Secy Cooperatives reviews financial status of 85 branches of JCC Bank

JAMMU, JULY 27: Secretary Cooperative Department, Yasha Mudgal today chaired a meeting to review the financial status of 85 branches of Jammu Central Cooperative (JCC) Bank here.

The meeting was attended by Registrar Cooperative Societies, J&K Shafqat Iqbal; Additional RCS Jammu, Director Finance Cooperative Department, Additional Secretary Cooperative Department, MD & CEO JCC Bank, Branch Heads of JCC Bank and other concerned officials both in person and through video conferencing.

Addressing the meeting, the Secretary impressed upon the Bank management to improve the parameters and reduce NPAs by marking recovery against NPAs above the targets allocated. She directed the MD & CEO of the Bank to initiate stern action and issue notices for explanation against the non performing employees and also come up with the progress report of the Branch Heads so that the APRs of each employee are scrutinized and the non- performers are weeded out.

The Secretary also delved on the MD to have the monthly performance of the employees /branches in person and monitor the achievements closely against each parameter. She also fixed the bench mark for all branches to improve their Credit Deposit (CD) Ratio to the mark of more than 60% and bring down to NPAs level of the branches to 6%.

The Secretary also impressed upon the bank management that every branch of the bank should come up with an operating profit at the end of the second quarter of the current financial year. She also appreciated the role of the MD for making a strategic change in the work culture of the bank and desired more form his services.

During the meeting, the MD & CEO appraised the meeting about the achievements made by the bank against the targets allocated. The MD also sought support of the Registrar Cooperatives to recover loans defaulted with different PACSs for which the bank would be launching recovery camps.