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New Delhi, Dec 6 (UNI) Jammu&Kashmir Bank Ltd has received approval from the Reserve Bank of India (RBI) for increasing the FII's holding in the bank from 33 per cent to 40 per cent of its paid up share capital.

The RBI has said that these purchases can be made through the primary/secondary markets in India under the portfolio investment scheme (PIS).

The Jammu&Kashmir bank was incorporated on October 1, 1938.

The operations of the bank are concentrated in the state of Jammu&Kashmir. However of late, the bank has been increasing its operations outside the state.

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