The incident took place at around 11 am today. Vijay Kumar was performing his duty when the terrorist shot him. He was rushed to a hospital but succumbed.
The police said the incident took place in Kulgam's Areh Mohanpora area. The victim was an employee of the Ellaquai Dehati Bank.
Kumar belonged to Rajasthan's Hanumangarh.
"The killing of bank manager Vijay Kumar, a resident of Hanumangarh, Rajasthan, working in Kulgam, J&K is highly condemnable. The NDA government has failed to restore peace in Kashmir. The Central government should ensure the safety of citizens in Kashmir," Rajasthan CM Ashok Gehlot tweeted.
Several civilians have been killed by terrorists in the Union territory over the last few weeks.
Last week, 36-year-old Rajni Bala, a Kashmiri Pandit teacher, was shot dead in the Gopalpora area of Kulgam.
TV actor Amreen Bhat was shot dead by unidentified terrorists in Budgam's Chadoora area on May 25. Before that, Rahul Bhatt, an employee of the Tehsil office, was shot dead by terrorists.