SRINAGAR: Jammu & Kashmir RTI Movement has hailed the decision of State Administrative Council (SAC) to bring Jammu & Kashmir Bank within the purview of Right to Information Act and expressed hope that the bank authorities will act as public authority within the meaning of the law and provide information to public under the Act.
In a statement issued here, RTI Movement chairman Dr Raja Muzaffar Bhat said the decision of SAC is expected to bring transparency and accountability in the functioning of J&K Bank.
However, RTI Movement has serious reservations about other part of the decision declaring J&K Bank as Public Sector Undertaking (PSU) which has severe legal and social implications, he said.
“The condition of Public Sector Undertakings (PSUs) in Jammu & Kashmir like SRTC, JK Cements, JK Minerals, JK Handicrafts Corporation, State Financial Corporation (SFC) etc has deteriorated due to the mismanagement and constant political/bureaucratic interference. The public at large including civil society groups, stakeholders of JK Bank including its staff have apprehensions that the only prestigious financial institution in Jammu & Kashmir will collapse and become insolvent,” Dr Muzaffar said.
He said the RTI Movement is committed to move forward in collaboration with other stakeholders to seek reversal of this SAC decision as the same runs counter to the spirit and objectives for which the institution was created.