Excelsior Correspondent
JAMMU, Nov 14: Urging for utilization of available resources in a planned manner, the Minister of State for Cooperative, Finance and Planning Dr Manohar Lal Sharma asked the functionaries of Jammu Central Cooperative Bank (JCCB) to intensify the recovery mechanism for improving the financial health of the Institution, imperative for sustaining in present competitive market.
The Minister said that in order to bring more efficiency in the working of the bank all the branches of Central Cooperative Bank would be computerized in a phased manner by way of introducing core banking solution in the organization.
The Minister was speaking at a function organized by Jammu Central Cooperative Bank in connection with 60th Week Cooperative Celebrations-2013 here today.
After inaugurating the week, the Cooperative Minister said that despite limited resources the Government is doing its best to help the bank in improving its financial health, adding that the financial support extended to it is yielding encouraging results. He said efforts are on to help other cooperative societies to make them more profitable. He said that revival plan of Srinagar and Jammu Super Markets besides JAKFED are showing better results and all the organization are running in profit.
The Minister asked concerned to take necessary steps so that liabilities accumulated are reduced. He asked authorities of the bank to maintain close look on liability clearance and review it quarterly. He said business of about Rs 1300 crore shows that people have faith on the bank and asked the concerned to come up to the expectations of the customers.
Giving details of the achievements, the Chairman of the bank, Mohinder Singh said that the business of the bank has touched to Rs. 1295.14 crore with 3.80 lakh account holders. He said that the bank has disbursed Rs. 63.70 crore among 33281 Kissan Card Holders of Jammu division while Rs 395.54 crore have been advanced so far. He said Rs. 11 crore stands advanced under Farm Sector and Rs. 56.57 crore under Non-Farm sector so far during current fiscal.
Chairman said that 89 branches and 16 extension counters are working in 10 districts of Jammu division, adding that bank has recovered Rs 106.71 crore against the target of Rs 84 crore by ending June this year. He said the bank has earned a profit of Rs 7 crore during last fiscal.
Registrar Cooperatives, Special Secretary Cooperatives, MD, SFC, MD, JAKFED, Chief General Manager, NABARD, Additional Registrar Cooperative Jammu, besides Board of Directors of the Bank and Chairman, Cooperative Societies Union were present and spoke on the occasion.
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