Decision to treat J&K Bank as PSU triggers protests
SRINAGAR: The chorus against governor Satya Pal Malik’s decision to treat Jammu and Kashmir Bank as a Public Sector Undertaking (PSU) is growing in Kashmir.
On Thursday, there were separate protests by employees of the bank and leaders and activists of Peoples’ Democratic Party (PDP) demanding roll back of the decision taken by the State Administrative Council (SAC) last week.
Hundreds of employees of J&K Bank gathered in the premises of the bank’s corporate headquarters in Srinagar carrying placards and shouting slogans.
The protest was called by All India J&K Bank Officers Federation (AIJKBOF) to collectively describe how the governor’s decision was a “devastating step for the bank and overall economy of the state”.
“It is a peaceful demonstration. We are protesting against the SAC decision and we demand its reversal. We won’t allow its implementation,” Tassaduq Madni, president of the Federation said, as people shouted slogan“This bank is ours and we will decide its future”.
On November 22, the SAC under the chairmanship of Malik approved the proposal for treating the J&K Bank Limited as a PSU. A statement by the government said the bank will be accountable to the state legislature like other state PSUs. The annual report of the J&K Bank Ltd will also be placed before the state legislature through the state’s finance department.
Scores of PDP activists led by senior leader Naeem Akhtar also took out a protest rally near party headquarters in Srinagar.
Akhtar said the governor’s decision was aimed at taking away the autonomy of J&K Bank. “This is an assault on the economy and we want the governor to take it back,” Akhtar said.