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Bhat reviews performance of Cooperative Banks

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Launches mobile ATM vans of JKSCB

JAMMU, DECEMBER 18: Secretary Cooperatives, Abdul Majeed Bhat launched Mobile ATM Vans of J&K State Cooperative Bank (JKSCB) here today.

Chairman JKSCB, M S Dar, officers of the Bank and other concerned were present on the occasion.

The Secretary was informed that the vans have been procured with the financial assistance from NABARD and are being used as alternate banking channels in unbanked areas as well as in financial literacy campaigns.

Bhat expressed hope that such initiatives will help in strengthening the presence of the Bank.

Later, Secretary Cooperatives chaired a meeting to review the functioning of Cooperative Banks in the State.

The meeting was attended by Registrar Cooperatives Abdul Rehman Gassi, Chairman JKSCB M S Dar, MD JKSCB M Lateif, Additional MD JKSCB Shabana Buchh, CEOs of Anantnag Central Cooperative Bank and Baramulla Central Cooperative Bank besides other concerned.

Addressing the meeting, Bhat said the primary goal of Cooperative credit structure is to facilitate socio-economic uplift of the deprived strata of the society.

He said the role of cooperatives is paramount in improving the earnings and living standards of the rural populace. He stressed upon all to work tirelessly to transform the cooperative credit structure into a vibrant and efficient credit flow channel. He said the financial sector is undergoing rapid changes and cooperative banks have to seek viability and self-reliance in order to stay relevant.

The Chairman JKSCB apprised the Secretary and the Registrar Co-operative Societies about the working of the Bank and informed them that the Bank has succeeded in achieving 'A' categorization from NABARD and will soon be enlisted as Scheduled Bank by RBI.

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