JAMMU: Commissioner Secretary, Cooperative Department, Yasha Mudgal has directed the Baramulla Central Cooperative Bank Limited (BCCB) to intensify recovery of non-performing assets (NPAs), strengthen loan assessment procedures and improve financial discipline as part of efforts to revive the bank.
The directions were issued during the bank’s fifth Annual General Meeting (AGM), chaired by Mudgal in her capacity as Chairperson of the Professional Board of Directors. The meeting reviewed the bank’s functioning and measures required to improve asset quality and restore public confidence.
During the statutory proceedings, the AGM unanimously adopted the bank’s audited financial statements, including balance sheets and profit and loss accounts, for the financial years ended March 31, 2025, and March 31, 2026. It also ratified the appointment of M/s IMT & Company, Chartered Accountants, as statutory auditor for 2026-27, as approved by the Reserve Bank of India (RBI).
Mudgal called for a time-bound recovery strategy with clear branch-wise targets, stronger field-level monitoring and accountability at every level. She directed the management to review overdue accounts borrower-wise and prepare specific recovery plans for chronic defaulters, including legal and administrative action wherever warranted.
She also asked the bank to strengthen credit appraisal and pre-disbursement assessments, improve post-disbursement monitoring and address shortcomings in loan underwriting to prevent further deterioration in asset quality.
Emphasising the role of Primary Agricultural Cooperative Societies (PACS) in the cooperative credit network, Mudgal called for closer coordination with all 92 societies to improve field-level follow-up and loan recovery.
The chairperson further stressed prudent resource management, control over administrative expenditure and strict compliance with applicable RBI guidelines and prudential norms. She said the bank’s revival would depend on transparent functioning, disciplined implementation and measurable results.
BCCB Managing Director and Chief Executive Officer Dr Khalid Hussain presented an overview of the bank’s functioning and highlighted the role of PACS in strengthening cooperative credit at the grassroots level.
The meeting was attended by the Additional Deputy Commissioner Baramulla, members of the Professional Board of Directors, Director Horticulture Kashmir, senior departmental officers and representatives of PACS.