Srinagar, June 4 -- The Kashmir Trade Alliance (KTA) has expressed serious concern over the deduction of audit and inspection charges from the accounts of business owners by J&K Bank, terming the move arbitrary and lacking transparency.

In a statement issued by KTA President Aijaz Shahdhar, the alliance said it had taken up the matter with the bank's management after receiving complaints from several traders. The bank authorities, according to Shahdhar, stated that the charges were being levied based on recommendations from statutory auditors. Additionally, fees were being imposed for non-submission of monthly and quarterly stock statements, as well as for physical inspections. Shahdhar said that the deductions have come at a time when t...