Asking J&K Bank to declare its bad loans, Congress leader Saifuddin Soz Friday said the bank should answer the queries raised as per the RTI Act.
“The next burning issue for the bank should be to take the people of J&K State into confidence on the volume of bad loans,” Soz said in a written statement issued to press. “The bank should realize that it is the tax payers’ money that must have got locked up and the people are entitled to know early the magnitude of this disaster.”
Soz said the bank has taken a “wrong position” both with the public, as well as, with the J&K High Court that the RTI Act doesn’t apply to it.
“J&K Bank can’t take this position under the law. There is already a comprehensive judgment on this issue from the J&K Information Commission. It is not in the interest of the bank itself to feel comfortable with a Single Bench judgment granting a stay, years ago, in respect of application of the RTI Act,” he said, adding “Today or tomorrow the stay granted by the J&K High Court will be vacated by the Court itself.”
He said these issues have been raised in public interest and does not carry “a reflection” on the working of the present administration of the bank.