Excelsior Correspondent
JAMMU, June 11: Describing the initiation of probe by the ACB into malfunctioning of J&K Bank besides en-masse backdoor appointments, corruption, nepotism and favouritism as welcome step, Harsh Dev Singh, JKNPP chairman and former Minister said PDP-BJP leaders used J&K Bank for personal gains.
“It was due to the relentless protests of the Panthers Party that the State Government was forced to take action in view of the series of controversies bringing disrepute to the State’s biggest financial institution. We have been protesting on roads against the J&K Bank for its lack of transparency, rising Non-Performing Assets (NPAs), financial irregularities and unfair recruitment process”, Harsh said while addressing a press conference, here today.
Lambasting JK Bank for its utter lack of transparency and accountability, Harsh Dev Singh said that in November last year NPP had approached the Regional Office of the JK Bank with an RTI application but the information was refused to them. He revealed that through the RTI, he had sought the details of appointments made by the J&K Bank during the last four years without issuance of advertisement notifications, the details of willful defaulters, NPAs, Bad debts, over-valued mortgages, unverified investors etc.
“Cat was out of the bag when the media reported that NPAs of the bank rose to all time high during the tenure of ex-Chairman with allegations of biased recruitment process of POs,” he said and regretted that while Post-graduates, M Phils and PhDs holders languished on roads, the matriculates and equivalents were appointed as managers and Probationary officers in J&K Bank by giving a dawn to all rules and regulations.
He said that it was most shocking to note the relatives of PDP and BJP leaders being appointed on top positions through backdoor in the Bank despite lack of requisite qualification by disregarding the claims and credentials of highly qualified, meritorious candidates. Singh hoped that the probe in functioning of J&K Bank would be taken to its logical conclusion.
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