J&K Bank under investigation for recruiting employees fraudulently
Srinagar: During his rally at Bakshi stadium, Prime Minister Narendra Modi announced that the Anti-Corruption Bureau (ACB) is currently investigating a large number of fraudulent appointments made at Jammu and Kashmir Bank. He described the bank as a victim of both dynasty politics and corruption.
To restore the bank’s health, the Prime Minister outlined several reforms. These include providing a financial assistance of 1000 crore rupees to the bank and taking action against wrongful appointments. Modi emphasized that the ACB is still in the process of investigating thousands of such appointments.
Modi also highlighted the transparent recruitment processes that have been implemented over the past five years. As a result, the J&K Bank’s profit has increased to Rs 1700 crores and its business has grown from Rs 1.25 crore rupees to Rs 2.25 lakh crores. Additionally, deposits have risen from Rs 80,000 crores to Rs 1.25 lakh crores. The bank has successfully reduced its Non-Performing Assets (NPA) from over 11 percent to below 5 percent in the past five years.
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Furthermore, the bank’s share value has seen a significant rise, increasing twelve-fold from Rs 12 to about Rs 140 over the last five years. Prime Minister Modi emphasized that an honest government with the intention of promoting the welfare of the people can help overcome any difficulties faced by the people.
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JAMMU KASHMIR