All the centres of the JKB Financial Services Limited shall remain closed on Saturdays across India on account of introduction of the five day week. | Revision of Brokerage [Applicable from 03-10-2013]

JKB
Financial Services Limited

VISION

"To emerge as the fastest growing financial services company and to provide customer friendly and world class information technology based services in the state of Jammu and Kashmir in particular and rest of country in general."

MISSION

“To achieve the corporate objectives while relying on the principle of fair dealing and assiduousness.”

BACKGROUND OF JKBFSL

The Jammu & Kashmir Bank Ltd, State’s premier financial institution is functioning as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country. While operating under various segments, a decision was taken by the bank to establish a separate Company for conducting stock broking and other para banking activities. Consequently, a wholly owned subsidiary JKB Financial services Ltd. was set up in the year2008 with a paid up capital of Rs.5.00 Crores.
Though at first RBI granted it permission to carry on stock broking activity only but later in principal approval was accorded to undertake depository services, distribution of insurance (both life and non life), distribution of mutual funds, collection of utility bills and distribution of credit cards in addition to stock broking activities.
With this expanded role, JKB Financial services will enable people to deploy their savings/ideal funds with ample options for investment with attractive returns in capital market and the financial products. The company shall not only provide the latest and comprehensive financial services to the people of J & K but also foresee good prospects of employment opportunities for the educated unemployed youth of the state in a specialized and professional era.
JKBFSL is expected to launch operations in the current year and start the Stock Broking, Depository Services, Mutual Fund and Insurance Distribution for life and non life products..The company has started its operations w.e.f 01.08.2011 as an Authorised person of HSBC Direct Investment and hopes to start as a full fledged Stock Broking Agent of NSE/BSE very soon for which necessary approvals from SEBI has been obtained.

Membership of NSE and BSE

For Stock Broking business SEBI has registered the Company as a member of both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in the following segments:

i. Stock Broker Registration Number

SEBI Registration No.
NSE-INB 231441131
BSE-INB 011441137

ii. Trading member in Capital Market (Cash) Segment and in Future & Option (F&O) Segment.

SEBI Registration No. (F/O)
NSE-INF 231441131
BSE-INF 011441137

iii. Self Clearing Member.
SEBI Registration No. (F/O)
NSE-INF 231441131
BSE-INF 011441137

Depository Participation ;

For the depository functioning the company has got registration as Depository Participant of both depositories viz.;
a) NSDl  : IN-DP-NSDL-351-2012
b) CDSL : IN-DP-CDSL-650-2012

AMFI Registration
For Mutual Fund distribution the Company has been registered with AMFI (Association of Mutual Funds in India) as Mutual fund Advisory/Distributor.

AMFI-REGISTRATION No. ARN-82988

IRDA Approval for Insurance Distribution
For distribution of Insurance (both life and non life), application made by the Company to IRDA for granting licence to act as a Corporate Agent for Insurance Business is pending with the said Regulator and approval is expected in due course.


  

OBJECTIVES

  • To carry on the business of Stock broking in India & elsewhere and to act as Broker, Agent, Dealer for Securities of all kinds and nature.
  • To provide Securities Depository Services being the participant of NSDL & CDSL.
  • To provide marketing and distribution services for Financial products including Mutual Funds, ETFs, Collective investment Schemes, Venture Capital Funds etc.
  • To Sponsor , Promote, Solicit, Establish and Procure Insurance Business as Insurance Corporate Agent.

VISION

"To emerge as the fastest growing financial services company and to provide customer friendly and world class information technology based services in the state of Jammu and Kashmir in particular and rest of country in general."

MISSION

“To achieve the corporate objectives while relying on the principle of fair dealing and assiduousness.”