Tag: Scheme

  • Delhi HC to pronounce judgement on petitions challenging Agnipath scheme on Feb 27

    Delhi HC to pronounce judgement on petitions challenging Agnipath scheme on Feb 27

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    New Delhi: The Delhi High Court on Friday said that it will pronounce its judgment on February 27 on three batches of pleas challenging the Centre’s Agnipath Scheme for recruitment in the armed forces.

    Batches of petitions have been filed challenging the scheme, its recruitment process, and appointment of candidates.

    The scheme, meant to recruit youth into the Indian Army for four years, will only keep 25 percent of the selected candidates after this period.

    A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad had reserved its order on December 15.

    The court had asked the lawyers to place on record their written submissions before vacations.

    The Centre had said that they will file an affidavit on role, responsibilities, and hierarchy of the Agniveers.

    The HC on December 14 questioned the Central government’s decision for different pay scale for Agniveers and regular sepoys (soldiers) in the Indian Army if their scope of work is the same.

    Representing the Centre, Additional Solicitor General Aishwarya Bhati had said that Agniveer is a different cadre from the regular one.

    In response, the same division bench had said: “Different cadre does not answer job profile, the question is work and responsibility.”

    “If the job profile is the same, then how do you justify different pay? A lot will depend on the job profile. Get instructions on this and put it on an affidavit,” the HC had added.

    Bhati had said that terms, conditions, and responsibilities of Agniveers are different from that of soldiers.

    “Agniveer cadre has been created as a separate cadre. It will not be counted as a regular service. After serving as an Agniveer for four years, if he or she volunteers and is found fit, then his journey in the regular cadre begins,” she had submitted.

    The Centre had said that this scheme was not hastily formulated, but with much study to enhance the morale of the youth and also skill mapping of Agniveers.

    The ASG had said that a lot has gone during the past two years into taking this decision like numerous internal and external consultations, several meetings and consultations have also been held with the stakeholders.

    Bhati had also argued that as Indian armed forces are the most professional armed forces in the world, they should be given much bigger leeway when they are taking such big policy decisions.

    With dozens of petitions being filed on the scheme, its introduction led to people protesting countrywide.

    Petitions were filed challenging the scheme, its recruitment process and appointment of candidates.

    With the scheme envisaging that only 25 per cent of the selected candidates will be retained, petitioners claimed that the rest 75 per cent candidates will be left jobless after four years and there is no plan B for them.

    “In six months, I have to develop physical endurance and learn to use these weapons. Six months is a very short time. We are going to compromise national security,” one of the petitioners who appeared had argued on December 12.

    Arguments were also raised about whether the four-year term that Agniveers serve, will be counted in their overall service once a quarter of them are commissioned into the forces.

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    ( With inputs from www.siasat.com )

  • JK Bank Finance Scheme For Children’s Check Features

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    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    FEATURES & BENEFITS

    • Monthly Installment          Rs. 100/- and its multiples.
    • Tenure                                  7, 9 and 10 years as recurring (Phase-I) and 5 , 7 and 10 years respectively as term deposit (Phase-II).
    • Interest rate                        Fixed. Interest rates as per the rates prevalent at the beginning of the respective phases.
    • Interest application             Quarterly compounded interest.
    • Interest payouts                 On maturity
    • Add- ons

    Accidental Insurance Cover for the Parent / Guardian (linked to the size of monthly deposit amount).

    • Premature withdrawal       Allowed with penalty.

    ELIGIBILITY

    • Minor through parents/guardian.
    • A person in his/her name.

    DOCUMENTATION

    • Application Form
    • Photograph of Parent/ Guardian/ depositor (2 copies)
    • Documents as  per KYC Norms(of Parent/ Guardian)
    • Minor’s birth certificate (for minors only)
    • Guardianship proof for Legal Guardian (Court Decree)(For minors only)
    • Minor Declaration signed by the Parent/Guardian( For minors only)
    • PAN Card or Form 60 or 61
    • Any other related documents as applicable to Minors.

