Excelsior Correspondent
JAMMU, Nov 9: Department of Cooperative Bank Supervision (DCBS), RBI, Jammu today conducted the 17th meeting of the Task Force on unlicensed District Central Cooperative Banks (DCCBs) in J&K, in the Conference Hall of Reserve Bank of India (RBI), Jammu to review the financial performance of the DCCBs as well as J&K Cooperative Banks (JKCBs).
NK Sahu, Regional Director, RBI J&K, presided over the meeting. Vijay Kumar, CGM, NABARD Jammu; Additional Secretary, J&K Co-operative Department; Deputy Secretary, J&K Finance Department; MD/CEOs of the three DCCBs and JKCBs viz. Jammu Central Cooperative Bank Ltd (JCCB), Jammu; Baramulla Central Cooperative Bank Ltd (BCCB), Baramulla; Anantnag Central Cooperative Bank Ltd (ACCB), Anantnag; J&K State Cooperative Bank Ltd, Srinagar along with officers of NABARD and DCBS, RBI Jammu participated in the meeting.
The financial performance of the DCCBs/JKCBs was reviewed in the meeting. The other important issues relating to capital infusion in the three DCCBs, adherence to KYC/AML guidelines by DCCBs, etc were also discussed.
NK Sahu, Regional Director, highlighted the importance of rural cooperative banks in rural development and employment generation in the State. He expressed concern on the weak financial position of these banks and emphasized on strengthening these banks for the growth of cooperative sector in J&K.
The CGM of NABARD emphasized that these banks must take immediate steps for improving their management and internal control systems and make vigorous efforts for reduction of NPAs while the Additional Secretary, Coope-rative Department stated that steps have been initiated for infusion of capital in the three DCCBs.
The meeting concluded with vote of thanks by PK Jain, DGM, RBI.
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