Excelsior Correspondent
SRINAGAR, Nov 26: Jammu and Kashmir Bank Officers Forum has opposed the recent decision of State Administrative Council to grant PSU status to J&K Bank.
An emergent executive meeting of the Forum was held here today under the chairmanship of Forum Chairman. Javed Ahmed Bhat for discussing the State Administrative Council decision with regard to the J&K Bank and unanimously passed a resolution to express its viewpoint on the matter.
Observing that the J&K Bank was already under the ambit of CAG of India, RBI, SEBI and ROC, as applicable to other public sector banks in India, the Forum said that it was concerned about granting of PSU status to the Bank. “It feels that same is being done with ulterior motives to have a direct control over day to day affairs of the bank so as to reap the electoral benefits by vested political interests,” the Forum opined and reiterated its assertion that J&K Bank is a State owned banking company having pervasive control of State Govt of J&K through its appointed board of directors and no change in status of the bank is needed for its efficient working.
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