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| PDP asks Government to explain JK Bank bunglings | | If not clarified, will ask for special RBI audit: Spokesman | | Early Times Report
SRINAGAR, May 30: Expressing deep concern at the murky details of non-performing assets (NPA) revealed today, Peoples Democratic Party (PDP) has asked the government to come clean on these reports. In a statement the party chief spokesman, Naeem Akhtar said the reports of creating NPAs to the tune of Rs 25 crore are highly disturbing but of greater concerns are the attempts to conceal them in order to show higher profits. Akhtar said the state finance minister must come out with government's response on the report since the bank management seems involved in these malpractices that could threaten the very health of the Bank as is apparent from the crash of its share prices today.
He said the finance secretary of the state who is on the Bank's board of directors should also come out on the goings on in the bank as the political leadership of this government has lost all credibility.
"Should that not happen and a convincing explanation does not come from the government the PDP would be forced to write to the Reserve Bank of India for instituting a special audit to reach the truth" said Akhtar. The PDP spokesman said it was extremely worrying that state's most important and premier financial institution had been compromised by appointing wrong persons on the board of directors and the bank management. It appears even the auditors come under cloud as reported by the newspaper.
Akhtar said the shady deals in the bank are provided a cover by appointing blue eyed persons with dubious record who apparently are beneficiaries of the malpractices. PDP leader said while within the state the bank loans are very stingily sanctioned big loans outside the state are obviously given to those who don't even deserve them. |
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