Unjust Deduction of Two Loan Instalments by J&K Bank – A Gross Violation of Banking Norms

Srinagar May 03(PTK): The Jammu and Kashmir Employees Coordination Committee (JKECC) strongly condemns the unauthorized deduction of two loan instalments in a single month by Jammu & Kashmir Bank from the accounts of multiple government employees. This blatant breach of banking protocol and disregard for employee rights has caused unwarranted financial distress to already struggling workers.

JKECC Chairman Shah Fayaz stated that such arbitrary and irresponsible actions not only highlight serious mismanagement within the bank but also undermine the trust of the public in financial institutions. At a time when inflation is weighing heavily on the shoulders of employees, such unauthorized deductions without prior notice or consent are both unethical and unacceptable.

JKECC Demands

Immediate refund of the excess instalment along with a formal apology from the bank.

Departmental action against officials responsible for this gross negligence.

Adoption of transparent, accountable, and employee-friendly loan repayment mechanisms.

We urge the management of J&K Bank and the UT Administration to treat this violation with the seriousness it deserves. Failure to resolve the matter swiftly will leave JKECC with no option but to launch a public agitation in defense of employees’ financial rights. (PTK)