Bilal Bashir Bhat Follow @bilalbashirbhat
Srinagar, Jun 18 (Only Kashmir): The sudden storm of changes and actions initiated by the governor administration against Jammu and Kashmir Bank has generated optimistic behavior towards its new management and staff among the people of Kashmir.
The open secret corruption scandal in Jammu and Kashmir Bank which came to light after the dismissal of Chairman Mr. Parvez Ahmed amid raids by the Anti-Corruption Bureau was perhaps expected because of the high-level allegations by the candidates in recruitment, alleged use of state exchequer in futile activities, nepotism, and a growing number of existing NPAs results in declining the initialization of Jammu and Kashmir Bank.
“It had been alleged since long that nepotism rules roost because even for the posts advertised by the bank particularly Relationship executives, Probationary officers, and banking associates the cut off marks, number of posts and merit were never displayed. The posts of assistant banking associates and other low scale officers were never advertised mostly likely filled by influential politicians, high ranking officials of the bank and others.”
“Further there was no transparency and accountability when it comes to granting of loans. Common debtors were coerced by public shaming while big fish who had influence and powerful were let off often resulting in loss of the bank,” says writer and activist Mushtaq ul Haq Siqandar, adding, bringing J&K bank under the purview of RTI and CVC is a welcome step but transparency needs to be maintained while advertising posts and also granting loans otherwise these steps will prove futile.
The implementation of J&K RTI Act, 2009 is considered the major sign in bringing J&K Bank towards prosperity and transparency. The maiden Board of Directors meeting last week under the Chairmanship of its interim Chairman & Managing Director Mr. Rajesh Kumar Chhibber has indeed fulfilled the long demands of public which including strict action against all the willful defaulters and implementation of J&K RTI Act, 2009 and CVC guidelines.
Pinning hopes on the new administration, Mir Imran a rights activist talking to Onlykashmir[dot]in said, J&K is faced with the demon of corruption. Institutions in J&K especially JK Bank seem to be struggling hard to find a way out. We all should stand together and fight corruption to protect democracy, the rule of law, sustainable development and, consequently, human rights. This is the time to show that we are tired of corrupted leaders, corrupted institutions and corrupted NGOs. We want to change NOW! If we accept this, then we are happy with corruption in J&K as a whole! The change will never come unless some people stand up for change! This is the time to stand up for change.
Meanwhile commenting on the appointment of Rajesh Kumar Chhibber as interim Chairman & Managing Director, Chairman Centre for Youth Development Imtiaz Ahmad Chesti said Jammu and Kashmir Bank belongs to state as a whole, an asset which benefits all. May it be a banking or employment provider. It hardly matters from which region chairman is. No discrimination can be tolerated among three regions of the state. Changes are just as long as it doesn’t violate basic structure.
“Unfortunate, that financial institution like J&K Bank has been in news for wrongdoings. We believe that new management should not only shun corrupt but must expel people who entered through back door entries and who even still try to do it, this will definitely help J&K Bank to bounce back.”
“The trailing economy and share price in the market must be stabilized as early as possible and a recovery process must be started for all the state and non state NPA to settle their debts with bank,” says Muzamil Maqbool, a developmental professional also worked with World Bank, adding, the management must also keep an open grievance cell for employees and customers of bank 24/7and this should remain apart from customer services.
Expressing confidence in the Bank’s fresh top-level management, a local youth Shadab Peerzada said an expert banker will definitely change the professional environment in JK Bank. I personally appreciate the action taken by the government against JK Bank officials & implementation of RTI, no matter they are corrupt or innocent but it will definitely change the approach, adding, we hope that the unprofessionalism, behaving like feudal lords will come to end. He said strengthening of technology framework is much needed in Jammu and Kashmir Bank.
Pinning hopes on new management, Syed Tajamul Imran, a management graduate stated it is ironic that when it comes to the rich and powerful, J&K has heartily opened its coffers. Except flagging the customarily show-cause notices against these big defaulters, the bank has virtually taken no concrete steps to recover the huge money.
