JK Bank employees hold protest on fourth consecutive day against SAC decision

Srinagar

Employees of Jammu and Kashmir Bank on Sunday staged a protest for the fourth consecutive day against the state administrative council decision to treat the bank as a public sector undertaking.

JK Bank employees stages a protest against SAC decision.

Scores of employees of the bank assembled at its corporate headquarters on M A Road and staged a demonstration, under the banner of All India J-K Bank Officers Federation.

The protesting employees of the bank were demanding immediate rollback of the decision.

The SAC decision has come under widespread criticism from regional political parties and business and trade organizations of the Kashmir.

Earlier on November 22,  SAC brought JK Bank under the purview of RTI, CVC Guidelines, and the state legislature. It also approved the proposal for treating the state’s first listed company as a Public Sector Undertaking (PSU).

“The SAC approved that the provisions of the Jammu and Kashmir Right to Information Act, 2009 shall be applicable to the J&K Bank Ltd like other PSUs besides the Bank shall follow CVC guidelines,” an official spokesman said. “The J&K Bank Ltd shall be accountable to the State Legislature like other State PSUs.  The Annual Report of the J&K Bank Ltd shall be placed before the State Legislature through the State Finance Department.”

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