Strictly adhere to austerity measures: JK govt to co-op banks

The Jammu and Kashmir government has asked all the cooperative banks in the state to strictly adhere to the "austerity measures".

"It has been observed that the banks incur huge yearly expenses on the printing of wall calendars and diaries, which is a wasteful expenditure and does not help improve the banking activities.

"Therefore, all these banks have been asked not to incur any amount on this account henceforth and if a process to print the wall calendars or diaries has been initiated, the same may be stopped forthwith," an official spokesman said today, quoting from a circular issued by the government.

He added that the government had asked all the banks operating under the state cooperative sector to strictly adhere to its instructions, issued from time to time by the finance department, regarding the observance of the austerity measures.

The circular was issued yesterday.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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