Marred by corruption, government planning to split Jammu Kashmir Bank Chairman’s administrative powers

Srinagar: Tired by the perennial reports of corruption, the government is planning to split the administrative powers in Jammu and Kashmir bank by taking away the charge of Chief Executive Officer (CEO) from the Chairman bank.

“Currently both the chairman and the post of CEO are being held by Parvez Ahmad Nengroo,” government officials told The Kashmir Press.

“Now the state is planning to take away the charge of CEO from Chairman bank who will be directly appointed by the government. There is serious thought being given to this option”.

Officials said the government is fed with the reports of bungling within the bank especially the backdoor appointments.

The Kashmir Press has reported that the bank has resorted to bungling in the ongoing recruitment of class IV employees.

“The government is also worried about the NPA’S (NPA) which have pushed the bank into losses. Taking these things into account, the government thinks to strip the powers of chairman by bringing in a CEO from the public sector. This will check the misuse of power within the bank. It will also ensure the transparency in the recruitment process besides other dealings”.

Officials said the government is contemplating that financial commissioner should be the CEO.

Some bank officials are of the view that the step is being taken to strip the power of a Chairman, who is always belongs to Kashmir.

However, many of the officials within the bank disagree, asserting that the bulk of the NPA’s were registered by the defaulters belonging from outside the state.

“The bank has registered whopping Rupees 6,500 crore as NPA’s. Most of these loans were granted to non-state subjects. This proves the logic holds untrue that bank chairmen work in the interest of Kashmiris,” officials said.

“This is also not be the first time that government is putting its man directly in charge of the bank. The government has been appointing the general managers earlier as well which got discontinued in mid 90’s”.

The government holds 53 percent share in the bank.

However, government denies that it is planning to split posts in the Jammu and Kashmir bank.

The State Government has strongly denied the speculative reports regarding splitting of the positions of the Chairman and CEO in the J&K Bank”.

“There is no such proposal under the consideration of the government,” an official spokesman said.

The spokesman made it clear that all the decisions regarding the affairs of the J&K Bank are taken by the bank’s Board of Directors under the regulatory framework laid down by the Reserve Bank of India (RBI).

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