Terming the state government’s decision to treat J&K Bank a public sector undertaking as “a ploy to snatch the autonomous character of the financial institution”, the Hurriyat Conference (M) chairman Mirwaiz Umar Farooq said on Sunday that the resistance leadership in Kashmir won’t remain silent over the “serious issue”.
“We can’t remain silent on the new ploy of the government of India of staking claim on J&K Bank which is primarily a people’s institution,” Mirwaiz said, addressing a seerat conference here. “After snatching human, political and religious rights of the people of Kashmir, New Delhi now wants to target Kashmir’s economic institutions. J&K Bank is a people’s institution and we will not allow its sell-out,” he said.
The governor’s administration, which recently declared J&K Bank as a PSU, attempted to clarify on Saturday that it had no intention of interfering in the daily affairs of the J&K Bank and that its functional autonomy, with its board of directors as supreme decision-making body, remains unquestioned. The Bank will continue to be regulated by the Reserve Bank of India, the administration said.