Srinagar: Reserve Bank of India spokesperson said that J&K Bank is bound to follow the directive of RBI to put deduction of all EMI payments on hold for three months due to the prevailing situation. RBI spokesperson informed KNS that after any such directive from RBI, banks call a board meeting, modify lending policy and pass on the direction in the form a circular to all the branches. “I guess J&K Bank has not called the meeting yet. In case customers complain their EMIs have been deducted, they need not to worry. They will get back the amount. Otherwise, J&K Bank will be penalized. We have penalized J&K Bank in past as well,” the spokesperson added.