Excelsior Correspondent
SRINAGAR, June 6: The J&K Handicraft Employees Association (JKHEA) today expressed strong concern over J&K Bank’s move to deduct advance EMIs from salaried employees’ accounts.
Suhaib Munshi, JKHEA President said several employees were shocked to find overdrafts created in their accounts without prior and transparent communication.
“This has caused distress among many Government employees who rely on timely and full disbursement of their salaries to manage household expenses,” he said.
“We understand the bank’s intent to protect credit scores, but the way it has been implemented is causing unintended hardship,” he further said.
He added that financial decisions of this nature should involve consultation with account holders and must be backed by clear consent and timely communication.
“We believe a more flexible and transparent approach could help achieve the same objectives without disrupting families’ monthly budgets,” JKHEA President said.
The Association has urged J&K Bank to revisit its policy and explore alternative mechanisms that would protect both the bank’s financial interests and the dignity of its customers.
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