JCCI against making JK Bank a PSU

Jammu Chamber of Commerce and Industry (JCCI) Tuesday voiced concern over "politicising the autonomy" of J&K Bank and advised against making it a public sector undertaking (PSU).

"The chamber took a serious view of the attempts being made to politicise the autonomy of J&K Bank which belongs to the people of the state," JCCI president Rakesh Gupta said in a statement here.

He said the chamber advises all those who are trying to make J&K Bank a PSU should desist from such attempts although it strongly advocates and believes in transparency of any institution and feels that it is totally transparent and open for any inspection or information being governed by the RBI.

"J&K Bank is the pride of the people of the state that not only is the backbone of the economy, helping the jobless, financing the entrepreneurs but also as a part of corporate social responsibility,helping all those in the need of hour, the flood relief given in crores to the Government of Kerla is a glaring recent example," he said.

Gupta said similar attempts topoliticise the Shri Mata Vaishno Devi Shrine board have been made often but the Chamber strongly believes that such institutions should be handled by the professionals and not politicians.

The State Administrative Council, which met on November 22 under the chairmanship of Governor Satya Pal Malik, approved the proposal for treating the J&K Bank limited as a public sector undertaking (PSU).