The J&K Bank has stopped cash transactions in 40 branches after repeated attacks by suspected militants in the past six months, The Indian Express reported on Saturday. The bank conducted a survey and declared the branches in the districts of Pulwama and Shopian unsafe. All other banking facilities will be available in the identified branches.
Sajjad Bazaz, Corporate & Communications Head, of the bank said the management has decided to move cash transactions to “safer” branches. “We will be delivering cash to the nearest branches that have been declared safe after a survey,” he said. “Only cash will not be available at these 40 branches. Account holders can go to the nearest branch for cash.”
“A customer can deposit cash in the form of cheques and he can even transfer his money,” an unidentified official of the bank told Hindustan Times. “In a way, these bank branches will be cashless and will do business in receipt form only”
On May 1, suspected militants killed five police personnel and two bank officials while they decamped with a cash-loaded vehicle from a branch in Kulgam district. After the incident, the state police issued an advisory asking banks to stop cash transactions in branches located in areas from where frequent militant attacks are reported.
On April 28, security forces had foiled an attempt by militants to rob a branch in Anantnag district. They managed to arrest one of the rebels as well.
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