Earlier reports had said the ACB raids were specifically being carried out in connection in 1,200 appointments made by the bank in 2017.
(Photo: IANS)
Two days after investigations got carried out at J&K Bank’s corporate headquarters in Srinagar city by the Anti-Corruption Bureau, things got normal for all the branches of the bank everywhere.
It was on Saturday that the Chairman of J&K Bank Parvez Ahmad, for alleged mismanagement and corruption, was sacked by the state government which owns 59 per cent shares of the bank. Also, RK Chhibber was appointed as the interim chairman.
Earlier reports had said the ACB raids were specifically being carried out in connection in 1,200 appointments made by the bank in 2017.
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On the one hand, the ACB conducted a nearly 10-hour raid at the corporate headquarters of the bank on Saturday, searches were being done on Sunday too.
After the two-day process, business continued at all branches of J&K Bank.
According to an ACB press release, the two-day long search operation concluded on Sunday.
ACB officials intimated documentary evidence regarding the mismanagement, nepotism and corruption by the sacked Chairman were collected.
Customers visited banks for their normal transactions.
Employees of the bank have said in a statement that their loyalties are with the institution and its progress and development and not with any person or his position.
Kashmir traders and manufacturers association, headed by Muhammad Yasin Khan, has expressed confidence in the financial stability and the contribution of the bank in the development of the state as its premier financial institution.
J&K bank is the only private sector bank designated as the Reserve Bank of India’s agency for banking business. It carries out the banking business of the Central government besides collecting central taxes for CBDT.
The Bank was incorporated in 1938 and is listed on the National Stock Exchange and Bombay Stock Exchange.
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