JK-SCARD Bank depositors stage protest
Excelsior Correspondent JAMMU, July 7: More than 500 depositors representing about 22,000 investors, who deposited about Rs. 183 crore, in the 60 year old J&K State Cooperative Agricultural and Rural Development (JK-SCARD) Bank, here today, staged a protest demonstration. The...
Excelsior Correspondent
JAMMU, July 7: More than 500 depositors representing about 22,000 investors, who deposited about Rs. 183 crore, in the 60 year old J&K State Cooperative Agricultural and Rural Development (JK-SCARD) Bank, here today, staged a protest demonstration.
The protesters claimed that they were facing extreme financial hardship for the last one and half year in getting their hard earned money back after they deposited it in 60 different branches of JK-SCARD Bank spread all over J&K.
The depositors comprised farmers, retired employees, ex-servicemen, small businessmen and others.
They claimed that they all are on protest for the last one year and have met all the concerned authorities including Registrar and Secretary Commissioner, Co-operative Department and also the concerned Minister but only got assurances.
They also claimed that despite being an important public issue, Government officials are proceeding on leaves one after another thereby unnecessarily delaying the process of reimbursement.
“More than ten depositors have lost their life due to financial shock,” a protester claimed.
The depositors appealed to the J&K UT head and head of the elected Government to restore faith of the public in Government banking system by ensuring payment to them of their deposited money.
