The Awami Ittehad Party (AIP) has strongly criticized Jammu and Kashmir Bank for what it termed a “ruthless and exploitative” move against struggling borrowers, especially amid the region’s prevailing uncertain economic climate.
Senior AIP Leader and MLA Langate, Sheikh Khursheed, took to X (formerly Twitter) to condemn the bank’s recent actions, stating:
“We strongly condemn the ruthless and exploitative action by J&K Bank of deducting two instalments within 48 hours from borrowers—middle-class businessmen and employees—without any prior notice, under the prevailing uncertain circumstances. This is daylight financial oppression! While honest, struggling borrowers are drained of every rupee, wilful defaulters with hundreds of crores in bad loans are feasting with those in power. This injustice is intolerable and must be exposed.”
AIP has called upon the bank authorities to immediately halt such arbitrary deductions and urged the administration to intervene in the interest of justice and economic dignity. The party warned that continued financial exploitation would be met with mass resistance.
Sheikh Khursheed further said that for many borrowers in Kashmir, particularly employees and small entrepreneurs reeling under inflation and instability, this latest move by the bank has added to their distress.
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