When the J&K Bank was declared “Public Authority” byState Administrative Council (SAC) on November 22nd 2018 , an atmosphere ofpanic and restlessness was created across state by a section of society withsupport from some people associated with JK Bank management. Such a situationwas created that SAC’s order vis a visapplicability of Right to Information Act (RTI) was not implemented in J&KBank till date. The management of the bank especially the Board of Directors(BoD) were of the opinion that RTI would hamper their business, plus it wouldcreate unnecessary invasion into the affairs of the bank. Now the debate overimplementation of RTI Act in J&K Bank has again gained momentum in theaftermath of relieving of Chairman Parvez Ahmad and subsequent raid on Bank’scorporate headquarters by State Anti-Corruption Bureau (ACB).
BVR’s statement
I appreciate Chief Secretary B V R Subramanhyam for makingthings clear during his press briefing in presence of Governor Satyapal Malikand his advisor Khurshid Ahmad Ganai. There were many apprehensions that BVRcleared. He briefed that action takenagainst JK Bank was not a proactive attempt of J&K Government but it wasinitiated on the advise of Reserve Bank of India (RBI). He reiterated thatJ&K Bank is the Crown of Kashmir which needs to be protected andsafeguarded. CS also assured thatillegal appointments made in JK Bank would be exposed by the ACB which isinvestigating this whole case. It was heartening to know from Chief Secretarythat JK RTI Act 2009 would be implemented in J&K Bank without any furtherdelay as this has to get assent of bank’s Board of Directors (BoD).
Direction of Apex court
JK Bank cannot now shy away from adopting the transparencylaw. Supreme Court’s April 26th 2019 direction to Reserve Bank of India (RBI)makes us understand that J&K Bank has to ratify the RTI law . SC directedRBI to disclose certain information regarding annual inspection reports ofprivate banks and Non-Performing Assets (NPAs) under RTI Act by making changesin its ‘disclosure policy’. The SC hasgiven RBI one “lastopportunity” to withdraw rules blocking the disclosure of inspectionreports of private banks and ordered it to divulge all information sought bypetitioners. “We could have taken a serious view of the continuedviolation but giving a last opportunity to the RBI to withdraw (disclosure)policy,” reads the Supreme Court order. While issuing the judgment in thecase SC bench headed by Justice L Nageswara Rao also asked RBI to review itspolicy to disclose information relating to banks under RTI, and said it was “dutybound under the law”.
Conclusion
I have been fighting this battle with JK Bank for last 8years over applicability of RTI in the bank. All said and done many things arebeing exaggerated in social media about former Chairman. He has been accused ofappointing his daughter in law in the bank which is not true, because his sonis yet to be married. Let us rely on Anti-Corruption Bureau’s (ACB)investigation that will reveal all the facts. When State Crime branch was given the task to investigate into rape andmurder of 8 year old Asifa, most of us were very much apprehensive about theoutcome, but now we all are appreciating the role of Crime Branch as well asJudiciary. There are upright officers in Anti-Corruption Bureau (ACB) who won’tcome under any influence. Within a short span of time they will uncover andunmask every illegal act that had taken place in the Bank. Lastly, let me againmake it clear to the readers, especially the bankers that RTI law’simplementation in J&K Bank will not put the bank in trouble but this willactually strengthen the working of this bank through a transparent process….