    RATE OF INTEREST (SUBJECT TO CHANGE)

    Click here for rate of Interest

    FAQS

    • What is the eligibility for opening an account under Child-care Deposit Scheme 
      of J&K Bank?
      Accounts under this scheme can be opened in the name of minor jointly with Parents/ Guardian. Individuals can also open accounts under the scheme in their own names.
    • What is the amount of monthly installment required to be deposited in Phase-I?
      You can deposit a fixed monthly installment of Rs 100 and above in multiples of Rs 100.
    • What are the tenures for which the accounts can be opened?
      You can open an account for the following 3 tenures- 12, 16 ort 20 years, comprising of 7, 5, or 10 years of phase I which is in the nature of recurring deposait and 5, 7 or 10 years respectively of Phase II which is in the nature of Cash Certificate.
    • Is interest under this scheme applied on Simple or Compound basis?
      Interest compounded quarterly is provided under this scheme.
    • Can I withdraw my deposit prematurely?
      Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.
    • Is loan facility available against the deposit?
      Loan facility can be provided after deposit completes its first phase i.e. after entry into the 2nd phase, bank can allow loan not exceeding 90% of the amount accumulated at the time of first phase.

    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    The post JK Bank Finance Scheme For Children’s Check Features and Benefits appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • J&K Bank Solar Equipment Finance Scheme Check Eligibility

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    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    PURPOSE

    • For Purchase & Installation Of Off-Grid Solar Lighting & Photo –Voltaic Systems (Solar Inverters). The Finance Shall Be Granted For The Purchase Of The System From Authorized Dealers Of Reputed Companies.

    ELIGIBILITY

    • Confirmed Employees of: Government /Semi-Government Departments/Bodies/Agencies & Public Sector Undertakings.
    • Permanent Employees of Private Companies or Reputed Establishments with minimum 2 years association with the Current Employer and maintaining salary account with us.
    • Professionals, Self Employed Individuals & Businessmen with at least 2 years of experience in profession/business
    • Retired Govt. Employees with age not more than 70 years on maturity of loan.
    • Persons engaged in agricultural and allied activities.

    QUANTUM OF FINANCE

    • Individuals: 12 times net monthly salary/ pension / income.
      Persons engaged in agricultural and allied activities: Maximum of 2 times net annual income as certified by concerned Tehsildar.
    • The maximum quantum of finance shall not exceed Rs 50000.00

    MARGIN

    • Nil

    SECURITY

    • Primary
      Nil
    • Collateral
      Nil for Employees of J&K State Govt. / Central Govt. / Semi Govt. Departments/ Bodies/ Agencies and PSU’s maintaining salary accounts with our Bank.
    • For others- Third Party Guarantee of ONE person acceptable to Bank and having sufficient net worth to withstand the liability.

    PROCESSING CHARGES

    • Rs. 500.00 plus applicable GST.

    RATE OF INTEREST (SUBJECT TO CHANGE)

    • Fixed rate of interest @ 3 year MCLR plus 3 % with monthly rests.

    Click here for rate of Interest

    TENOR

    • Maximum Tenor of Loan shall not exceed 36 months.

    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    The post J&K Bank Solar Equipment Finance Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • JK Bank Loan Scheme For The Purchase Of New Cars

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    To provide finance for purchase of new cars/vans/jeep/SUV/MUV, fuel operated as well as electric cars, for Private Use only at:

    “Ex-Showroom” Prices

    OR

    “On Road Prices” wherever opted by Borrower(s) shall mean Ex-Showroom Prices plus:

    • One Time Registration Charges
    • First Insurance Premium
    • Cost of Accessories (should be limited to 10% of Ex-Showroom Price).

     

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    ( With inputs from : kashmirpublication.in )

  • JK Grameen Bank Home Loan Scheme Check Eligibility

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    Eligibility:

    a) A permanent employee working in Govt. / Semi-Govt. / Public Sector undertaking/ Autonomous Bodies having completed minimum 2 years of confirmed service as on date of application. The employee should be maintaining his/ her salary or saving bank account with the Bank or maintaining his salary account with other Bank.
    b) Employees of Reputed Companies with a minimum of 3 years of service.
    (c) Central/ State Govt. Pensioners, except family pensioners, drawing their monthly pension from our bank whose spouse is alive and is eligible for family pension.
    (d) Farmers/ Orchardist/ Business-men/ Traders/ Contractors with a minimum standing of two years.
    (e) Professionals & Self Employed Persons like Doctors/ Engineers/ Architects/ Chartered Accountants/ Advocates etc. with a minimum standing of 2 years.


    2) Age of the Applicant:

    • Minimum : 18 years
    • Maximum:
      a) For salaried employees the loan repayment period shall be adjusted in such a way that the loan along with interest is adjusted atleast six months prior to the date of retirement.
      b) For pensioners the loan sanctioned will be fully repaid by the time pensioner attains the age of 70 years.
      c) For others, the maximum age at loan maturity shall be 65 years
      (Actual loan amount will be determined taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house etc.)

