The Jammu and Kashmir Bank is now under the purview of Right to Information Act and Central Vigilance Commission (CVC) guidelines. The decision was taken by the Board of Directors of the Jammu and Kashmir Bank.
The move will ensure greater transparency and accountability. The decision is after the removal of Parvez Ahmed as the Chairman of the J&K Bank. He was accused of alleged corruption, nepotism, and favoritism.
Being a government-owned bank, the bank without any choice is to be under RTI. It has been registered under the companies act as a government company. The bank is expected to be brought under the RTI and CVC guidelines by the end of June.
RTI: Right to Information Act provides for setting out the practical regime of the right to information for citizens and replaces the erstwhile Freedom of information Act, 2002. A citizen of India can go for filing an RTI at any point in time whenever he wants to seek any information regarding any government organization, or its any ongoing program, any public authority, etc.
Founded on: 1 October 1938.
Headquarters: Srinagar, Jammu & Kashmir.
Interim Chairman: RK Chibber.
J&K Bank was the first bank in the country to emerge as a state-owned bank.