SAC may rethink its decision on JK Bank: Sources
Srinagar: The government is mulling to revoke its earlier order on Jammu and Kashmir Bank by retaining its character as a Public Sector Bank, top sources in the government said Monday.
They said that State Administrative Council (SAC) during its meeting on Wednesday may announce revocation of its decision keeping in view the rising tempers against the proposed SAC decision.
“Since the government has so far issued an order only for bringing the JK Bank within the ambit of Right to Information (RTI) act but so far it has not issued any order on changing Jammu and Kashmir Bank into a Public Sector Bank, the rethinking over the issue could be discussed in the next SAC meeting,” a senior government official said.
Notably, the SAC decision has been opposed by the JK Bank Management, its work force, trade bodies, civil society members and two largest mainstream regional political parties, the National Conference (NC) and Peoples Democratic Party (PDP). (KNS)