    3) Quantum of Loan:

    For the purpose of working out of loan assistance, Project cost shall be estimated on realistic basis at current cost of construction/ valuation in case of readymade houses from qualified approved engineers. The maximum loan that can be considered for sanction under direct finance housing as under:

    • i) For construction/ purchase of built House/ flat-
      60 months net salary/ income or Rs. 30.00 lacs whichever is lower. For pensioners, the maximum eligible loan amount shall be 36 times the gross monthly pension.
    • ii) For repairs/ renovation/ extension/ addition-
      30 months net salary/ income or Rs.15.00 lacs, whichever is lower.
    • iii) For purchase of a plot of land for construction of dwelling house:
      30 months net salary/ income or Rs. 12.00 lacs whichever is lower. Maximum size of plot of land to be purchased shall not exceed 1 kanal.

    Loan cases over and above Rs.30.00 lacs can also be entertained after obtaining proper permission from Head Office

    Branches may extend finance to a person who already owns a house in town/village where he resides, for buying/ constructing a second house in the same or other town/ village for the purpose of self occupation.


    4) Margin:

    25% of the project cost.


    5) Security:

    For loans upto Rs.2.00 lacs:
    Primary: Negative Lien on house property with power of attorney to sell the same in case of default.
    Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for the loan amount.

    For loans above Rs.2.00 lacs:
    Primary: Mortgage of the house/ property to be constructed/ purchased along-with the land underneath and appurtenant thereto it.
    Collateral: Third party guarantee of one person of sound financial net means, acceptable to the Bank and good for loan amount.


    6) Repayment Period:

    The loan along-with interest at prevailing rate shall be repayable in 5 Years to 20 years in equal monthly installments after the moratorium period.

    In case of salaried employees, the repayment period shall be fixed in a manner that the entire principal amount along with interest is liquidated six months prior to the date of his/ her retirement within the maximum repayment period of 20 years. Moreover, it shall be discretion of the borrower to repay the loan in shorter period with larger sums or pay installments even during the moratorium period. For pensioners repayment period shall be 10 years or till the pensioner attains the age of 70 years whichever is earlier.


    7) Processing Charges:

    0.25% of the Loan Amount
    50% of Concession in Processing Charges for Female Borrowers (Site/Joint Borrowers)

    * Conditions Apply

    101A5467 A2A0 4004 AF97 D04D6096DCF0

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    ( With inputs from : kashmirpublication.in )

  • J&K Bank Modular Kitchen Finance Scheme Check Eligibility

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    8CD48D48 ABD0 42B0 B676 826001EE32BC

    NATURE OF THE FACILITY

    • Term loan.

    PURPOSE

    • Purchase of Modern Modular Kitchen.

    ELIGIBILITY

    • Permanent  employees (minimum service record of 3 years)  of  Govt  (State  &  Central)  ,  Semi  Govt Departments, Public Sector Undertakings, Autonomous Bodies and reputed Public / Private limited companies..
    • Professionals/Self Employed like Doctors, Lawyers, Chartered Accountants, Engineers with a minimum standing of 2 years.
    • Pensioners (State/Central) drawing pension through our bank.
    • Minimum age: 18 years.
    • Maximum age at loan maturity: 60 years for professionals/Self Employed, 65 years for pensioners.
    • In case of Govt employees, loan should be adjusted one month before the date of retirement.

    SCALE OF FINANCE

    • Maximum: rupee 5 lakh or 60 months net income or 80% of the cost of the modular kitchen, whichever is lower.
    • For Govt. employees gross deductions should not exceed 60% of gross salary while as for others deductions should not exceed 50% of gross income.

    MARGIN

    • 20%

    SECURITY

    • Primary: Hypothecation of items purchased.
    • Collateral:
    • Third Party Guarantee of one person of sufficient net worth for all categories.
    • For pensioners, guarantee of spouse eligible for family pension.
    • No third party guarantee required for Union Territories of J&K and Ladakh Government employees drawing monthly salary through our Business units and who provides letter of confirmation from their DDOs. Where Letter of confirmation is not available 3rd party guarantee of one person of sound means.
    • No third party guarantee in case of the Fixed Deposit holders having term deposits in the Business unit equal to 100% of the loan amount or pledge NSC, Insurance Policies or other Govt Securities of equivalent value. The fixed deposit/security shall remain under lien to the Bank till adjustment of loan.

    PROCESSING CHARGES

    • 0.5% of the amount disbursed.

    REPAYMENT

    • Upto rupee 2,50,000: 72 months.
    • Above rupee 2,50,000: 84 months.

    PREPAYMENT

    • No penalty on prepayment.

