SRINAGAR, June 12 -- Chief secretary B V R Subramanium today said the recent developments in J&K Bank were not directed against the bank but against the mis-goverance and corruption of certain elements in the bank.
"We acted on the directions of Reserve Bank of India that expressed concern over the mis-management. We did not act against JK Bank. RBI shot us a letter showing concern about the bank. We have zero tolerance on corruption," Governor Satya Pal Malik said who was seconded by chief secretary at a press conference here. Chief Secretary questioned the functioning of the bank stating that it is not an employment agency.
"How can you (JK Bank) employ people under Corporate Social Responsibility (CSR). It is not the job of the bank to...