PAMPORE, June 09: National Conference leader and parliamentarian from Anantnag parliamentary constituency, Justice (retired) Hasnain Masoodi demanded an inquiry into alleged “recruitment and loan” scam in State’s only listed company, The Jammu and Kashmir Bank limited.
Masoodi who was on a visit to his constituency in Galander Pampore area told Sachnews Jammu Kashmir that for last two years the J&K Bank was in news for alleged recruitment scam and granting loans to blue eyed persons.
He termed the recent move of removing Parvez Ahmed from post of chairman and CEO as a good step for bringing transparency in the functioning of the financial institution.
“If this will bring transparency in J&K Bank then it should be welcomed,” he told Sachnews, demanding an inquiry into alleged recruitment scam and sanctioning of loans to some favourite persons who were close to previous government officials.
“A time bound inquiry should be asked to probe the scams and those found guilty should be held accountable,” he said. He said that authorities should look into how the bank officials recruited 4000 candidates against a mere 1000 advertised posts.
The bank officials pushed the competent youth to the wall only to favour candidates recommended by a particular political party.
He told Sachnews that if the bank has around 6 and half thousand NPAs( non performing assessts) those responsible for this should be held accountable.
He also demanded that huge sums of money sanctioned in loans to persons close to corridors of power should be recovered and the list of such defaulters should be made public.
He urged up on authorities to restructure the bank so that it serves poor and weaker sections of society than to few influential persons.
“The J&K Bank is no more a poor man’s bank, it serves interests of a few influence yielding people”.