    RATE OF INTEREST (SUBJECT TO CHANGE)

    • For state Govt. Employees & Pensioners (State/Central) : Applicable MCLR + 3.00% p.a fixed with monthly rests.
    • For others: Applicable MCLR + 3.50% p.a. fixed with monthly rests.

    Click here for rate of Interest

    8CD48D48 ABD0 42B0 B676 826001EE32BC

    The post J&K Bank Modular Kitchen Finance Scheme Check Eligibility and Rate of interest appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • J&K Bank Kissan Credit Card Scheme Check Features

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    To provide adequate and timely credit to farmers under single window, with flexible and simplified procedure, adopting whole farm approach, including the short-term credit, medium term and long term credit needs of the borrowers for agriculture and allied activities and a reasonable component for consumption needs as indicated below:-
    Short Term Credit Limit:
    • To meet the short term credit requirements for cultivation of crops
    • Post harvest expenses
    • Produce marketing loan
    • Consumption requirements of farmers household.
    • Working capital for maintenance of farm assets and activities allied to agriculture, like dairy animals, inland fishery etc.

    Long Term Credit:
    • Investment credit requirement for agriculture and allied activities like pump sets, sprayers, tillers, agri implements, dairy animals, sheep, poultry etc.

    KCC Scheme also includes the crop loans under Apple Advance Scheme

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    ( With inputs from : kashmirpublication.in )

  • J&K Bank Cash Credit Scheme (Salaried Employees)

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    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    NAME OF THE PRODUCT

    J&K Bank Cash Credit Scheme

    PURPOSE

    The product is aimed at addressing the cyclic liquidity needs of salaried employees.

    ELGIBILITY

    Permanent Employees of Central Government, and State Government / Semi-Government Undertakings & Autonomous Bodies drawing salary from our Bank.

    CLASSIFICATION

    • Non-Priority

    NATURE OF THE FACILITY / QUANTUM / REPAYMENT

    • The facility shall be revolving in nature up to 8 years before the age of retirement of the employee*. The drawing power (DP) will thereafter be reduced on borrower’s birthday every year on pro-rata basis by reducing the principal amount so that the facility gets adjusted by 1 year before the age of retirement. The annual reduction can be spread over four quarters.The interest will be serviced by the borrower as and when applied.
    • Under this scheme, the credit facility can be sanctioned in favor of employees who is nearing his/her date of retirement. However the facility will be sanctioned on drop line limit basis as under:
    Remaining ServiceMaximum Limit
    Up to 8 years6 times salary credited in the account or Rs. 6.00 Lakh, whichever is lower
    7 years5 times salary credited in the account or Rs. 5.00 Lakh, whichever is lower
    6 years4 times salary credited in the account or Rs. 4.00 Lakh, whichever is lower
    5 years3 times salary credited in the account or Rs. 3.00 Lakh, whichever is lower
    4 years2 times salary credited in the account or Rs. 2.00 Lakh, whichever is lower
    3 yearsequal to salary credited in the account or Rs. 1.00 Lakh, whichever is lower

    Quantum of finance:

    • Minimum: Rs. 50,000.00
    • Maximum : 6 times average of previous three month’s salary credited in the account; or Rs. 6, 00,000.00 whichever is lower.

    * The scheme is customized for all retirement age brackets that are in vogue in the Government service sector i.e. 60, 62 and 65 years.

    REPAYING CAPACITY

    • Stipulation of minimum take home salary shall not be insisted for this loan scheme, however the Interest outgo/ payable in this loan scheme shall be added to deduction for granting loan (s) under other schemes of the bank.

    AGE OF THE APPLICANT

    • Minimum age of Applicant: 21 years.
    • Maximum at the time of loan Maturity: One year before the age of retirement.

    REPAYING CAPACITY

    • Stipulation of minimum take home salary of 40% shall not be insisted for this loan scheme, however the Interest outgo/ payable in this loan scheme shall be added to deduction for granting loan (s) under other schemes of the bank.

    MARGIN

    • NIL

    SECURITY

    • Primary: NIL
    • Collateral: NIL

    PROCESSING CHARGE

    • 0.25% of the loan amount plus GST,
      • Minimum of Rs. 500.00 plus GST.
      • Maximum of Rs. 1000.00 plus GST.

    RATE OF INTEREST (SUBJECT TO CHANGE)

    • 1 year MCLR+3.50 p.a. fixed Rate of Interest with monthly rests and Annual Reset.

    Click here for rate of Interest

    PRE-PAYMENT

    • No penalty on prepayment or / and foreclosure of the loan.

