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| Kashmir Economic Alliance asks Jammu & Kashmir Bank authorities to set their record straight | | | Jehangir Rashid
SRINAGAR, Sept 3: Kashmir Economic Alliance (KEA) has asked the state government to come out clean and use its influence while asking the management of Jammu & Kashmir Bank to mend its ways and stop further exploitation of the people in the state. Responding to the media reports about kickbacks received by a Director of Jammu & Kashmir Bank in lieu of a building deal in Mumbai, Siraj Ahmad, Chief Spokesman KEA said that the revelations have come as a shocker to the people of state more so to those who are the clients of Jammu & Kashmir Bank. "The apprehensions raised by KEA about the overall functioning of Jammu & Kashmir Bank have been found to be convincing and receptive. No other bank in the country or elsewhere would have remained tight lipped after serious allegations of discrimination and wrong doings were leveled against it in public. Even the state government and /or other regulatory agencies have not directed the management to come out clean and dispel the allegations so as to regain public faith and confidence," said Siraj. The KEA chief spokesman said that management of Jammu & Kashmir Bank does not care and respect the public sentiments and apprehensions of its clients. He said that same can be said of the state government. "KEA would in all earnest requests the Bank Management to come out clean on the issues raised by a section of media. Names, facts, figures and discriminations given in the columns of the newspapers have caused enough doubt and suspicion among the share holders and clients. Both the state government and the bank management including its Board of Directors are duty bound to come out with the facts and clean hands, as otherwise the Bank will suffer due to the erosion in its credibility," said Siraj. The KEA chief spokesman said the Alliance will definitely look for other avenues to get the facts if the bank maintains its silence and resorts to dubious methods of silencing public apprehensions. He said that KEA firmly believes that the bank management by organizing meetings with some trade delegations in no way can hoodwink the opinion of the people. "By such approach the bank management cannot try to absolve itself from its responsibilities in the backdrop of the serious allegations surfaced against it. KEA pledges to take all possible measures to safeguard the interests of the Bank by making the Bank Management including its Board of Directors accountable," said Siraj.It would be in place to mention here that KEA, an amalgam of various trade bodies in Kashmir had threatened to snap all its business deals with Jammu & Kashmir Bank. The threat was issued after revelations by KEA that businessmen of the state are forced to pay 17 percent and in some cases 22 percent as interest on the bank loans availed from the Jammu & Kashmir Bank while as the outside businessmen are asked to pay nine percent as interest on the loans availed by them from the same bank. |
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