Bringing JK Bank under govt control regressive step: Sajad Lone
Srinagar, Nov 23: Flaying the State Administrative Council’s decision to turn J&K Bank into a Public Sector Undertaking, Peoples conference chief SajadGani Lone Saturday said extending government control over independent entities “is a tried tested and failed model”.
“The philosophy of our party is economic liberalisation and decentralisation. We believe the best way government can help is getting out of the way and allowing the enterprise to flourish,” Lone told Kashmir Images.
“Extending government control is a tried tested and failed model. Institutional excellence and sturdiness should be the recurring theme. And banking is based on the trust of the depositors. Whether bringing it under RTI or extending government control is a regressive step,” Lone said.
Lending and borrowing operations can not be the new content of the social media, he added.