CPI (M) senior leader M Y Tarigami on Wednesday said that transparency, and accountability are only tools to strengthen every institution, including J&K Bank.
In a statement here Tarigami said, “Over the last few weeks, there has been hot debate at various levels over the affairs of Jammu and Kashmir Bank, the premier financial institution of the State. It is good that representatives of the Bank employees and the Governor’s administration met and issues have been clarified, which is a welcome step.”
“However, certain concerns still remain which need to be addressed. The issues of transparency and accountability must be specifically addressed as the people of the state have every right to know about the affairs of the Bank. If then Finance Minister during his Budget speech in the last session of the Assembly said that “I am deeply pained to inform the house that our premier institution, J&K Bank, there have been some serious lapses in corporate governance and management failures over the last few years,” doesn’t such a disturbing situation demand through discussion and debate in the legislature.
It also demands a credible probe to fix the responsibility and also allow the legislature to suggest remedial measures,” Tarigami said. “J&K Bank’s autonomy has to be protected undoubtedly, but this autonomy should not be used as a pretext to promote big business defaulters at the cost of ordinary customers. Autonomy should lead to strengthening J&K Bank itself, but not the wrong doers.”