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The Governor Satya Pal Malik has assured the stakeholders that his administration would re-examine the issue of accountability of the J&K Bank to the state legislature.
He said that J&K Bank is a premier institution of the state and its financial health and future growth is of utmost importance to Jammu & Kashmir. Therefore, the Government would support all initiatives and take necessary steps to make the J&K Bank a vibrant Institution. He assured the J&K bank employees association that they should not worry about their employment. He also made it clear that word PSU has no legal connotation and the Bank would continue to function as a private company.
The Governor’s decision has been welcomed by one and all as the J&K Bank is the symbol of state’s economy and this bank has helped almost everyone in Kashmir. Every Kashmiri is attached to J&K Bank emotionally. The Governor Malik by announcing that decision about the Bank being made accountable to Legislature would be reconsidered would go a long way in diffusing the tension.
Political parties National Conference, Peoples Democratic Party and Peoples Conference welcomed the Governor’s decision and urged him to keep the J&K Bank away from the ambit of the politics.
One hopes that the Governor Malik would put this controversy to rest and allow J&K Bank to function independently. Since the day Governor Malik has taken over the reins of the state he has tried to put things at place and make system more responsive. The entire focus of the Governor’s administration has been on the youth of Kashmir. It was on the directions of the Governor Malik that youth, who were dropped by the J&K Bank, were appointed in the Bank. It seems that it was after meeting the youth the Governor Malik shifted his focus towards the J&K Bank and made it clear to the Bank authorities that they should ensure that image of the institution is not maligned.