High-Powered-Committee-headed-by-CS-to-monitor-progress-of-these-banks
SRINAGAR
AUGUST 10: Minister for Cooperatives and
Ladakh Affairs, Chering Dorjay today said that the State Cabinet’s decision to
revive three unlicensed District Central Cooperative Banks (DCCBs) of the State
in Jammu, Baramulla, and Anantnag would benefit farmers and the decision will
be implemented within the stipulated time.
The Minister
said that the State Government has already signed an MOU with Union Government,
Reserve Bank of India (RBI) and NABARD, which stipulates that ‘Corporate
Governance Systems’ should be put in place in all the Central Cooperative Banks
(CCB). He said the Cabinet has decided to constitute a High Powered Committee
under the chairmanship of the Chief Secretary which will monitor, overlook, and
evaluate the progress of these banks.
Dorjay said
that the revival of the DCCBs will enhance the worth of the Department and will
benefit particularly the farmers.
“It is the
time when we need to redouble our efforts and nurture the Department by
actively participating in conceptualizing the schemes and to take up viable
income generating cooperative works in a democratic manner for the welfare of
the people” he added.
The Minister
said that the Cooperative Department is pivotal in enhancing the socio-economic
profile of people of the State.
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