Jammu: Yasha Mudgal on Tuesday chaired a meeting to review the operational performance and financial functioning of The Urban Cooperative Bank Limited Anantnag and stressed the need for financial discipline, reduction in NPAs and accelerated digitisation.
The meeting was attended by the Financial Advisor, Cooperative Department; General Manager and CEO of Urban Cooperative Bank Anantnag; Assistant Registrar (Headquarters), Cooperative Societies J&K; branch heads and senior officers of the department.
During the meeting, the GM/CEO of the bank gave a detailed presentation on the institution’s financial position, covering deposits, advances, recovery performance, Non-Performing Assets (NPAs), profitability, Capital to Risk-Weighted Assets Ratio (CRAR), branch-wise performance and progress in digital banking initiatives.
Officials informed the meeting that the bank has maintained “A” grade audit classification since its inception and all branches are functioning on the Core Banking Solution (CBS) platform.
The bank management also informed that steps are underway to introduce advanced digital banking services, including completion of documentation with NPCI, sponsor banks and vendor agencies, besides carrying out Vulnerability Assessment and Penetration Testing (VAPT), Information Security audits and EDP audits in line with RBI guidelines.
Reviewing the financial indicators, Yasha Mudgal directed the management to adopt aggressive recovery measures to contain NPAs and prevent creation of fresh bad loans through close monitoring and prudent lending practices.
She also instructed the bank authorities to focus on reducing administrative expenses and rationalising operational costs to improve profitability and institutional sustainability.
The Commissioner Secretary stressed the importance of maintaining the CRAR within prescribed regulatory limits and directed strict adherence to RBI norms and financial discipline.
She further asked the management to expedite digitisation, strengthen cyber security infrastructure and complete all regulatory and technical formalities required for operationalising full-fledged digital banking services.
Yasha Mudgal also directed the General Manager to submit a proposal seeking government financial support in the form of enhanced share capital for technology upgradation, strengthening digital banking services, increasing paid-up capital and opening new branches to improve outreach and customer services.
She reiterated that cooperative banking institutions play a key role in strengthening the local economy and providing accessible financial services to the public and urged the management to work with professionalism, transparency and accountability for sustainable growth and public trust.
