Excelsior Correspondent
SRINAGAR, Oct 29: A review meeting of J&K State Co-operative Agriculture and Rural Development Bank was held by Ramesh Kumar Koul, Secretary to Government, Co-operatives Department here today.
The Managing Director briefed the Secretary Co-operatives about the overall financial position of the Bank, which has shown considerable improvements as compared to previous years in almost all the financial indicators. The Secretary Co-operatives discussed various issues with the senior officers of the Bank one by one and gave them a patient hearing.
It was revealed in the meeting that the business of the Bank in Deposits and Lending has increased from Rs. 12.00 crore in 2011-12 to Rs. 41.00 crore by ending September 2014 and from Rs. 6.00 crore to Rs.10.00 crore respectively and is expected to double by ending March, 2015. Similarly, the Recoveries of the Bank have increased from Rs. 4.57 crore during 2012-13 to Rs. 6.01 crore as on June 30, 2014.
The Secretary Co-operatives stressed upon the need to improve the Recovery portfolio so as to further improve the financial position of the Bank. He also reviewed the status of court cases pending in various courts of Co-operative Department and gave on the spot instructions for disposal of these cases in a time bound manner. He also advised the Legal Section of the Bank to get the court cases pending in other courts settled speedily. He also asked the management of the Bank to convene meetings of the Bank branches on a quarterly basis in future.
The targets and achievements with regard to Recovery, Deposits and Lending were also reviewed individually with the District Managers and various valuable suggestions were given to them to ensure achievement of the targets fixed.
The meeting was also attended by Special Secretary to Govt. Co-operative Department, Deputy Secretary to Govt. Co- operative Department, all District Managers of J&K SCARD Bank of Kashmir province and other senior officers of the Bank of Kashmir province.
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