Stresses on improving recovery, deposit mobilization, lending & NPAs reduction
JAMMU, MARCH 15: Minister of State for Forest, PHE, Irrigation & Flood Control, Cooperative, Animal Sheep Husbandry and Fisheries, Mir Zahoor Ahmad today conducted surprise inspection of Regional Office Jammu of Jammu and Kashmir State Cooperative Agriculture and Rural Development (SCARD) Bank.
During his visit, the Minister took a brief review of the working of the Bank at meeting of its officers.
The Minister stressed upon the Management of the Bank to improve the recovery to improve the financial position of the bank. “The performance in Recoveries, Deposit Mobilization, Lending and reducing of NPA’s should be tagged as thrust areas” the Minister asked.
The Minister held that there is a need to provide loans to the maximum agriculturists of the State for which, he said the Bank authorities have to work with utmost dedication and put all out efforts to make it a profitable venture. He also urged upon them for quick and timely removal of bottlenecks for the smooth execution of schemes, strengthening of bank network for uplift of farmers and weaker sections of the society and minimizing inconvenience to the people.
During the meeting, the Minister was briefed about the overall financial position of the bank. It was informed that the bank has shown considerable improvement as compared to previous years in almost all the financial indicators. Detailed discussion was also held on various issues including availing of loan from National Cooperative Development Corporation (NCDC).
The Minister assured the bank authorities that every possible help will be provided by the Government for strengthening the JKSCARD bank. He asked the concerned to ensure timely disbursement of credit to the deserving persons on first cum first basis.
The Managing Director of the Bank, Mohammad Aslam Bhat briefed the Minister that the bank has increased its business and has achieved almost 210 percent of growth during last five years.
Giving the details about recovery, it was informed that the bank has taken steps for effective follow up of sticky and long outstanding loan accounts. With the improvement in its condition, the bank has started intensive follow up of recovery of long outstanding over dues and with the result the Recovery performance which was 40.07 per cent in the year 2013-14 has reached to 45.81 percent during the year 2016-17 as on 30.06.2017.
It was further given out that the Bank has also Mobilized Deposits from depositors since January 2009 to the tune of more than Rs 200 crore.
The Minister was further informed that the bank has released gratuity and other retirement benefits to the employees retired under SRO 233 to the tune of more than Rs 20 crore till date.
It was also informed that the Bank is providing Long Term Credit for Farm mechanization which include purchase of Tractors, Power Tillers, Thrashers, Horticulture, development of Minor Irrigation, Land Development, Dairy, Poultry and Sheep rearing besides other schemes of Allied Agricultural activities like purchase of bullocks, establishment of mule farms and Rabbit rearing.