Saturday, January 25, 2020

Navin chairs Jammu Central Cooperative Bank BoD meeting

TSL News Network

JAMMU, JAN 22: Principal Secretary Finance, Navin K Choudhary today asked Jammu Central Cooperative Bank (JCCB) to tide over its NPAs, while assuring full support for locating the state government employee defaulters.

Chairing the meeting of Board of Directors (BoD) of the Bank in capacity of its chairman, here today, Navin approved various recommendations of the Audit Committee of   the Bank, including disbanding of the office of District Officer and merger of non-viable branches with the nearest potential branch to cut down the administrative expenses. Presently the Bank has 89 branches in various parts of Jammu division.

The Board Directors of the Bank including, Deputy Commissioner, Jammu Ramesh Kumar, Secretary Cooperatives, Abdul Majid Bhat, Director Agriculture Jammu, H K Razdan, Additional Advocate General Seema Shekhar Khajuria, Chartered Accountant, Rakesh Gupta, Ex- Executive president J&K Bank Vagish Chander Sharma attended the meeting.

The meeting was informed that there are around 368 state government employee defaulters of the bank and their list   has already been furnished to the state authorities for action under the service rules, as directed by Principal Secretary Finance. 

The chairman asked the Bank to formulate a comprehensive report of NPAs and take measures to expedite recovery from the defaulters. 

The Board also asked the Bank to evaluate each loan case, with detailed mention of collateral possessions recorded at the time of sanction, before recommending it for one-time settlement to the executive committee.  It was informed that the bank’s one-time settlement window will remain open till March 31, 2019.

The Chairman set one-month deadline for   evaluation, processing and submission of loan cases for one-time settlement, but with proper certification by the concerned that the normal recovery is not possible. He said that the responsibility of sanctioning loan without proper security will be also fixed in the process.

The Chairman also gave a string of instructions to the management for improving the financial liquidity and improving the business of the Bank.

Member secretary of the Board and General Manager (Admin)of JCCB Mohammad Mushtaq and other staff also attended the meeting.


Please enter your comment!
Please enter your name here

Recent posts

Restoration of Broadband, 2G internet in J&K starting tomorrow

Pallavi Sareen Jammu, Jan 24: The Jammu and Kashmir administration issued orders late Friday instructing the restoration of broadband and 2G internet service in Kashmir...

Shri Mata Vaishno Devi Shrine Board to have Agarbattis from flower waste

Straightline News Network KATRA, Jan 24: Council of Scientific and Industrial Research (CSIR) - Central Institute of Medicinal and Aromatic Plants (CIMAP), Lucknow signed...

J&K suffered due to historical mistakes, economy suffered immensely: Anurag

Straightline News Network JAMMU, Jan 19: Union Minister of State for Finance and Corporate Affairs Anurag Thakur today said that Jammu and Kashmir has...

100 percent implementation of DDUGJY, PMDP in 252 Jammu villages

Straightline News Network DODA, Jan 19: Union Minister of State for Power, New & Renewable Energy, Skill Development and Entrepreneurship, Raj Kumar Singh today...

Rs. 25, 000 crore projects to be completed by year 2021 in J&K

Straightline News Network JAMMU, Jan 19: Central Government is committed on its promise for exemplary transformation on developmental front across Jammu and Kashmir after...