Banking affected as employees reluctant to go to work

Banking affected as employees reluctant to go to work
RAKESH ROCKY

JAMMU, FEB 14: People in the Valley are facing severe financial hardships following disrupted banking in more than two dozen branches of nationalised banks here.

Recently, officials in several nationalised banks refused to continue their operations without adequate security, following the abduction of a senior bank employee. The official was released only after a hefty ransom was paid to the militants. The employee went in a state of shock and did not resume duties, despite facing a demotion.

With this incident, the security to banks and their employees has suddenly become a hot topic in the Valley. The banks are demanding `safer' areas to resume their operations and their jittery officials want adequate security if the government intends them to restore normal functioning from their original places.

A few days ago, the state level Security Committee of Banks met the state chief secretary to discuss relocation of some sensitive branches. They urged the government to provide them with 24-hour security. Responding to the committee's request, the chief secretary has asked the banks for a list of their most sensitive branches, within 14 days.

However, sources said that the government has decided it would provide security only in the most-sensitive areas.

Though as many as two dozen branches of nationalised banks have shifted to `safer' places, the RBI norms state that no bank can shift its branch without prior permission. ``These banks had started shifting to other places due to the prevailing insurgency and they had even reported this to the RBI. Since the employees feel insecure, they were allowed to shift temporarily. However, now these branches will be relocated,'' said Y.P. Mahajan, Deputy General Manager of the RBI.

The State Bank of India has 11 branches working `by proxy'. The Punjab National Bank has two, Central Bank of India, three, Canara Bank, two, Allahabad Bank, one, Punjab & Sindh Bank, one, Bank of Baroda, one, Indian Overseas Bank, one, Bank of India, one and J-K Bank has six such branches.

An enquiry by The Indian Express revealed that the most-affected district is Srinagar where 14 branches of different banks are not operating from their allotted places. All these are in remote areas and employees have to trudge several kilometers to reach their place of work. The fallout of this has been that most of the branches are operating from their Srinagar headquarters. In fact, the SBI has suspended operations in its branches in the insurgency-prone Harigangwan and Barsoo.

Similarly, in Baramula district, six branches of various banks are functioning from other places, in Anantnag district three branches, in Doda, three and in Kupwara, Pulwama and Budgam districts, one branch each of these various banks are operating from other `safer' places.