JKSECC urges Guv to revoke SAC decision on J&K Bank in entirety

The members also questioned the move of bringing of the bank under RTI and said that although the amalgam is desirous of maintaining utmost transparency in the working of the bank, yet bringing it under the ambit of RTI cannot “vaguely be adopted” before extensive debate and deliberations with the stakeholders.

GKNN
Srinagar, Publish Date: Dec 6 2018 10:12PM | Updated Date: Dec 6 2018 10:12PM
JKSECC urges Guv to revoke SAC decision on J&K Bank in entiretyRepresentational pic

Jammu and Kashmir Socio Economic Coordination Committee (JKSECC), an amalgam of several business chambers and civil society formations, has urged Governor Satya Pal Malik to revoke SAC decision on J&K Bank in its entirety.

“If he (the governor) has any respect for the sentiments of the majority of people of Jammu and Kashmir, he should revoke the decision immediately,” read a statement issued by theJKSECC.

“We reject the half-hearted and vague assurances of the governor given to the delegation of bank employees that in no way addresses the apprehensions of experts and business community regarding pushing this great asset of people in the direction of government controlled PSUs which primarily have failed because of political interference and bureaucratic apathy.” The members in a meeting, according the statement, said that the very declaration of J&K Bank as a public sector undertaking has far reaching implications as the bank shall lose its autonomous character after becoming subservient to the government as any other PSU. 

“If mere declaration as PSU doesn’t have any legal connotations as stated by the Governor then why to declare it so in the first place,” said the statement. The members also objected to bringing the bank under the jurisdiction of central vigilance commission terming it “completely unconstitutional and against the special status of the state and its institutions”.

The members also questioned the move of bringing of the bank under RTI and said that although the amalgam is desirous of maintaining utmost transparency in the working of the bank, yet bringing it under the ambit of RTI cannot “vaguely be adopted” before extensive debate and deliberations with the stakeholders.

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