- Jammu and Kashmir Bank has been brought under the purview of the Right to Information (RTI) act, the Chief Vigilance Commissioner (CVC) guidelines and the State Legislature
- The State Administrative Council (SAC) under the chairmanship of Governor of J&K Satya Pal Malik, approved the proposal for treating the J&K Bank Limited as a Public Sector Undertaking (PSU).
- The SAC approved that the provisions of the Jammu and Kashmir Right to Information Act, 2009 shall be applicable to the bank like other PSUs. Besides, the bank shall follow CVC guidelines.
- Established in 1938, the J&K Bank Ltd is the only state government promoted bank in the country, with the Jammu and Kashmir government currently holding 59.3 per cent of the shares.
Points to remember:
- Which bank has recently been purview of the Right to Information (RTI) act, the Chief Vigilance Commissioner (CVC) guidelines?
- When was J&K Bank Ltd. established?
- Which is the only state government promoted bank in India?