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J&K bank stops cash transactions at 40 branches in South Kashmir

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The J&K Bank has ceased cash transactions at least 40 branches in South Kashmir’s Pulwama and Shopian districts citing a rapid increase in the bank robberies in recent days.


“A customer can deposit cash in the form of cheques and he can even transfer his money,” said the bank official.

“In a way, these bank branches will be cashless and will do business in receipt form only,” he added. Customers in these areas can do cash transactions at the nearest ‘safe branches’.

Recurring bank robberies
Suspected militants and unidentified men have struck banks, especially J&K Bank, at least nine times since November 8, looting more than Rs 50 lakh.

Police have blamed militant organizations Hizbul Mujahideen and Lashkar-e-Taiba for the incidents, saying it is a sign of cash-starved militants trying to keep the funds flowing.

 

Lashkar denies; says robbing un-Islamic

However, militants have denied these allegations. Lashkar-e-Taiba spokesman, Dr. Abdullah Ghaznavi on Friday, 5th May 2017 evening issued a statement saying it “doesn’t believe in heist”.

“Robbing banks is not the work of militants. Honesty, truth and serving Kashmiri people is our core trait. This is an Indian agenda to malign us and has been planned in New Delhi,” he said.

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