Govt castigated for turning blind eye towards JKB’s bad debts

Srinagar: JK Bank Officers’ Association (JKBOA) on Thursday castigated the state government for “turning a blind eye towards a pressing issue of bad debts” of the state-owned prestigious financial institution – J&K Bank.
“No concrete action is being taken by the government, which is putting at risk the future of not only the staff employed in it but also risking the interests of the important players of the economy, who expect a liberal approach for their credit needs from this prestigious institution,” said a statement issued by the bank officers.
JKBOA, as per the statement, urged the concerned quarters including the government of J&K “to feel the urgency of taking corrective measures so that things are arrested from going bad to worst”.
The statement added that the association leadership has set in motion the process of consultations with its members and other stakeholders for framing up its line of action to help in salvaging the situation.

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