Mufti Meets Jalan To Revive Nationalised Banking In Valley

Mumbai, January 21: | Updated: Jan 22 2003, 05:30am hrs
In an attempt to revive the nationalised banking operations in Jammu and Kashmir, chief minister Mufti Mohammed Sayeed held detailed discussions with Reserve Bank of India (RBI) governor Bimal Jalan here.

Most of the nationalised banks have almost closed down their operations in the valley and I had a detailed meeting with the RBI governor in this regard, sayeed told a press conference.

The J&K chief minister said his meeting with Jalan was a sequel to his discussions with Union finance minister Jaswant Singh.

Later talking to reporters, the chief ministers daughter Mehbooba Sayeed stated that most of the banks are on the verge of closure as their staffers have left the state.

She listed branches of State Bank of India and Punjab National Bank as being on the brink of closure.

As most of the bank staffers have left the state, the chief minister might have sought the RBI governors permission to recruit locals to continue the banking operations, she said.

Mehbooba also expressed concern over the presence of scanty staff in central agencies like post and telegraph.

Stating that militancy existed even in the national capital, the chief minister claimed that security apparatus in the state has been successful in countering infiltration from across the border.

Sayeed, who also met captains of industries and representatives of Bollywood and travel and trade, stated that he had approached the corporate sector for investing more in the state.