Anti-graft body be­gins probe into al­leged vi­o­la­tions at J&K Bank

The Hindu Business Line - - BANKING -

The Anti-Cor­rup­tion Bureau in Jammu and Kash­mir has be­gun prob­ing al­le­ga­tions of cor­rup­tion and nepo­tism against for­mer chair­man of J&K Bank, Par­wez Nen­groo.

In­ves­ti­ga­tion against Nen­groo is in line with the move to plug cor­rup­tion in the State. “The ACB is prob­ing Nen­groo’s meteoric rise from a CA to Chair­man in a short span of 15 years, de­spite his shady rep­u­ta­tion. He had his nephew (Muzaf­far) posted in the bank im­me­di­ately after


He is con­sid­ered a key man of the Chair­man,” an MHA source said.

“His daughter-in-law, Shazia Am­breen, was ap­pointed as a PO, and cur­rently heads the Hazrat­bal branch. Two J&K bank branches, Kaprin Shopian and Wuyan Pul­wama, op­er­ate in his per­sonal premises. Both lo­ca­tions are highly un­suit­able from a bank­ing point of view,” the source added.

“Per­son­nel tak­ing over as man­ager As­lam Ganai is close to Nen­groo, and al­legedly acted as a con­duit for ef­fect­ing trans­fers in the bank. This was as per the ex-Chair­man’s wishes with com­plete dis­re­gard to the bank’s in­ter­ests. It is well known in the bank as to who is to be ap­proached re­gard­ing trans­fers,” the source said.

There are al­le­ga­tions that loans worth hun­dreds of crores of ru­pees were sanc­tioned in brazen vi­o­la­tion of SOPs/guide­lines to se­lect rec­om­mendees of Im­ran An­sari and Sa­jad Lone.

There have also been huge vari­a­tions in cost: in­come ra­tio as ex­pen­di­ture dur­ing Nen­groo’s time spi­ralled up to 200 to 500 per cent.

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