Excelsior Correspondent
SRINAGAR, Nov 28: While demanding revocation of SAC decision on J&K Bank, Chairman PDF Hakeem Yaseen has said it was an onslaught on the financial autonomy of the state.
He said that the decision was 2nd in a row after imposition of GST by the previous PDP-BJP Govt to undermine state’s financial autonomy.
In a statement issued today, Hakeem Yaseen has said the SAC decision to reduce J&K Bank into a PSU would open doors for undue political and bureaucratic interference into the functioning of the Bank which can adversely affect its performance. He said J&K Bank which has been rendering a significant role in the economic and social development of the State since 1938 as compared to other 50 banks and financial institutions working in the state .
“The credit share of the Bank stands at 65 percent as compared to the credit of 35 percent by all other banks,” Yaseen said demanding that there should be no interference with the Banks autonomous character.
He said though bringing the Bank under RTI will help to bring more transparency in its working, its autonomous character needed to be preserved at all costs.
Trending Now
E-Paper
Follow our WhatsApp channel