JK Bank: Mirwaiz Reacts To Governor’s Decision

Srinagar

Mirwaiz Umar Farooq has accused Delhi of “targeting” the economic institutions of Kashmiris. He was reacting to the decision by the State Administrative Council (SAC) that converted the JK Bank into a PSU and permitted various other institutions to oversee its functioning.

“We can’t remain silent of new ploy of Government of India about staking claim on J&K bank which is a people’s institution,” Mirwaiz was quoted saying to a function at Mirwaiz Manzil, the traditional nerve centre of the Awami Action Committee. He has indicated a mass agitation against it and sees it as “targeting of Kashmir’s economic institutions”.

In response to criticism against the move, a spokesman of the governor on Saturday said the move is not aimed at interfering in the day-to-day affairs of the Bank or taking away the functional autonomy of its Board of Directors. The decision “is only aimed at promoting good governance and transparency” in the bank’s functioning.

Earlier in the day, Kashmir Economic Alliance (KEA) threatened an agitation against the move if it is not withdrawn.

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