Muzaffarnagar is a city as well as a municipal council in the Indian state of Uttar Pradesh. It is a part of the National Capital Region. It lies in the Doab region of Indo-Gangetic Plain. A Mughal Commander by the name of Sayyid Muzaffar Khan founded the city near the ancient town of Sarwat in 1633 during the reign of Shah Jahan. The native language of the city is Khari Boli, which is a prestigious dialect of Hindi. It resembles the Haryanvi dialect of Hindi. The economy of Muzaffarnagar depends upon the sugar and jaggery production. The farming activities in the area are focussed on jaggery and the city boasts of its huge jaggery trading business. There are eight sugar mills in the district of Muzaffarnagar. Apart from sugar and jaggery, Muzaffarnagar is also known for its production of steel and paper. The famous Shiv Chowk at the center of the city attracts many devotees of Lord Shiva during the Maha Shivratri ceremony every year. The city is known for its delectable cuisine, especially the chaats and sweets like "ghevar" are wildly craved for.
The J&K Bank is a private sector banking and financial services company based in Srinagar, Jammu, and Kashmir. J&K Bank established on October 1, 1938, was the first bank in the country to emerge as a state-owned bank. On 1 October 1938, the Jammu and Kashmir Bank was founded by Maharaja Hari Singh (the Maharaja of Jammu and Kashmir). The eminent investors were invited by the Maharaja to become the founding directors and shareholders of the bank. The most notable investors were Abdul Aziz Mantoo, Pesten jee, Pandit Sriniwas Magotra, and the Bhagat Family, all of whom acquired a significant holding in bank shares. On 4 July 1939, the bank commenced the operations, and it was declared as the first semi-state-owned bank of with participation in capital by State and the public under the control of State Government. The bank had achieved the status of a scheduled bank In the year 1971 and was recognized as an "A" Class bank by the Reserve Bank of India in 1976. The bank had to face severe difficulties during independence time as out of its ten branches two branches of Muzaffarabad, Rawalakot, and Mirpur fell to the other side of the line of control (now Pakistan administered Kashmir) along with cash and other assets. As per the regulations of Indian Companies Act 1956, the bank was declared as a government company following the extension of Central laws to the state of Jammu & Kashmir.