Yasha Mudgal sets target of bringing down NPAs to 6% for Cooperative Banks
JAMMU: Secretary, Co-operative Department, Yasha Mudgal today chaired a meeting to review the financial status of 34 branches of Anantnag Central Cooperative Bank (ACC Bank) and 35 branches of Baramulla Central Cooperative Bank(BCC Bank) at Civil Secretariat Jammu.
The meeting was attended by Registrar Cooperative Societies, J&K, Shafqat Iqbal; Additional Registrar Cooperative Societies Kashmir; Additional Registrar Cooperative Societies Jammu; Director Finance Cooperative Department; Additional Secretary Cooperative Department; Joint Director (PD&MD) Cooperative Department; Managing Director & CEO ACC Bank; Branch Heads and other concerned officials besides Kashmir based officers were present in the meeting through video conferencing.
At the outset, MD & CEO of ACC, BCC Banks, briefed branch-wise detail of the first quarter of the current financial year and highlighted issues discussed in previous meetings held on 22nd, 25th & 27th of July 2022 and also briefed about the achievements made by the banks against the targets allocated under Monitorable Action Plan (MAP) submitted for approval of the Government of Jammu & Kashmir.
The Secretary directed the MD to revise the MAP targets to make commensurate with the RBI guidelines. The MD was instructed to improve the bank parameters and bring down the NPAs level of all the branches to 6 percent and to increase the Credit Deposit (CD) Ratio to the mark of 70 percent by the end of the current financial year. She further stressed that Biometric attendance system be implemented in all branches, head office.
The Secretary also impressed upon the management that every branch of the bank should come with an operating profit at the end of the second quarter of the current financial year. She also desired to revise the targets allocated to the all branches of banks, improve the working culture of branches and focus on recovery of maximum amount of NPA cases to bring the banks back on rails.
The Secretary directed the MD of the Banks to initiate action and issue notices calling explanation of each employees who have not performed to the desired level & process their cases for disciplinary action. She asked the MD to prepare dossiers of all officials of the bank with reference to their performance for the last decade.
The Secretary said that cooperative objective goes deep into the realms of building the financial capabilities and self-confidence especially among the rural people. The Department functions in close co-operation and co-ordination with various other Departments connected with the implementation of various socioeconomic plans and schemes. She directed that microfinance loan sanction should be maximized so that rural people get benefitted from the cooperative movement.