Excelsior Correspondent
JAMMU, June 13: The Citizen Cooperative Bank (CCB) today claimed that the deposits and advances on the Bank are to the order of Rs 32217.19 lacs and Rs 16664.29 lacs respectively registering a growth of 3.11 percent and 16.54 percent respectively.
In a statement issued here, today the Bank said that its CD ratio has increased from 45.62 percent to 51.56 percent during the financial year 2014-15.
It said the Share Capital of the Bank too increased from Rs 707.47 lacs to Rs 934.67 lacs thus registering a growth of 31.11 percent which is the highest ever in the history of the Bank during the elected Board of Directors under chairmanship of Dinesh Gupta.
The handout said to streamline the working of the Bank and to support its Chief Executive, the post of General Manager was created by the Board of Directors in their meeting and to fill up the post of GM, Department Promotion Committee (DPC) was also constituted.
The report of DPC was considered by the Board of Directors in their meeting in which all the directors were present and promotion of post of General Manager was approved by the Board of Directors in one voice. The GM is subordinate to MD and is directly working under him.
It said the Citizen Cooperative Bank is the first Urban Cooperative Bank of the State which was registered with the Registrar of Cooperative Societies J&K Jammu on March 4, 1978 and was issued license by RBI to commerce baking business under Section 22 of the Banking Regulation Act 1949 and August 4, 1978.
Admitting that the accumulated losses of the Bank are to the tune of Rs 971.31 lacs it said these are because of providing of provisions on NPAs since the inception of bank computerization of all its branches under core banking solutions and their renovation.
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