Transparency, accountability only tools to strengthen every institution, Tarigami

Srinagar, Dec 5 Welcoming the clarification by Governor administration over recent controversy about Jammu and Kashmir Bank (JKB), senior Communist Party of India (M) said transparency and accountability are the only tools to strengthen every institutions, including JKB.

Over the last few weeks, there has been hot debate at various levels over the affairs of JKB, the premier financial institution of the State, Mr Targami said in a statement here on Wednesday afternoon.
He said it is good that representatives of the Bank employees and the Governor’s administration met and issues have been clarified, which is a welcome step.

However, certain concerns still remain which need to be addressed, he said adding the issues of transparency and accountability must be specifically addressed as the people of the state have every right to know about the affairs of the Bank.

He said if then Finance Minister during his Budget speech in the last session of the Assembly said that “I am deeply pained to inform the House that our premier institution, J&K Bank have been some serious lapses in corporate governance and management failures over the last few years,”doesn’t such a disturbing situation demand through discussion and debate in the legislature.