Bringing JK Bank within the ambit of RTI a welcome step: Justice (Rtd) Masoodi

Says, “RTI a best tool to improve banks transparency, makes it subject to judicial review”

Bringing JK Bank within the ambit of RTI a welcome step: Justice (Rtd) Masoodi

Srinagar: Welcoming the decision of the Jammu and Kashmir government to bring Jammu and Kashmir Bank within the ambit of RTI, the retired High Court Judge Justice Hasnain Masoodi on Saturday said that extension of RTI to J&K Bank will end obstructionism and repression and promote transparency in the top financial institution of the state.
Local news gathering agency KNS quoted Justice (Rtd) Masoodi as saying “Till now we had no right to know anything about the working of the bank but with Government bringing Jammu and Kashmir Bank within the ambit of RTI, the people now have a right to know about the non performing accounts through which defaulters have taken one thousand crores and with the application of RTI obstructionism and repression will end in the Jammu and Kashmir Bank.”
Saying that people from outside Jammu and Kashmir have taken huge loans from the bank but are not repaying, Justice (Rtd) Masoodi said, “Recovery teams beat drums at the doors of locals who take small loans but no recovery campaign is launched against the people in other states of the country who have taken huge loans from the bank without any mortgage or third party guarantee. When it comes to the sanction of loan for a resident of Jammu and Kashmir, the Bank seeks every guarantee including the land mortgage for small loans.”
Raising questions on recruitments, Justice (Rtd) Masoodi said, “Against 350 sanctioned vacancies, the bank recently appointed 2500 candidates including the 589 candidates appointed on the directions of Governor Satya Pal Malik. During last three years more than 2000 banking associates were appointed through backdoor without following the proper procedure.”
Saying that with RTI applicable to Jammu and Kashmir Bank, the candidates and the general public will have the right to know about the process of recruitments and selections in the bank, Justice (Rtd) Masoodi said, “Till now the Jammu and Kashmir Bank was not subject to judicial review but now it is subject to judicial review after being brought into the ambit of RTI.”

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