Strictly adhere to austerity measures: Govt tells Cooperative Banks

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By Fast Kashmir on 15/12/2017.

JAMMU, DEC 15: The Government today asked all the Banks operational under State Cooperative Sector to strictly adhere to the government instructions issued from time to time by the Finance Department regarding observance of austerity measures in their respective branches under different heads of account.

A circular has been issued here in this regard following a strong notice taken by the government regarding non-observance of austerity measures by the Banks functioning under J&K Cooperative sector.

The circular reads that it has also been observed that the Banks incur huge expenses yearly on printing of wall calendars and diaries which is a wasteful expenditure and does not help in improving the banking activities. Therefore, all these Banks have been asked not to incur any amount on this account henceforth and if at all any process to print the wall calendars or diaries/ has been initiated, the same may be stopped forthwith.