..Chairman, Kashmir Economic Alliance, Muhammad Yaseen Khan blamed the negligent approach of state government and RBI which according to him has given a “free hand to public sector banks in Kashmir to ensure flight of capital to outside places.” “It is a grave issue which needs to be dealt with strictly. Business community must wake up as these banks are taking the local people for a ride, by accumulating huge deposits in the state but adopting measly approach while lending,” Khan said. He adds that banks are a business houses which work by the principle of give and take. “But here banks like SBI and PNB are just taking the deposits of business community and when any young entrepreneurs or businessman approaches them for advances, they show rigid approach thus discouraging new start-ups,”.....
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