Excelsior Correspondent
JAMMU, Sept 3: Secretary Cooperative Department of the Jammu and Kashmir, Yasha Mudgal today visited the Administrative Office of Citizens Cooperative Bank Ltd, Jammu and took stock of functioning of the bank besides interacting with the management.
Chairman of the Bank, Parveen Sharma along with his elected team of Directors of CCBL apprised the Secretary, Cooperative Department about constitution and working of the bank.
Chairman informed that it is the first and largest Urban Cooperative Bank of J&K catering to the financial needs of traders and public of Jammu Division. The bank having eleven branches and four extension counters provides banking services to its clients based on Core Banking Solutions.
Parveen Sharma apprised that the Bank has submitted a revised Action Plan to the Cooperative Department through the Registrar, Cooperative Societies, J&K and urged for infusion of Rs 20.00 crores by the Government of J&K to enable the Bank to achieve CRAR level of 9 percent to make the bank functional in usual manner.
Board of Directors of the Bank appealed to the Secretary Cooperative Department to take up with the Government the issue of capital infusion so that Bank is able to extend all the banking services freely to its clients and public of Jammu. Ravi Kant, Managing Director CCBL expressed gratitude to the Secretary Cooperative Department for having paid her visit to take stock of the affairs of the Bank.
Yasha Mudgal gave an assurance to the management of the Bank to take up the issue of capital infusion with the Government on priority and assured every cooperation from the Department of Cooperatives.
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