Bring NPAs to 6%: Yasha Mudgal sets target for Cooperative Banks
JAMMU: Secretary Co-operative Department Yasha Mudgal Wednesday chaired a meeting to review the financial status of 34 branches of Anantnag Central Cooperative Bank (ACC Bank) and 35 branches of Baramulla Central Cooperative Bank(BCC Bank) at Civil Secretariat Jammu.
At the outset, MD and CEO of ACC, BCC Banks, briefed branch wise detail of first quarter of the current financial year and highlighted issues discussed in previous meetings held on 22nd, 25th & 27th of July 2022 and also briefed about the achievements made by the banks against the targets allocated under Monitorable Action Plan (MAP) submitted for approval of the Government of Jammu & Kashmir.
The Secretary directed the MD to revise the MAP targets to make commensurate with the RBI guidelines. The MD was instructed to improve the bank parameters and bring down the NPAs level of all the branches to 6 percent and to increase the Credit Deposit (CD) Ratio to the mark of 70 percent by the end of the current financial year. She further stressed that the Biometric attendance system be implemented in all branches, head offices.
The Secretary also impressed upon the management that every branch of the bank should come with an operating profit at the end of the second quarter of the current financial year. She also desired to revise the targets allocated to all branches of banks, improve the working culture of branches and focus on recovery of the maximum amount of NPA cases to bring the banks back on rails .
The Secretary directed the MD of the Banks to initiate action and issue notices calling explanations of each employee who has not performed to the desired level & process their cases for disciplinary action. She asked the MD to prepare dossiers of all officials of the bank with reference to their performance for the last decade.
She said that the cooperative objective goes deep into the realms of building the financial capabilities and self confidence especially among the rural people.
“The Department functions in close co-operation and coordination with various other Departments connected with the implementation of various socioeconomic plans and schemes,” she said and directed that micro finance loan sanction should be maximized so that rural people get benefitted from the cooperative movement.