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| ACB conducts raid at residence of J&K Bank manager in Pulwama | | |
Early Times Report
Srinagar, Oct 19: The Anti Corruption Bureau (ACB) on Saturday raided the residence of a Jammu and Kashmir Bank manager in south Kashmir district of Pulwama, official sources said.
They said the ACB sleuths raided the house of the manager, presently posted at corporate headquarters in Srinagar, early this morning in Pulwama.
The Governor administration had on June 8 removed J&K Bank chairman Parvez Ahmad and appointed R K Chibber the interim chairman. Soon after the decision was announced, the ACB searched the bank's headquarters in Srinagar and also raided the residence of Mr Parvez.
However, recently it was reported that the bank was also involved in hawala transition besides terror funding.
''Parvez Ahmad, Chairman-cum-Managing Director, shall cease to be Director on the Board of Directors of the Bank and consequently be no longer the Chairman cum Managing Director of the board,'' Additional Secretary, Finance, Vishal Sharma had said in the order. It further added that Chhiber had been appointed as the interim chairman and as a director on the board of directors.
The Jammu and Kashmir government holds 59 per cent shares of the bank. It is also the only private sector bank that is designated as the Reserve Bank of India's agent for banking business and conducts the same services for the Centre apart from collecting central taxes for Central Board of Direct Taxes.
Mr Ahmad, who was removed five months before the end of his term, was appointed by the Peoples Democratic Party (PDP) and the Bharatiya Janata Party (BJP) coalition government in October 2016. |
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