South Kashmir: 40 bank branches go ‘cashless’

Story By: Rajesh Sharma
Saturday, May, 06 2017 - 16:38

Following the recent robbery attacks on bank branches and vans in Jammu and Kashmir, the Government has issued an advisory to Jammu Kashmir Bank to immediately stop cash transactions in 40 branches of Shopian and Pulwama districts, South Kashmir.

“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 bank official told reporters.

The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank, which were targeted by militants recently.

The move to stop cash transactions is temporary till effective measures are put in place to ensure safety and security of bank employees and assets.

At least nine robberies have been reported in the area since November 8.

More than Rs 50 lakh were looted from the bank branches.

The militants have carried out an attack on J&K bank cash van in Kulgam that left five policemen and two bank guards dead.



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