Efforts on for revitalization of CCBs : Rather

By
Daily Excelsior
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Excelsior Correspondent
JAMMU, Mar 3: A high level meeting chaired by the Minister for Finance and Ladakh Affairs, Ab. Rahim Rather today discussed ways and means to improve the functioning of three Central Cooperative Banks viz. Jammu Central Cooperative Bank (JCCB), Baramulla Central Cooperative Bank (BCCB) and the Anantnag Central Cooperative Bank (ACCB) and enable these financial institutions to achieve the Capital to Risk Weighed Assets Ration (CRAR) of 4% fixed by the Reserve Bank of India (RBI).
The Minister for Planning & Development, Ajay Kumar Sadhotra, Minister of State (I/C) Cooperative, Dr. Mahohar Lal Sharma were also present.
Besides the Chief Secretary, Mohammad Iqbal Khandey, Principal Secretary to Planning & Development Department, B.R. Sharma, Principal Secretary Finance B.B. Vyas, Secretary Cooperative R. K. Kaul, Chief Consultant Finance, Ravi Magotra and Registrar Cooperative were also present.
The meeting discussed threadbare various possible measures required for re-captilization of these banks as per the guidelines of the RBI. Worthwhile to mention that RBI has set deadline for these bank to achieve 4% CRAR required for issuance of banking licences.
Speaking on the occasion, Mr. Rather envolved upon the concerned authorities to prepare a realistic and practicable road map to improve the health of these banks, adding that all the available options and resources need to be explored optimally in this regard. Mr. Rather also enjoyed upon the management of these banks to improve the recovery portfolio, reduce administrative expenses and NPAs.
It was decided in the meeting that the Chief Minister will be requested to intervene and prevail upon the RBI Governor to help the State in this regard. Efforts will also be made to seek further extension to the deadline from RBI for attaining criteria of CRAR. The State Government will on its part explore the possibility of capital infusion to restore the health these banks. The provision of soft loans from the RBI will also be explored.

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