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J&K Bank under purview of RTI
December 2 , 2018
2212 days
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- As per the Chief Vigilance Commissioner (CVC) guidelines and the State Legislature, the Jammu and Kashmir bank were brought under the purview of the Right to Information (RTI) act.
- The decision was taken by the State Administrative Council (SAC) chaired by Governor Satya Pal Malik.
- The objective of the decision was to strengthen better corporate governance.
- As per the proposal, hereafter, the J&K Bank Limited will be treated as a Public Sector Undertaking (PSU).
- It shall be accountable to the State Legislature like other state PSUs and the Annual Report of the bank shall be placed before the State Legislature through the State Finance Department.
- It is the only state government promoted bank in the country, with the Jammu and Kashmir government currently holding 59.3 % of the shares.
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