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Issues of J-K Bank's accountability, transparency must be addressed: Tarigami

Press Trust of India  |  Srinagar 

Welcoming Satya Pal Malik's assurance of safeguarding the autonomy and operational independence of the J&K Bank, CPI(M) MLA M Y Tarigami on Wednesday said the issues of and must be addressed.

Last month, Malik-led (SAC) approved a proposal for treating the Limited as a PSU, bringing it under the purview of the Right to Information Act, the guidelines and the

The move has come under widespread criticism. A delegation of employees met Malik on Tuesday, following which he agreed to rethink the decision.

"It is good that representatives of the employees and the governor's administration met and the issues have been clarified, which is a welcome step," Tarigami said in a statement.

He said certain concerns, however, remained regarding and

The CPI(M) leader said these issues must be specifically addressed as the people of the state have the right to know about the bank's affairs.

Tarigami said former state minister had pointed out in his budget speech in the last assembly session that there have been some serious lapses in corporate governance and management failures over the last few years at the

"Does such a disturbing situation not demand a thorough 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," he said.

He added that the bank's autonomy has to be protected but it should not be used as a pretext to promote big business defaulters at the cost of ordinary customers.

Tarigami said autonomy should strengthen the bank and called for a debate on its affairs in the legislature.

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

First Published: Wed, December 05 2018. 16:10 IST