Excelsior Correspondent
JAMMU, Oct 9: The Jammu Central Cooperative Bank Limited (JCCBL) today claimed improvement in the functioning of bank and resolution of HR issues in the last two years.
“The Bank’s net profit has started showing upward trends as it was making a loss of Rs 12.40 crores till March 2021. However at the end of FY 2022-23, the bank registered a profit of Rs 0.28 crores, after a gap of three decades,” said the JCCB employees and officers , while addressing a press conference, here today.
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They informed that the Bank had issued Rs 26.60 crores loans till March, 2021, which rose to a whopping Rs 81.28 crores in March, 2023 and now a whopping Rs 82.40 crores in the first 6 months of the current Financial Year 2023-2024.
Further, they added, the Investment figures in the last two years have also increased handsomely from Rs 856.20 crores on March, 2021 to Rs 1015.61 crores on September 2023.
“The recovery of NPAs has been exceptional. The NPAs slashed from Rs 110.00 crores (37 percent) in March 2021 to Rs 81.00 crores (29 percent ) in March 2023 and to Rs 72.00 crores in September 2023,” they said and gave all credit for these achievements to the stewardship of Yasha Mudgal, Commissioner Secretary, Cooperative Department J&K, who is also Chairperson JCCB.
Pertinently, the amount recovered from the NPA has been kept for making the bank CBS compliant which is one of the prerequisites for RBI license. The Bank has affected recovery of Rs three crores from the defaulted Primary Agriculture Societies with the help of Cooperative Department Officers (DRs and ARs).
The employees further highlighted that due to the best efforts of the Commissioner Secretary, the Bank has taken a major technological transformation and started Core Banking Solution Transformation Project, which is likely to be commissioned during the current financial year.
They further highlighted that all the issues related to Human Resources which were pending since long, have been resolved by the Chairperson. These include appointment under compassionate grounds , enhancement of retirement cum death Gratuity from Rs 10.00 Lakh to Rs 20.00 Lakh with retro respective effect, Re-Structuring of Salary Structure, release of pending Increments / DA etc.
The press conference was attended by Reeta Sharma (DEM), Sonal Bakshi (AEM), Ravi Bajaj (AEM), Rajiv Gupta, Chief Manager (Technical Officer to CEO & MD), Sunil Sehgal, Chief Manager(BDD), Rakesh Jagotra, Chief Manager (Law), Hardeep Singh, Manager (HRD), Sandeep Raina (Principal Officer) and other officers of the Bank.
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