Jammu, April 22 : Depositors of the Jammu Kashmir State Cooperative Agriculture and Rural Development (SCARD) Bank staged a protest in Jammu city of Indian illegally occupied Jammu and Kashmir. Depositors of the Jammu Kashmir State Cooperative Agriculture and Rural Development (SCARD) Bank staged a protest, march from Jewel Chowk towards the Chief Minister’s residence in Jammu, and demanded the release of their matured fixed deposits.The protest underscores mounting frustration among depositors who say their funds have remained unpaid despite maturity, even as authorities maintain that the bank is under liquidation and all deposits are secured by a government guarantee.
Carrying placards and raising slogans against the government, protesters moved through the city center, saying prolonged delays and unfulfilled assurances.
Vijay Kumar Gupta, one of the protesters said that the issue has persisted despite repeated commitments. “Our fixed deposits have matured but the money is still not being paid.
Another protester, Jaswant Singh, said depositors have been given repeated explanations without resolution. “All FDs have matured, but the bank says an audit is taking place. We have been hearing this for the last nine months,” he said.
The SCARD Bank is currently undergoing liquidation following financial distress, a process approved by the government with the stated aim of resolving liabilities and returning funds to depositors.