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| Bank deposits touches 184 crore, advances 92 cr | | | Early Times Reporter
Jammu | Nov 23
Minister for Agriculture and Cooperative, Mr. Abdul Aziz Zargar has said that the purpose of setting up of Cooperative Banks was aimed at to lend financial support to the small and marginal farmers to enable them to meet their timely financial requirements for purchase of seeds, fertilizers and allied machineries.
This was stated by the Minister while interacting with the Board of Directors, officers and the staff members of Citizens’ Cooperative Bank, Jammu after inaugurating the Cash Van of the bank here today. The minister emphasized that cooperative banks should come forward and provide loans to the small and marginal farmers, which on one hand can increase the agriculture production and on other hand improve the economic condition of the farmers of the state.
Appreciating the performance of the bank, Mr. Zargar said that more efforts should be made to provide loan faculties to more farmers. He said though the bank was running in loss but the astute guidance and the administrative support of the government , bank is progressing on every front, adding that profit generated during previous years is the sign of progress. He asked the bank management to put together all efforts to reduce the NPA and also ensure the advances made are recovered in time. He directed the management of the bank to maintain the balance of deposits, besides loan and recovery. He said that on the basis of the best performance of the bank, it would be recommended to the government for Best Performance Award.
Mr. Zargar said that he had worked with veteran leaders like late Mirza Mohammd Afzal Baig of the state to make the cooperative movement a successful movement in the state, adding that door to door campaign was launched to make the people aware of the benefits of movement. He hoped that management of the bank would fulfill the responsibility to take the movement forward in bright direction.
Speaking on the occasion, the Chairman of the Bank Mr. Danesh Gupta said that concerted efforts had been made to boost the business of the bank. He demanded that RBI may be asked to allow to open new branches in the rural areas as cooperative banks have a pivotal role to play in these rural and far off areas of the state. He said the need of the hour is to modify the loaning procedure so that more potential customer are created.
It was given out that 11 branches and 4 extensions counters of bank are functioning in the Jammu. The deposits of the bank have reached to Rs. 184 crore and bank has advanced Rs. 92 crore, besides recovering of Rs. 14 crore during 2006-2007.
Among others, Vice Chairman, Chaudhary Narinder Singh, Registrar Cooperatives, Dr. G.N.Qasba, MD, Ashok Goswami, besides Directors of the Board , which include Mr. Ram Sahai, Kuldeep Raj Gupta, Mr.B.S.Manhas, Mr. Arun Gupta, Mr. Deepak Gupta, Mr. Kelash Langar and Mr. Sheshi Paul Ved and senior officers of the bank were present on the occasion. |
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