Excelsior Correspondent
JAMMU, Aug 19: Expressing grave concern over the shady dealings in J&K Bank, senior PDP leader and former Finance Minister, Tariq Hameed Karra has demanded a white paper on the operations of the State’s premier financial institution.
“The worrying reports appearing in a section of the press over the past few days regarding the messy state of financial affairs in the J&K Bank have set the alarm bells ringing and the people have the right to know what is going on inside the Bank,” Karra said in a statement issued here today.
“The most disturbing fact that has come to fore in latest newspaper reports is how blatantly J&K Bank is gifting the hard-earned money of the people of the State to the influential business houses outside at throw-away interest rates while the hapless borrowers here are being charged cumbrous interest rates on advances,” Karra said.
He said it is to be seen that despite having more advances outside the State, how the Bank is earning less profits from there and more from within the State.
“The people have the right to know what is the status of various huge advances made by J&K Bank outside the State including around Rs 100 crore loan given by the Bank to Vijay Mallya’s bankrupt Kingfisher Group, JP Industries, Alok Industries and scores of other such groups from outside the State,” he said.
“It is the responsibility of the Government and the Bank authorities to come clean with a White Paper on the issue, sooner the better,” he said.
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