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news details
Baldev Parkash’s alleged irrational behavior pushes JK Bank into crisis
11/20/2022 11:12:25 PM
Early Times Report

Nov 20: The alleged irrational behavior of Baldev Parkash, incumbent Managing Director, of J&K Bank has led to nearly 1000 officers of the bank applying for premature retirement from the active services of the bank. For a small bank like JK Bank it will be a major crisis.
Appointment of Baldev Parkash from SBI as Managing Director of J&K Bank was welcomed by both staff of JK Bank and the business community of UT of J&K, but all the dreams of the staff and the business community has gone to drains.
Sources alleged that Baldev Parkash doesn’t give any time to business community and the representatives of JK Bank staff. Rather for staff he is always abusive in meetings, as if he is the king and the staff is his bonded labourers.
“Already he has come on JK Bank on health tourism, when it is pleasant in Kashmir, he stays back in Srinagar, where he is supposed to be headquartered, as the corporate office of the bank is in Srinagar but on the flimsy grounds of his health and for the purpose of avoiding the cold of Kashmir he last year also kept his stay in winters confined to Mumbai & Jammu,” sources added.
“Now this year also for his own comfort and in the company of his family he has already planned his stay for winters in Mohali and also might be in Mumbai. For his comfortable stay in Mohali a complete overhaul of the cluster office Mohali is going on. In Mohali building which is just having three floors a lift for the comfort of Mr Parkash is coming up.”
Sources added: “JK Bank also disclosed that MD is suffering with hypertension & diabetes, so his doctor has prescribed him to avoid cold, and if this is the pretext then all must be clear that every second person in JK Bank will be found living on BP medicine with almost everyone a at least type B diabetic. So it is better to place all these employees in warm places during winters on the same grounds that are applicable to MD JK Bank.”
“It is also a shame on part of Baldev Parkash, as being a MD of a prestigious Bank, he is always seen and heard using foul language for his Branch Managers, Cluster Heads, DGMs and GMs. It is also learnt that he again talks in the same dirty language with even the directors of the bank. This whole behaviour of MD has compelled more than 1000 of officers of the bank to opt for Voluntary Retirement Scheme, similarly the major business community of both Jammu and Srinagar region has also made up their mind to repay back and shift their accounts from JK Bank to other Banks,” sources said.
“If for these type of suicidal thoughts & steps of MD Baldev Parkash, some residual measures like his removal from the post of MD is not taken than the JK Bank will collapse anytime,” sources said.
“It seems if Mr Parkash is on a mission to destroy JK Bank, he avoids to meet the valuable customers of the bank and at the same time he is creating unrest and an atmosphere of fear among the staff,” they added.
“In less than a year’s time with JK Bank he gave a substantial number of promotions, but all in a haphazard manner. He promoted more than the requirement of DGMs under political & bureaucratic influence, among the DGMs promoted there are at least four such faces who were the main accused of all kind of malpractices during the period of Mr. Parvez Nengroo,” sources said.
“Then there is one name who is the main accused of major corrupt practices done in Bangalore. There are another two more blue eyed officers, one engineer originally posted as PO but served in only one branch as branch manager where he failed miserably, the second one a female officer who during her whole carrier whenever given the responsibility of being a branch manager always shirked on making flimsy health grounds,” they said.
“In the promotion of AGMs all the deserving branch managers both from Srinagar and Jammu were ignored and those with no experience of operations as branch managers were considered. In this regard the biggest example is one recently promoted AGM who was thrashed publicly by non other than the MD himself opted for VRS. And if the MD himself take a business review of all such recently promoted AGMs he will realise his mistake of ignoring the most competent & deserving officers. Similarly again in the recently declared list of promoted Chief Managers again the same mistake has been repeated. At junior level already the officers have moved the courts and if sources have to believe the bank is completely on the back foot and on the verge of loosing the case, that again will open another pandora box,” sources added.
“Although publicly the top management is hesitant in opening their resentment in public but in the bank circles they are showing their helplessness and all are worried with the future of the bank. One of the top ranked officer from the bank expressing his concerns said that all the recently introduced policies of the MD are showing no results and moreover the unnecessary & unwanted interference by CFO & Ombudsman is creating more embarrassment for the top management especially the GMs and DGMs. He further explained that when RBI has called for two posts at the top one as Chairman and other as Managing Director than why the Government of UT of J&K is not taking a call on it. If being the largest shareholder of the Bank, the government is if interested in the flourishment of the bank than it should immediately place a Chairman in the bank to have a check on the policy decisions of the present MD and his Board of directors. And if the government really serious on this issue than at least someone from the Jammu or Kashmir must be immediately posted as Chairman,” sources said.
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