    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    The post J&K Bank Cash Credit Scheme (Salaried Employees) Check Features and Benefits appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • JK Bank Personal Consumption Loan Scheme Check Eligibility

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    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    NATURE OF FACILITY

    • Term Loan.

    PURPOSE

    • For any Personal need.

    SCALE OF FINANCE

    • Minimum: Rs. 50000.00
      Maximum: For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank: 42 X Monthly Gross Salary
      For employees of Govt not maintaining salary account with J&K Bank: 24 X Monthly Gross Salary or Rs 15.00 lacs, whichever is lower.
      For employees of other reputed institutions/ Corporate Houses maintaining salary account with J&K Bank: 30 X Monthly Gross Salary or Rs 25.00 lacs, whichever is lower

    ELIGIBILITY

    1. Permanent Employees of
      • Government (State/Central/ Union Territories).
      • Public Sector Undertakings,
      • Autonomous Bodies & Institutions of Government
      • Govt. Employees (J&K and Ladakh only) recruited under SRO 202 with minimum service of 18 months. Note: Employees of State Govt/Central Govt/ UT Govt, PSUs, Autonomous Bodies & Institutions of Government not maintaining salary account with J&K Bank shall also be eligible.
    2. Permanent Employees of Reputed Institutions banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account.
    3. Permanent Employees of Corporate Houses banking with J&K Bank. Only those regular/ permanent employees shall be eligible who are maintaining their salary accounts with J&K Bank and/or will shift existing salary accounts to J&K Bank with at least one salary received in that account provided:
      1. These corporate houses have a minimum business of Rs 5.00 crore (Advances+ Deposits) with the branch/bank.
      2. Concerned Zonal offices will identify such corporate houses and permit the respective branches under their jurisdiction to grant personal consumption Loans to their regular employees.
      3. For branches operating outside J&K and Ladakh UTs, such loans shall be granted only to those regular employees of corporate customers who are permanent residents of periphery of the branch, otherwise such loans shall be additionally guaranteed by the employer.

    SECURITY

    • For permanent employees of Govt, PSUs, Institutions and Autonomous Bodies of Govt maintaining salary account with J&K Bank:
      • NIL
    • For all Others:
      • 3 rd party Guarantee of Two persons having individual net worth of at least 200% of loan amount

    MARGIN

    • NIL

    RATE OF INTEREST (SUBJECT TO CHANGE)

    • Employees maintaining salary account with the bank: MCLR 3Y+3.00%
    • Employees not maintaining salary account with the bank: MCLR 3Y+4.00%

    Click here for rate of Interest

    REPAYMENT PERIOD

    • The maximum repayment period shall be 120 months with the repayment commencing next month of disbursement.
    • Important to note that repayment is to be fixed in such a way that loan shall be fully adjusted by or before employee retires from active service.

    PROCESSING CHARGES

    • NIL

    F112F5FA 168C 4ADB 9222 DB1B840B9CF4

    The post JK Bank Personal Consumption Loan Scheme Check Eligibility and Rate of Interest appeared first on Kashmir Publication.

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    ( With inputs from : kashmirpublication.in )

  • Congress MLAs in Haryana marches to Assembly over old pension scheme

    Congress MLAs in Haryana marches to Assembly over old pension scheme

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    Chandigarh: Congress MLAs in Haryana on Tuesday marched to the Vidhan Sabha under the leadership of former Chief Minister and Leader of Opposition Bhupinder Singh Hooda to support the demand of government employees for restoration of old pension scheme (OPS).

    The MLAs also raised issues concerning the public and highlighted the ‘failures’ of the BJP-JJP government in the state.

    The party’s state unit chief Chaudhary Udaibhan specially joined the march.

    “Unemployment, corruption, crime, inflation and atrocities are at their peak in the state. The government uses lathi-charge on the people raising their demands in a democratic way,” Hooda said.

    “This government lathi-charged first the farmers, then the youth, then the employees and then elected representatives of the panchayats. The Congress is committed to raise its voice against such undemocratic actions of the state government, both on the streets and in the House,” he added.

    Hooda said today Haryana is facing maximum unemployment in the country.

    “About two lakh posts are lying vacant in government departments. Amid all scams and paper leaks, even in the isolated recruitments, people from other states are being selected instead of those from Haryana,” he said.

    Citing the example of the latest recruitment of technical lecturers, Hooda said out of 157 general category candidates, about 100 from other states were selected.

    “While all state governments give priority to the natives in recruitments, the BJP-JJP government in Haryana is sometimes giving preference to people from other states. In such a situation, where would the youth of Haryana go,” Hooda asked.

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    ( With inputs from www.siasat.com )