Banks Restrict Cash Transactions in Rural South


Srinagar: Following the recent spate of bank robberies, banks have restricted cash withdrawal and cash deposits facilities in rural areas of south Kashmir.

This follows a government advisory to Jammu Kashmir Bank directing it to immediately stop cash transactions in 40 branches of twin districts of Shopian and Pulwama districts.

Jammu Kashmir Government in its advisory has declared 40 bank branches of Jammu Kashmir Bank located in Pulwama and Shopian as vulnerable and has directed the bank authorities not to do business in cash in these branches. “These branches will not be shifted and will function normally. However, a customer can neither deposit nor withdraw the cash. In a way, these bank branches will be cashless and will do business in receipt form only. A customer can deposit cash in the form of cheques and he can even transfer his money,” a JK Bank official told news agency CNS.

The Bank official refuted the reports that some ATM’s have been shifted to safer places in South Kashmir.

Some of the branches that have been declared vulnerable in Shopian district include the branch at Pinjora, Keigam, Trenz, Imam Sahab and Kaprin while in Pulwama some of the vulnerable branches have been identified as Littar, Tahab, Achan, Koil and Drabgam.

Pertinently, this year six incidents of bank robbery took place in South Kashmir. In Turkwangam Shopian unidentified gunmen looted Rs 3 lakh on February 15 while on April 18, Hermain branch of JK Bank was targeted and Rs 12 lakh were looted from there. In Yaripora Kulgam, Rs 65,000 were looted from Elaqai Dehati Bank on May 2 while on May 3 unidentified gunmen looted two branches of Elaqai Dehati Bank at Wahibugh and Nehama Pulwama and looted Rs 620800. Besides, a JK Bank ATM carrying Rs 14,56,000 was stolen from Mominabad area of Anantnag district on January 18.     




Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.



Observer News Service

Leave a Reply

Your email address will not be published.