Srinagar, July 26: Some private banks operating in the Valley today said they had participated in the Clearing House “on all the days it was conducted.” Officials of Axis Bank and Yes Bank here said they had participated in the Clearing House on all the days it was conducted.
 “Barring one private sector bank, all the banks participated in the clearing house,” vice president Yes Bank, Srinagar and branch head Axis Bank Ltd here said.
 Meanwhile, regional manager, State Bank of India, M A Road here said the Clearing House at Srinagar is managed by SBI and “it is because of the sincere efforts put in by our employees that the Clearing House was conducted despite hostile law and order situation.”
 “The House remained suspended on the days of curfew and hartal because most of the participating banks including private sector banks preferred not to participate.   We have to put in special efforts to encourage and motivate these banks to participate in the proceedings.”
 To mention, this newspaper had earlier carried a news story quoting sources as saying that since June 23 nationalized banks and some other new generation private sector banks had not participate in the Clearing House here and that they had done so only on the directions of the Reserve Bank of India.

Lastupdate on : Mon, 26 Jul 2010 21:30:00 Mecca time
Lastupdate on : Mon, 26 Jul 2010 18:30:00 GMT
Lastupdate on : Tue, 27 Jul 2010 00:00:00 IST