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Activity: Question posted: 04 18 2009 14:46:27 +0000, 2 answers, 364 views, last activity 07 06 2010 20:18:08 +0000
 
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  Answer modified by     Rakesh Chakraborty, Sr. Associate, ING  | 10 06 2009 10:45:07 +0000
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This is not a right attitude. India invests its maximum money in J&K on the J&K bank is under state government. Whatever it may be, it is under some government right??? Not under a single owner. Its owner keeps on changing after every 5 years. And No state runned bank should collect tax. It is against nationalism. his will promote regionalism. Everyone should pay taxes finally to RBI. Even if J&K bank is collecting, it should pass them to RBI rather than keeping with itself. Common...J&K is also another state of India so it should also be treated like other states. Why to treat exceptionally ?

  Answered by     wasim akbar lone, Master in Finance and Control(MFC)  | 10 05 2009 19:49:17 +0000
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J&K bank has 53.7% of shares with govt. But still it is called private bank. its because J&K bank comes under state government and not the central government. this is true with central government only like we have SBI which comes under central government. But J&K bank comes under state govt. And one more thing, whenever moey is required it is borrowed  from J&K bank and not RBI in our state.And here in our state J&K bank is a lead bank not SBI as its J&K bank which collects taxes in our state and not SBI.....

 
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