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| CCBL celebrates 65th Cooperative Week | | |  Early Times Report
Jammu, Nov 16: On the occasion of 65th Cooperative Week, The Citizens' Cooperative Bank Ltd., Jammu organized a programme on value addition and brand building through cooperatives. M.M Rehman, Registrar, Cooperative Societies, J&K was the Chief Guest and Rishpal Singh (KAS) Addl. Deputy Commissioner, Jammu was the Guest of Honour.
Parveen Sharma, Chairman of the Bank highlighted the challenges before the Cooperative Banking Sector in this present era of globalization and sought support of the Govt. for strengthening of the sector as a whole for development of the cooperative movement in the state.
The Chairman of the bank apprised that the bank had been established in 1978 with share capital of Rs.1.00 Lakh only and presently bank is having 40000 share holders and share capital of Rs. 1355.00 Lakhs.
The Urban Cooperative Banks have to face competition with Public Sector and other Commercial banks who have patronage of Central Govt. and respective State Govt., and the Govt. routes its funds through Public Sector Banks and other State owned banks whereas no share of Govt. funds is routed through Urban cooperative Banks which is a major set back to these banks. Chairman desired full cooperation of Registrar, cooperative Societies, J&K and Govt. in respect of the business and share capital subscription to compete with other banks. |
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