BJP condemns protests against decision to convert J&K-Bank into PSU
What's the story
The BJP yesterday condemned the propaganda launched by some Kashmir-based political and other socio-economic organizations against the State Administrative Council's (SAC) decision to convert the J&K Bank into a PSU. It said there is an urgent need for transparency in the operation of the bank, which has been under the cloud for rising NPAs and back door appointments. Here is more.
Background
SAC approved the proposal for treating J&K Bank as PSU
Last week, the Jammu-and-kashmir'>Jammu and Kashmir Bank was brought under the purview of the Right to Information (RTI) Act, Chief Vigilance Commissioner (CVC) guidelines and the state legislature. The SAC, which met in Jammu on Thursday under the chairmanship of Jammu and Kashmir Governor Satya Pal Malik, approved the proposal for treating the J&K Bank as a public sector undertaking, the official said.
Information
Besides RTI Act, J&K Bank shall also follow CVC guidelines
The SAC approved that the provisions of the Jammu and Kashmir Right to Information Act, 2009 shall be applicable to the bank like other PSUs. Besides, the bank shall follow CVC guidelines, said the official. The CVC addresses the governmental corruption issues.
Criticism
Decision has been welcomed by majority of J&K population: BJP
"The motivated propaganda against SAC decision to convert J&K Bank into PSU is highly condemnable. There is a deliberate attempt by the vested interests in Kashmir to oppose the decision of the SAC," J&K BJP spokesperson Brigadier Anil Gupta said. He said protests and statements to arouse public sentiments have failed since the decision has been welcomed by majority of the population across J&K.
Statement
J&K Bank has been suspected of undue favors: BJP
"The J&K Bank has been under cloud for rising non-performing assets (NPAs), backdoor appointments, misuse of corporate social responsibility (CSR), undue favors and lack of transparency," said Gupta. The BJP spokesperson also ridiculed comments of the Jammu and Kashmir Socio-Economic Coordination Committee (JKSECC), a Srinagar-based group, that, "making J&K Bank a PSU is a ploy to make us financially dependent on New Delhi".