PUC examines CAGs audit paras pertaining to JK Bank

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By Fast Kashmir on 22/08/2017.

PUC examines CAGs audit paras pertaining to JK Bank

Srinagar, August 22: A meeting of the Committee on Public Undertakings (PUC) of Jammu and Kashmir Legislative Assembly was held here today under the Chairmanship of MLA, Sat Paul Sharma to discuss the Audit Paras of Jammu and Kashmir Bank Limited.

The Committee examined the CAGs Audit Paras report pertaining to the Finance Department (Jammu and Kashmir Bank Limited) regarding doubtful recovery of loans, lack of due diligence in verification of genuineness of security before release of loans and credit facilities resulted in recovery of Rs 3.22 crore being rendered doubtful.

Legislators, Mohammad Khalil Bandh, Abdul Majid Larmi, Rajesh Gupta, Rajeev Sharma, Raja Manzoor Ahmed and Vikram Randhawa attended the meeting and gave their suggestions regarding the functioning of Jammu and Kashmir Bank.

The Chairman, Jammu and Kashmir Bank, Parvez Ahmed briefed the Committee about the action taken by the JK Bank on the observations made by the CAG in his report pertaining to the JK Bank. He also assured to take all steps to early settle the audit paras pertaining to the JK Bank.

He assured the Committee that the Bank authorities took consideration seriously on the observations of CAG and the issues raised by the members regarding the functioning of the JK Bank besides Audit paras.

The Committee directed the Chairman Jammu and Kashmir Bank to provide full details in the next meeting along with pending reply of Audit paras belonging to the JK Bank and furnish the same to the members of the Committee well before the next meeting.

Among others, Executive President JK Bank, Vagish Chander, President JK Bank, PK Tickoo, Additional Secretary Finance Department, Mohammad Shahid Saleem, Deputy Secretary, Legislative Assembly Ghulam Mohi-ud-Din Bhat besides senior officers of concerned departments and Assembly Secretariat were also present on the occasion.(GNS).