x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   J-K highway reopened after 3-hr-long blockade due to landslide | Indian Army hits out at Shehla Rashid for levelling false allegations, spreading fake news | Direct Tax Code set to replace existing Income Tax Act of 1961, Task Force to submit report today | Teachers report to schools in Kashmir Valley, students don’t | Announcements by successive govts mere rhetoric | Rumour mongers forced administration to snap internet within 36 hours after restoration | Admin says internet snapped due to technical glitch, Police warns of strict action | Rumours grip Jammu city, long queue of vehicles at Petrol Pumps | Halted transfers in School Edu proves boon for teachers staying in cities | Munish Gupta's Mass Contact Programme on bicycle continues | Over 190 primary schools will open tomorrow in Srinagar: Government | Jammu Tawi Golfers Association formed | 2 injured, cases of hooliganism reported: J-K Principal Secretary | In detention, Omar Abdullah killing time with video games, Mehbooba Mufti takes to praying, reading | NDS organises Dogri Sangeet Sandhya | Natrang stages Saadat Hassan Manto's 'Kamra No.9' | Banker's Meet at regional level held | DBPS felicitate artists, media persons | Jammu Runners Group felicitates top runners of 100 days of running challenge | Keen to reopen all communication channels: Advisor to Guv | Advisor Sharma takes stock of prevailing situation, development scenario in Kathua | First batch of Hajj pilgrims arrive in Srinagar | Divisional Commissioner, IGP Jammu visit Rajouri, interacts with civil society | Another lie has shamed Pakistan | Historical wrong undone | Pakistan rejects India's request to resume Samjhauta, Thar trains | 'Don't abuse PM Modi': Shazia Ilmi takes on anti-India protesters in Seoul | India should use Israeli model of drip irrigation system; suggests Indian expert | Mentally ill' woman kills her minor kids by slitting their throats with axe | Normalcy returns in Kishtwar-Doda, schools to open today | As night falls, jawans on alert to keep Kashmir safe | India's biggest underground hydroelectric project suspended due to rise in silt levels in Sutlej | LED screens to live telecast Ganga Aarti at all ghats in Varanasi | Locals rue water crisis | Would return to real time normalcy elude Kashmiris for long? | Government focuses on four specific groups for maintaining calm in J&K | Chinese troops entered Ladakh because Congress neglected region: BJP MP Jamyang Tsering Namgyal | Pakistan violates ceasefire in Nowshera sector amid tension, Indian Army retaliates | Tight security near houses of three former Chief Ministers as they lay deserted | BJP cadre now hope Ram Mandir, Uniform Civil Code come soon | States, UTs utilised just 16% allocated Poshan Abhiyaan resources | Work or will tell public to do 'dhulai': Nitin Gadkari's warning to RTO officials | Triple Talaq Bill: We corrected a historic wrong, opposition knew deep inside it was required, says Amit Shah | If talks take place with Pakistan, it will be on PoK: Rajnath | AIIMS starts internal enquiry into fire disaster | Under Pak rule, Gilgit-Baltistan most neglected, backward area in South Asia: Book | Holy Charri/Akhand jyot of Machail Mata Yatra reaches Kishtwar | DDC reviews implementation of farmers` welfare schemes | Ladakh Leaders urge centre for tribal-area status to protect land, identity | DDC Ramban reviews progress on NH-44 four laning project, resolves bottlenecks | Locals in Kupwara await surge in job opportunities after abrogation of Art-370 | JKNPP seeks PM's intervention in enactment of domicile law for J&K | Members of NGO Jiyo aur jeene condemn excess usage of plastic material | Delegation meets SDM Jammu | Grant separate statehood to Jammu with all rights reserved: Congress | Sat inaugurates free eye check up camp at Poonch House | AJCSF appeal to safeguard Jammu's culture, identity | Grant separate statehood to Jammu with all rights reserved: Congress | Trikuta Nagar residents stage protest against PHE | 13 Tractors with trolleys seized for illegal mining | Plus 2 Lecturers forum discuss demands | People happy with abrogation of Article 370 in J-K: G Kishan Reddy | ITBP jawan dies of 'accidental' gun shot in Mendhar | Restore statehood to J&K without delay: Balwan Singh | Jat Sabha congratulates Guv | Kaith Biradari's congregation on August 25 | Tugga Biradari's congregation on August 25 | Back Issues  
 
news details
Govt will protect J-K Bank: Chief secretary
6/12/2019 6:56:41 PM

Srinagar


Defending the sacking of Jammu and Kashmir Bank chairman Parvez Ahmad, the state government said on Wednesday that it would protect the institution and work towards making it an internationally renowned bank.

"I am saying this with full authority of the Governor (Satya Pal Malik) that the bank will be protected, it will be made a shining bank. It will be run by people of Jammu and Kashmir. We are interested that it becomes an internationally renowned bank. It should get branches all over the world -- London, Singapore, Dubai, etc.," Chief Secretary BVR Subrahmanyam told reporters here.


He was responding to questions about the sacking of Ahmad by the government last week.

"Please wait for three months and you will see results flowing out of J-K Bank," he said.

The chief secretary said the government did not act against the bank.

"The RBI gave us a letter saying that we are extremely concerned about governance issues in JK Bank. These issues have been pending in spite of repeated requests of RBI and therefore we were forced to remove the CMD," he said.

Subrahmanyam said an interim chairman and managing director (CMD) from the hierarchy of the bank has been appointed and a full-time chairman and managing director will be finalised by a search committee which will be formed soon.

"The JK Bank is the shining crown of this state. Therefore, it is important that this bank regains its glory. You have heard about the ACB raids. There were some old complaints about irregularities and appointments. It is not about the appointments that Governor talked about. They were boys and girls who qualified an exam and were in waiting list. They were then appointed," he said.

The chief secretary said the bank has a registry and it was known to all on whose recommendations people were being appointed in the bank.

"There are written papers which say bring a recommendation and you will get the job. It was called CSR.

"How can you appoint people under CSR in a bank? It can be done in a government. A bank is not fundamentally an employment agency. A bank is first and foremost a bank. A bank is the custodian of people's money and government money. Primary responsibility of the bank is to take care of the money. It is not a charitable institution, it is a misnomer. That is the fundamental objective from which the (JK) bank had moved away," he said.

Subrahmanyam said the bank was splurging money under CSR on golf courses while the state government had to give a capital subsidy to it only last year.

"JK Bank has spent Rs 50 crore under CSR on golf courses. My government gave it (JK Bank) Rs 500 crore last year as capital subsidy. A bank which requires government money to remain operational, does it have business to spend Rs 50 crore on golf courses where less than a 1,000 people play. That is an elite sport. It is unacceptable for a bank. If the bank had a Rs 2,000 crore profit, no question. It is living on government money," he added.

On bringing the bank under the Right to Information (RTI) Act, he said the bank has no choice but to be under RTI as it is a government-owned bank.

"It is registered under the Companies Act as a government company. By the end of June, the bank will be brought under RTI and CVC guidelines," he added.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU