ski resort destinations in India, is also home to the world's highest green golf course.

The economy of Ladakh is predominantly dependent on tourism which has been widely accepted as an important industry in view of its potential for creation of employment opportunities in related sectors like transport, hotels and catering service, cottage industry etc. and generates income on a large scale for the local population. Ladakh is also known for its numerous monasteries, highest motorable passes around the globe- Umling-La, Khardung-La and Chang-La, serene lakes of Pangong Tso and Tso Moriri and Nubra Valley.

Head of the Office
Shri Kamal P. Patnaik, Regional Director

Address Telephone Fax Email ID
Reserve Bank of India
Rail Head Complex
Jammu – 180012
0191-2470061 0191-2470576 e-mail

Working and Banking Hours

Working Hours Weekdays 09:45 a.m. to 05:30 p.m.
Saturdays (except second and fourth Saturday) 09:45 a.m. to 05:30 p.m.
Banking Hours Weekdays 10:00 a.m. to 02:30 p.m.