Advisors to Governor K.K. Sharma and Khurshid Ahmad Ganai today reviewed the functioning of Jammu Central Cooperative Bank (JCCB).
The meeting was also attended by Financial Commissioner Finance Dr Arun Mehta, Secretary Cooperatives, Abdul Majid Bhat, and Managing Director JCCB.
The Advisors while reviewing functioning of the Bank directed creating new avenues for improving the financial and fiscal working of the Bank so that the aspiring entrepreneurs and businessmen get benefitted through its services. They also directed conducting regular meetings in order to assess the quantum of loans being given and also the status of NPAs.
The Advisors also directed taking measures to redress the human resource issues of the employees working in the Bank by holding regular board meetings so that various policy decisions can be worked out for better functioning of the Bank as well as settlement of other related issues. The Bank should also be vibrant to the new practices being adopted in the sector besides being consumer friendly as it is an important medium for strengthening the cooperative movement in J&K.
It was also directed in the meeting that the Bank should come up with a comprehensive proposal with respect to the future course of action for working out the NPAs and extending banking services to the prospective customers.
The meeting was told that the Bank is having Rs 1508.29 crore as deposits as on 31st March, 2019 and advances to the extent of Rs 354.98 crore have been extended as on March 2019. Similarly, the recoveries of principal loans for the demand year 2017-18 stood at 54 per cent in 2018-19.