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For all branches of J&K Bank, it is business as usual

IANS  |  Jammu/Srinagar 

It was business as usual at all the branches of in and outside on Monday -- two days after the searches carried out by the (ACB) at the bank's corporate headquarters in city.

ACB searches followed the sudden sacking of by the on Saturday.

R.K. Chibber, who chaired a board meeting of the bank's directors on Saturday, was appointed as the interim

An ACB press release said that the two-day ended on Sunday.

ACB officials said documentary evidence regarding the mismanagement, nepotism and corruption by the ousted were collected and investigation was on.

All branches of the started their operations normally on Monday. Customers transacted, deposit and loan business at the branches in both the Valley and the Jammu region as usual.

Employees of the have said in a statement that their loyalties are with the institution and its progress and development and not with any person or his position.

traders and manufacturers association, headed by Muhammad Yasin Khan, has expressed confidence in the financial stability and the contribution of the bank in the development of the state as its premier financial institution.

There has been a dip in the bank's share value when the NSE opened on Monday morning. Bank officials have expressed confidence that the share will pick up quickly as the day progresses.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 10 2019. 12:26 IST