Business Standard

Searches resume at J&K Bank corporate headquarters

IANS  |  Srinagar 

A team of the (ACB) resumed searches on Sunday at the corporate headquarters of the here, after completing a nearly 10-hour raid the previous day.

The team are searching for a collection of evidence for alleged mismanagement in one of the state's

Earlier reports had said the ACB raids were specifically being carried out in connection in 1,200 appointments made by the in 2017.

Informed sources said the scope of the ACB investigation has been extended to the loans and non-performing assets (NPA) portfolios of the

In a sudden move, the government, which owns 59 per cent shares of the bank, sacked on Saturday and appointed as the

is the only designated as the Reserve Bank of India's agency for business. It carries out the business of the besides collecting central taxes for CBDT.

The Bank was incorporated in 1938 and is listed on the NSE and BSE.



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First Published: Sun, June 09 2019. 10:50 IST