This followed a police advisory to the banks in the countryside to temporarily shift the cash departments to safer areas in order to keep militants at bay and prevent robberies in the future
Alarmed by a growing number of robberies, banks in Jammu and Kashmir have decided to shift the cash deposit and withdrawal department of the vulnerable branches to the relatively safer areas of the restive south Kashmir region.
This followed a police advisory to the banks in the countryside to temporarily shift the cash departments to safer areas in order to keep militants at bay and prevent robberies in the future
"There is an advisory from the police. They have identified some branches and told us that their cash dealings should be held in towns and other adjacent branches in the safe zones," said Sajjad Bazaz, in-charge, corporate communication, Jammu and Kashmir Bank.
Acting on the advisory, the banks have kept the services of cash dealings of certain branches in the towns. "We have identified the branches where account holders can withdraw or deposit the cash," Bazaz said.
Figures reveal that around 40 branches of different banks have been asked to shift their cash departments to safer zones.
"Apart from cash dealings, other businesses are being run in these (vulnerable) branches. The branches themselves have not been shifted. Only cash dealings have been shifted from certain branches on the advisory of the Jammu and Kashmir police," Bazaz added.
Figures reveal that around 10 banks have been looted since demonetization was announced in November last year. These include four in Pulwama, two in Shopian, two in Kulgam, and one each in Budgam and Kishtwar.
Militants in Kashmir have looted three banks, disarmed five cops and killed seven men before decamping with nine rifles this week alone. Two banks were looted in a span of two hours within a 12-km radius on Wednesday, with militants decamping with over Rs 6 lakh in cash in Pulwama district. On Tuesday, pistol borne stormed the Ellaquai Dehati Bank in Kader Yaripora village of South Kashmir Kulgam district and looted over Rs 65,000 cash.
Money worries
Police sources said demonetization has hit militants hard.
Militants in Kashmir have looted three banks, disarmed five cops and killed seven men before decamping with nine rifles this week alone.
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