Jammu & Kashmir

JK Bank row: Bank’s employees hold protest on second consecutive day, demand rollback of SAC decision

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Image courtesy: Greater Kashmir.

Srinagar: Employees of Jammu and Kashmir Bank held protests for the second consecutive day on Friday against the government’s decision to turn the bank into a Public Sector Undertaking (PSU) and demanded a rollback of the State Administrative Council (SAC) decision.

Scores of employees staged a protest outside the Zonal Headquarters of the bank at Maulana Azad road in Srinagar to demand revocation of the order passed by the SAC.

All India J&K Bank Officers Federation (AIJKBOF) is spearheading the protests against the SAC decision.

The protesting employees were carrying banners with messages like ‘Roll Back SAC decision’ and ‘J&K Bank is a wonderful institution, let it remain wonderful’.

ALSO READ: JK Bank as PSU: Former Finance Minister Rather terms the decision ‘disastrous’, demands its revocation

The protesters threatened to intensify protests if the decision was not revoked.

Earlier, Employees Joint Action Committee had yesterday announced their support toward the protests.

Industrialists Association Khunmoh (IAK) on Thursday gave an ‘ultimatum’ to the government till Saturday to revoke the decision.

Addressing a press conference, IAK members including Kaiser Shahid, Sr Vice president, Yasir Khan, Vice president, Imran Murataza, General Secretary, Shaheem Khan, Secretary Finance and Javaid Ah Lone, Secretary said that the recent decision taken by the government to reduce JK Bank as PSU was ‘economic terrorism’, saying that such decision are unacceptable to the people.

ALSO READ: ‘Governor is not rethinking on SAC’s decision which declared JK Bank a PSU’

Giving an ultimatum to the government on revoking the decision till Saturday, the IAK said that the Industrialists will observe shutdown on Saturday (December 01) in case the decision won’t be revoked.

Peoples Democratic Party (PDP) had on Thursday organised a protest rally demanding the revocation.

Until recently, the bank had been classified as an “old private sector bank” and supervised by the RBI, while also being subject to oversight by the Comptroller and Auditor General (CAG).

Following the Governor-led SAC’s approval of the proposal for treating Jammu and Kashmir Bank Limited as a PSU, mainstream regional parties criticized the move, including JK People’s Conference chief Sajad Lone.

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