Excelsior Correspondent
JAMMU, Jan 19: Depositors of the State Cooperative and Rural Agriculture Development (SCARD) Bank staged a protest, here today, alleging prolonged delay in the release of their matured deposits and accusing the Bank’s management and the Government of passing the responsibility onto each other.
The protest witnessed participation from people belonging to different sections of society, including labourers, ex-servicemen and small businessmen, many of whom claimed they have been running from pillar to post for the past one year to retrieve their hard-earned savings. Holding placards and raising slogans, the protesters expressed anguish over what they described as the Bank’s indifferent attitude towards genuine depositors.
The agitating depositors alleged that despite the maturity of their fixed deposits and savings schemes, the Bank has failed to disburse payments without providing any clear or written explanation. They voiced serious concern over an alleged financial fraud amounting to nearly Rs 200 crore in the SCARD Bank, stating that the uncertainty surrounding the issue has eroded their confidence.
One of the protesters said that Bank officials claim the Government will compensate depositors, while the Government, on the other hand, maintains that it is the Bank’s responsibility to make the payments. This contradictory stance, he said, has left thousands of depositors confused and anxious about the safety of their money.
Another protester pointed out that with nearly 90 per cent shareholding of the SCARD Bank reportedly held by the Government, it is the Government’s moral and administrative responsibility to clarify why depositors are being denied access to their own funds.
The protesters demanded immediate intervention by Chief Minister Omar Abdullah, urging him to order a fair and transparent investigation into the alleged financial irregularities and issue a clear assurance regarding a definite timeline for the release of pending matured deposits.
Follow our WhatsApp channel
