 Early Times Report
Jammu, Nov 10: Department of Cooperative Bank Supervision (DCBS), RBI, Jammu conducted the 17th meeting of the 'Task Force' on unlicensed District Central Cooperative Banks (DCCBs) in the State of Jammu and Kashmir in the Conference Hall of Reserve Bank of India, Jammu.
N.K. Sahu, Regional Director, Reserve Bank of India, Jammu and Kashmir State presided over the meeting. Sh. Vijay Kumar, CGM, NABARD, Jammu; Additional Secretary Co-operative Department, J&K Govt.; Deputy Secretary, Finance Department, J&K Govt.; MD / CEOs of the three DCCBs and JKStCB viz. The Jammu Central Cooperative Bank Ltd. (JCCB), Jammu; The Baramulla Central Cooperative Bank Ltd. (BCCB), Baramulla; The Anantnag Central Cooperative Bank Ltd. (ACCB), Anantnag; J&K State Cooperative Bank Ltd., Srinagar along with officers of NABARD and RBI, DCBS, Jammu participated in the meeting. The financial performance of the DCCBs / JKStCB was reviewed in the meeting. The other important issues relating to capital infusion in the three DCCBs, adherence to KYC/ AML guidelines by DCCBs, etc. were also discussed.
N.K. Sahu, Regional Director highlighted the importance of rural cooperative banks in rural development and employment generation in the State. He expressed concern on the weak financial position of these banks and emphasized on strengthening these banks for the growth of cooperative sector in J&K. Vijay Kumar, CGM, NABARD emphasized that these banks must take immediate steps for improving their management and internal control systems and make vigorous efforts for reduction of NPAs. The Additional Secretary, Cooperative Department stated that steps have been initiated for infusion of capital in the three DCCBs. The meeting concluded with vote of thanks by P.K. Jain, DGM, RBI. |
