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| Bank recorded Rs 181.25 cr business last fiscal |
SRINAGAR JUNE 20: A review meeting of Jammu and
Kashmir State Cooperative Agriculture and Rural Development (SCARD) Bank was
held here today under the chairmanship of Minister for Co-operatives and Ladakh
Affairs, Chering Dorjay.
During the meeting, the Minister was briefed about the overall financial
position of the Bank, which has shown considerable improvements as compared to
previous years in almost all the financial indicators.
While interacting with the bank employees, the Minister applauded the
hard work of the officials and workers and asked them to work with added zeal
and honesty.
He stressed upon the need to improve the recovery portfolio so as to
further improve the financial position of the bank. He also reviewed the status
of court cases pending in various courts of Cooperative Department and gave on
the spot instructions for disposal of the cases in a time bound manner. He also
advised the Legal Section of the Bank to get the court cases pending in other
courts settled speedily and asked the bank management to convene meetings on
quarterly basis to get regular update on the working of bank branches.
He urged upon officers for quick and timely removal of bottlenecks in
the execution of Schemes, strengthening of bank network, and minimizing
inconvenience to the people and upliftment of farmers and particularly weaker
sections of the society.
The Minister asked the concerned officials to inspire more people
towards the departmental schemes as the Government is very keen to take
initiatives to improve and involve younger generation so that Department gets
indelible marks in every sphere of the society..
The Minister was apprised that the bank has increased its business in
deposits from Rs. 12.06 crore in 2011-12 to Rs 12.86 crore up to March 31,
2017. Similarly, the recoveries of the bank have increased from 31.67% during
2011-12 to 50.61% for the year of 2015-16. The meeting was further informed
that the total business of the bank as on 31st March,
2012 was Rs 27.99 crore which has now reached to Rs 181.25 crore as on March
31, 2017, witnessing growth of 547%.
Dorjay was briefed that the bank has cleared liabilities to the tune of
Rs 12.76 crore under the financial assistance of State Government, enabling the
bank to save two crore yearly interest. The bank has further released gratuity
and other post retire benefits to the employees under SRO 233 to the tune of Rs
two crore.
He further directed the concerned to make concerted measures so that
elections to choose SCARD bank board members are held to make the functioning
of the bank more vibrant in its approach.
Secretary Cooperative Bashir Ahmad Bhat, SCARD Bank District Managers of
Kashmir province alongwith other concerned senior officers attended the meeting.
Later, the Minister visited 3.50 kanal site at Bemina in Srinagar for
construction of proposed SCARD bank office.
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