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Home » Beyond Metros » J&K: No cash transactions in banks after a rise in bank robbery cases

J&K: No cash transactions in banks after a rise in bank robbery cases

By Newsd
Updated on :
Source: Live Mint

After a surge in the cases of bank robberies by alleged terrorists, the J&K government has issued an advisory to the bank to instantly stop cash transactions in at least 40 branches placed in Pulwama and Shopian districts of South Kashmir.

The advisory has been issued in the backdrop of 13 attacks on banks in the last six months. Nearly Rs 92 lakhs of cash has been looted in these attacks. There have been four such incidents of bank robberies in just May.

Except cash transaction, other banking facilities in these branches will remain operational.

“The bank has stopped cash transactions at 40 branches after this police advisory. The branches are located in Pulwama and Shopian districts. We will be delivering cash to the nearest branches that have been declared safe after a survey. Only cash will not be available at these 40 branches. Account holders can go to the nearest branch for cash,” Sajjad Bazaz, Head of Corporate & Communication of J&K bank was quoted saying by The Indian Express.

Some reports also suggest that the ATMs of South Kashmir may also be moved to other areas. However, the banks have denied any such reports. The advisory of ending cash transactions is not specific to J&K banks, but other banks will also have to stop their cash transactions in Pulwama and Shopian districts.

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