Srinagar, Feb. 13 -- The announcement of the liquidation of the J&K State Cooperative Agriculture and Rural Development (SCARD) Bank marks a turning point in cooperative banking in Jammu and Kashmir. For decades, the institution served as a financial lifeline for farmers, rural entrepreneurs, and small borrowers who often found themselves excluded from mainstream banking channels. Its closure, though framed as a legally compliant and structured process, raises pressing questions about the future of its employees, depositors, and borrowers.

At the heart of this decision lies a dual responsibility: ensuring that the interests of depositors and borrowers are protected, while also safeguarding the livelihoods of employees who dedicated their...