Former Jammu and Kashmir finance minister and Apni Party president Altaf Bukhari has questioned Jammu and Kashmir Bank’s lending pattern, recruitment policy and board composition, alleging that the bank has reduced lending in the region while increasing it outside Jammu and Kashmir.
Former Jammu and Kashmir finance minister and Apni Party president Altaf Bukhari also questioned the composition of the bank’s board of directors, alleging that Kashmir had negligible representation.
Bukhari also alleged that efforts were being made to shift J&K Bank’s headquarters from Srinagar, describing the reported move as a matter of serious concern. “Jammu and Kashmir Bank, as you all know, is a jewel in the crown. It has an important role in the development of Jammu and Kashmir and in the lives of its people. “The Chief Minister Omar Abdullah, who also holds the finance portfolio, should address the issue. J&K Bank is the bank of the Jammu and Kashmir government. Bukhari also alleged that the bank’s recruitment policy has been changed as far as hiring outside Jammu and Kashmir is concerned. He alleged that the bank’s present management was considering a policy of recruiting local residents for its operations outside Jammu and Kashmir. He claimed that despite the elected government having been in office for two years, the board did not have adequate representation from Jammu and Kashmir. He demanded an immediate clarification on the bank’s recruitment and board composition. He warned that any move to shift the headquarters could hurt sentiments in Jammu and Kashmir and appealed to the government and others concerned to intervene.
I have also been the finance minister of this state, and I felt saddened when I saw these results,” Bukhari said at a press conference in Srinagar. He also said that the Jammu and Kashmir government has a majority shareholding in the bank. They are the majority shareholder,” he said. He said the bank had traditionally recruited residents of Jammu and Kashmir even for posts outside the region. “This means another avenue of employment for the youth of Jammu and Kashmir is being blocked,” Bukhari said. “If this is being done as part of a well-thought-out plan, it is a matter of concern and should be clarified immediately,” he said. “Emotions can be played with to an extent but not beyond that,” Bukhari said.
