Cancellation of Advertisement for recruitment by the J&K State Cooperative Bank

Cancellation of Advertisement Notice No. 01 of 2017 for recruitment floated by the J&K State Cooperative Bank, Srinagar, Kashmir, dated 19 April 2017

Whereas, it has come to notice that the J&K State Cooperative Bank Ltd., Raj Bagh Srinagar, Kashmir, has published an advertisement in the print media on 19th April, 2017 in the daily Srinagar Times dated 19-04-2017 inviting applications for recruitment of candidates against various categories of posts to be filled up in the Bank; and

Whereas, the Government of Jammu and Kashmir have signed a Memorandum of Understanding (Mol) with Government of India and Reserve Bank of India/ NABARD, making it mandatory for Cooperative Banks not to make any recruitment in these Banks till the process of recapitalization of three District Central Cooperative Banks is complete; and

Whereas, the advertisement floated by the J&K State Cooperative Bank shall be construed as a violation of the terms and conditions of the aforementioned Mol; Whereas, the CRAR of the said J&K State Cooperative Bank has also been reported to be falling below the prescribed level, thus making it obvious that the financial health of the Bank is not well and

Whereas, the aforementioned Bank had also made appointment in the recent past, against which a number of complaints have been received and the matter has been referred to an investigating agency of the State; and

Whereas, the Government of Jammu and Kashmir in Cooperative Department, have desired to cancel the said Advertisement Notice bearing No. 01 of 2017 issued by the J&K State Cooperative Bank Ltd. , Athwas Gahh, near Silk Factory, Rajbagh, Srinagar; forthwith.

Now, therefore, in view of the aforementioned financial as well as administrative position and in exercise of the regulatory role vested with the Government of Jammu and Kashmir, the Advertisement Notice No. 01 of 2017 issued by the J&K State Cooperative Bank Ltd., Athwas Gahh, near Silk Factory, Rajbagh, Srinagar; published in daily Srinagar Times dated 19 April 2017, is cancelled forthwith.