A strong spike in banking activity was recorded across Jammu and Kashmir during Eid celebrations, driven largely by increased use of digital payment platforms. Thousands of people chose cashless mode for their festive shopping on Friday. Trends during the Eid rush clearly show a strong shift towards digital payments in the region.
Official figures from Jammu and Kashmir Bank show non-branch banking transactions worth Rs 8,393.88 crore between March 16 and 19, across 5.94 crore transactions, highlighting strong economic momentum ahead of Eid.
This activity is expected to rise further, with the last day of the holy month of Ramadan approaching. Growing digital use and preference for faster payment methods are likely to drive this increase.
The data shows that UPI has been the most used payment mode. It recorded 4,00,48,711 transactions worth Rs 3,125 crore during the four-day period. Mobile-based mPay services also saw high usage. They recorded 1,70,58,715 transactions amounting to Rs 2,991.70 crore. The numbers are expected to rise further with peak festive shopping.
Despite the digital growth, ATM withdrawals continued alongside. There were 15,50,168 transactions worth Rs 658.57 crore, showing that cash is still widely used during busy spending periods.
High-value transactions through e-banking channels also remained strong. Transactions worth Rs 1,466 crore were recorded, though the numbers of such transactions were at 83,641.
Kiosk banking also played an important role, especially in underserved areas. It facilitated 65,952 transactions worth Rs 152.61 crore during this period. It is worth noting that Jammu and Kashmir has seen steady growth in digital banking in recent years. While several banks operate in the region, Jammu and Kashmir Bank remains the largest and most widely used, with a strong presence in both urban and rural areas.
Also read: 15,000 devotees visit Mata Vaishno Devi as Navratri begins
Follow us
