JAMMU: Secretary Cooperative, Babila Rakwal, visited the Citizens’ Cooperative Bank and Jammu Central Cooperative Bank to assess the operational efficiency and systems, financial strength and contributions in promoting financial inclusion and cooperative values.
During the visit to the Citizen’s Cooperative bank, the Secretary accompanied by the Joint Registrar (Banking and Finance) Rakesh Dubey and Deputy Registrar Jammu Bhumika Sharma, interacted with the Chairman Parveen Sharma and other members of the Board and discussed the bank’s ongoing initiatives and strategies for enhancing financial services for its customers. She praised the bank’s commitment towards fostering economic growth through cooperative principles.
“I appreciate the way the Citizens’ Cooperative Bank provides services to its clients at par with any other nationalized or private sector bank. The main aim of the bank, however, should remain aligned with the principles of economic growth through cooperation. The bank should further strengthen itself financially also to safeguard the interests of the large number of shareholders of the bank,” maintained Babila Rakwal.
Pertinently, the Citizens’ Cooperative Bank Limited is the largest and oldest Urban Cooperative Bank of Jammu and has been at the forefront of empowering individuals and businesses through its cooperative banking model, facilitating financial literacy programs, and offering tailor-made banking solutions to cater to the diverse needs of its clients since 1978.
Parveen Kumar Sharma apprised the Secretary of various issues the bank is facing in the smooth delivery of services to the targeted clients. “The Board shall remain dedicated to fostering economic prosperity and financial well-being of our members,” he added.
Babila Rakwal also conducted a section-wise tour of the Head Office and assessed the working and systems. She emphasised the need for capacity building of human assets of the bank so that they are able to handle the banking activities efficiently in times to come. She assured full cooperation in resolving various pending issues at the Department’s end.
The members of the Board who were present on the occasion were Bharat Bhushan Gupta, Kuldeep Raj Gupta, Sumant Singh Jamwal, Varinder Singh Jamwal, CA Joginder Singh and Sunil Gupta besides Ravi Kant, Managing Director of the Bank.
Later, the Secretary visited the headquarters of the Jammu Central Cooperative Bank.
Administrator of the Bank, Rakesh Dubey and Managing Director, Sultan Mirza were present on the occasion.
She also visited various sections of the bank and interacted with the staff. She directed the Administrator to expedite the implementation of CBS in the Bank as early as possible so that the institution could come at par with other financial institutions in the industry.
