Srinagar 26 November: A day after Governor Satya Pal Malik dissolved the Assembly,Jammu and Kashmir state administrative council chaired by him has issued a proposal to turn the J&K Bank into a public sector institution, taking away its autonomy and making it accountable to the state legislature. Further, it will also be brought under the ambit of the J&K RTI Act and the Central Vigilance Commission.
Earlier, National Conference and Awami Ithad party holds a protest against State administrative council’s decision to turn Jammu and Kashmir bank into a public service undertaking, and termed it as “injustice with people of Kashmir”
While, Er Rashid along with his workers holding placards “Stop turning J&K Bank into SRTC” and said don’t erode the Autonomy of J&K bank”, chanted slogans against the Governor’s administration.
While addressing the protesters, Rasheed said that the state administration council wants to erode the autonomy of J&K bank. “The governor is taking the decisions which are not helpful for the people of Jammu and Kashmir,” Rashid said.
Rashid requested all the political parties including the National, Congress and the People’s Democratic Party to come together and safeguard the Autonomy of J&K bank.
Senior leader and ex MLA Shameema Firdous of National Conference said, that J&K bank is the asset of Kashmiri people and if this institution come under PSU it will ruin the people of Kashmir.
“If this decision is not revoked, it will affect the financial aspects of JK Bank,” he further added.
In the meantime, National Conference leader Omar Abdullah called it a “disturbing development” and said the governor was a caretaker administrator who does not “have the people’s mandate to take such major decisions with far-reaching implications”.
While terming it a disturbing step, Peoples Democratic Party leader and former Chief Minister Mehbooba Mufti said “These things have to be left to democratically elected government. The Governor is not mandated by the people of the state to take such decisions.”
People’s conference Chief Sajad Gani Lone termed it as a tried, tested and failed model.
“Extending government control is a tried tested and failed model. Institutional excellence and sturdiness should be the recurring theme. And banking is based on the trust of the depositors. Whether bringing it under RTI or extending government control is a regressive step,” Lone said.
Addressing a press conference, chairman of KEA, Mohammad Yaseen Khan said this decision will impact the people of Jammu and Kashmir badly. Khan said that if this decision comes in to play a huge sum of money belonging to lakhs of people deposited with J&K Bank will be at high “risk”. (KNB)