Sir,
Recently, the Governor’s Administration has brought a series of reforms in J&K Bank Ltd and instead of appreciating these progressive pro-people decision some parties and individual groups from the Kashmir valley are protesting against these reforms. It is pertinent to mention that J&K Bank is not a personal property of anybody but a public institution established for the welfare of common man. If a common man is unable to get justice or if the functioning of the Bank is kept confidential, it will go against the idea of its establishment in a democratic set up. Therefore, the public has a right to ask that whose interest the Bank is serving. If the things are so transparent, the Bank should come clear on NPA, defaulter list, loan waiver and re-structuring of loans including the donations given by the Bank if any. It should also show the grant-in-aid received from the Government from time to time.
Common man is paying interest regularly on PCL and other loans and the faith and sentiments of lakhs of investors are associated with the Bank. If may also be noted that the Public Sector Undertakings are always successful if they are allowed to functing independently by their own staff. The repeated interference of Governments and shifting of the Administrative staff or change of guard have damaged the concept and functioning of PSUs. If others can be under PSU status why should a bank be left out in a disturbed and security sensitive state like Jammu and Kashmir. Moreover, the progressive decisions are acceptable to the majority area population of State.
Rajinder Anthal
Trikuta Nagar
Jammu
Follow our WhatsApp channel