Declaring JK Bank as PSU

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‘No rethinking on rollback of SAC decision’

Srinagar, Nov 26: The Governor Satya Pal Malik is not mulling rethinking on rollback of controversial decision of State Administrative Council (SAC) headed by him that declared Jammu and Kashmir Bank a Public Sector Bank to bring it under the full administrative and financial control of the Jammu and Kashmir Government.
A top government official on conditions of anonymity said that Governor Satya Pal Malik is not mulling any rethinking over the SAC decision on declaring Jammu and Kashmir Bank a Public Sector Bank and won’t pay any heed to cries of two largest Kashmir mainstream parties National Conference (NC), Peoples Democratic Party (PDP), Trading bodies of Kashmir and Trade unions of the state.
He said, “since the government has already clarified that it does not intent to intervene in the working of the bank and would ensure its autonomy, the Governor does not see any scope to rollback the SAC decision that declared Jammu and Kashmir Bank a Public Sector Bank.”
A top leader of All India J&K Bank Officers’ Federation on conditions of anonymity said, “protests in black robes by bank employees against the SAC decision may be the beginning of a bigger struggle to secure the interests of the bank after which the government could be served an ultimatum as the bank employees are ready to even lay down their lives for protecting the institutional, administrative and financial autonomy of the bank.” KNS)