The Jammu and Kashmir Bank will now come under the purview of Right to Information Act and Central Vigilance Commission (CVC) guidelines, an official spokesman said Saturday.
He said the decision was taken by the Board of Directors of the Jammu and Kashmir Bank.
The move will ensure greater transparency and accountability, the spokesman said here.
"J&K Bank Board of Directors today (Saturday) decided to bring the bank under the purview of CVC guidelines & J&K RTI Act-2009 to ensure greater transparency & accountability," he said.
On June 11, Chief Secretary B V R Subrahmanyam had said the bank has no choice but to be under RTI as it is a government-owned bank.
"It is registered under the companies act as a government company. By the end of June, the bank will be brought under the RTI and CVC guidelines," he said.
The decision comes days after Parvez Ahmed was removed as the Chairman of the J&K Bank for alleged corruption, nepotism and favouritism.