Kashmir Indepth

‘No proposal before RBI regarding merger of J&K Bank’

Srinagar, Jul 26 : Amid unconfirmed reports about the merger of Jammu and Kashmir Bank Ltd with some other nationalised or private bank, Reserve Bank of India (RBI) sources Friday clarified that there was no such proposal before it.

Prepare for the greatest experience after eating a nutritious breakfast. You will travel over some of the highest passes in the world on your adventure, and you will be greeted by ever-changing vistas of the desolate landscape. Stop at the café on Khardung-La Pass, the highest all-season motorable road in the world, and take in the scenery; you'll feel as though you're on top of the world. Upon leaving Khardung-la, the terrain changes to a white sand desert as you approach the Nubra Valley, which is home to the Nubra Sand Dunes. Visit the Diskit Monastery, the oldest and biggest monastery in Ladakh, which also contains a sizable Buddha statue, if time permits.

“There has been no initiative from the RBI regarding merger of the J&K Bank. Some TV channel ran this story which is absolutely baseless,” they told KNS.

“If there is something from the state government regarding the merger that is separate. But RBI has neither issued any notification nor is privy to any such decision. There is a state level meeting of the J&K Bank scheduled on August 10 and there is nothing much beyond that,” sources said and added no such proposal has been moved by the state government as well as of now.

On Wednesday some news channels ran a story claiming that J&K Bank faces the prospect of a merger with a public sector bank, most likely the State Bank of India.

The J&K Bank has remained in news ever since its chairman Parvaiz Ahmad was sacked by the governor in early June following which state Anti-Corruption Bureau (ACB) sleuths conducted raids on the Corporate Office of the Bank on TRC Road here. Executive Director of the Bank RK Chhiber was named as its interim chairman in place of Ahmad, who was appointed in October 2016 as the chairman of J&K Bank.

The governor administration also approved a proposal that provisions of the J&K Right to Information Act, 2009, shall be applicable to the Bank just like other state-owned undertakings. It also now follows guidelines of the Central Vigilance Commission.

Related posts

New guidelines to fight COVID-19 to come into effect from May 4; relaxations to many districts: Home Ministry

Kashmir Indepth

Kashmir Indepth

Observe complete civil curfew till April 1: KCCI to people 

Zainab Hamdani

Not HALAL, says OREO on Twitter

Kashmir Indepth

Market opens on a positive note; Yes Bank cracks 4 pc

Kashmir Indepth

Kashyap calls govt ‘fascist’ over its handling of student protests against CAA

Kashmir Indepth

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy