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The J&K Bank Officers Association and Traders' federations, though, supported the attempts by the state government to improve the transparency, accountability, fair recruitment policy and governance in J&K Bank. The anti-corruption bureau of J&K registered an FIR and made several raids including the ones at the corporate office of J&K Bank at ...
In June 2019, the Reserve Bank of India approved the appointment of Chhibber as interim chairman and managing director (CMD) of the Bank, following the removal of Parvez Ahmad from the post by the state government. [9] [10] He also served as the Chairman of J&K Grameen Bank an Indian Regional Rural Bank. He was elevated as the Executive ...
Jammu & Kashmir Bank Limited (J&K Bank) is an Indian private sector bank headquartered in Srinagar, Jammu and Kashmir.The Jammu and Kashmir Bank was incorporated on 1 October 1938, by the then ruler of the princely state of Jammu and Kashmir Maharaja Hari Singh with an initial paid up capital of ₹5.00 Lakh.
The Jammu & Kashmir State Vigilance Commission Act, 2011 reveals the formation of JKSVC under the section State Vigilance Commission Act, 2011 which indicates that the JKSVC was constituted on 15 February 2011 under Sub-Section-1 of Section 3, with the mandate to monitor, inquire or investigate the corruption under any Act of the Parliament or the Act of State Legislature of J&K. [6]
The fraudulent transactions, linked to Nirav Modi, were first noticed by a new employee of the bank. [80] Two branch employees were involved in the scam, in which the bank's core banking system was bypassed to raise payment notes to overseas branches of other Indian banks (including Allahabad Bank , Axis Bank and Union Bank of India ) with the ...
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
In July 2015, Halder was appointed the managing director of NRB Global Bank (later rebranded Global Islami Bank). [3] [5] Halder owned HAL international, whose director, Swapan Kumar Mistri, was a director of International Leasing and Financial Services Limited. [3] Mistri's wife was the chairperson of Mutual Trust Bank Limited Marine. [3]
The Bofors scandal was a major issue that was highlighted in subsequent elections, which led to the Congress losing power. Though it was widely believed that V. P. Singh resigned from Rajiv Gandhi's cabinet due to the Bofors scandal, Singh clarified that he had resigned due to differences in the cabinet in commissions taken by Indian agents in the HDW submarine deal (Shishumar class).