No rethinking on rollback of SAC decision that declared JK Bank a Pub Sector Bank

Srinagar: The Governor Satya Pal Malik is not mulling rethinking on rollback of controversial decision of State Administrative Council (SAC) headed by him that declared Jammu and Kashmir Bank a Public Sector Bank to bring it under the full administrative and financial control of the Jammu and Kashmir Government.
Local news gathering agency KNS quoted a top government official as saying that Governor Satya Pal Malik is not mulling any rethinking over the SAC decision on declaring Jammu and Kashmir Bank a Public Sector Bank and won’t pay any heed to cries of two largest Kashmir mainstream parties National Conference (NC), Peoples Democratic Party (PDP), Trading bodies of Kashmir and Trade unions of the state.
He on conditions of anonymity said, “since the government is already clarified that it does not intent to intervene in the working of the bank and would ensure its autonomy, the Governor does not see any scope to rollback the SAC decision that declared Jammu and Kashmir Bank a Public Sector Bank.”
A top leader of All India J&K Bank Officers’ Federation on conditions of anonymity told Kashmir News Service , “protests in black robes by bank employees against the SAC decision may be the beginning of a bigger struggle to secure the interests of the bank after which the government could be served an ultimatum as the bank employees are ready to even lay down their lives for protecting the institutional, administrative and financial autonomy of the bank.”
Amid no response over the demand for the rollback of the SAC decision on making Jammu and Kashmir Bank a Public Sector Bank, the National Conference (NC) took out a protest rally over the demand for rollback of the SAC decision on Jammu and Kashmir Bank. Two former chief ministers Omar Abdullah and Mehbooba Mufti have already demanded rollback of the SAC decision and Hurriyat Conference (M) chairman Mirwaiz Molvi Umar Farooq has voiced his serious concerns over the government intervention in the working of the Jammu and Kashmir Bank which he said, was the only economic institution over which people of Jammu and Kashmir had directed control.