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Jammu & Kashmir Bank Ltd Q2 loss at Rs. 602.4 crores

Jammu & Kashmir Bank Ltd Q2 loss at Rs. 602.4 crores”

The Jammu and Kashmir Bank, the only listed Company of the state today announced its reviewed financial results for the half year ended September 2016, the declaration of which got delayed pending approval of its Rehabilitation package by the Reserve Bank of India that was finally cleared in the previous week. "A hunt has been launched to nab the robbers", a police officer said.

Unidentified persons looted over Rs 34 lakh from a Jammu and Kashmir Bank branch in Kishtwar district I November. "The looted cash contains Rs 16,000 with old denominations".

Police say they have identified that Lashkar-e-Taiba is behind these bank robberies as terrorists have been hit hard by notes ban. More than Rs 25 lakh have been looted from two different branches of the Jammu and Kashmir Bank in Budgam and Pulwama districts.

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Meanwhile, shortly after the incident, Army personnel from 50 Rashtriya Rifles, Police and CRPF cordoned off Ratnipora village to flush out the unidentified gunmen, however, witnesses said that no arrests were made.

The crime was caught on the banks CCTV surveillance, which showed the gunmen roughing up people. "They were two foreigners including abu Ali and abu Ismail and two locals of whom one was identified".

This is the fourth bank robbery in the valley in the last five months.

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There has been a sudden spurt in the attacks on banks which coincide with the move to demonetise the notes by the central government.

"We have confirmed that the robbers were militants", said Pulwama SP Rayees Mohammad Bhat.

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