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| JCC bank clears loan proposals of Rs 4.78 Cr | | | Early Times Report
Jammu, June 3: The loan committee of Jammu central cooperative bank limited (JCCB) presided over by Mohinder Singh, chairman of the bank and attended by board of directors Angrezu Ram Sharma, Altaf Hussain Shah, Surjit Singh, Nand Kishore, Joginder Singh, Haji Mahad Joo and Sadiq Hussain Chouhan cleared loans proposals amounting to Rs 4.78 crores, which includes rs. 3.17 crores for farm sector and rs. 1.61 crores for non farm sector. Managing director, Arun Bakshi in the meeting apprised the loan committee members that the total loan outstanding of the bank has reached rs. 271.52 crores.
Speaking on the occasion chairman stressed upon for quality loaning and speedy clearance of loan proposals so that bank’s clients do not suffer and hassle free loans are provided to the borrowers.
He said powers have been delegated to the district managers for sanction of loans upto Rs. 5.00 lacs so that more and more loan proposals are cleared at the district level itself and only the loans above the ceiling fixed for district managers should come to central office. He apprised the participants that matter has been taken up with the national bank for agriculture and rural development for enhancing the ceiling of the bank beyond Rs. 25.00 lacs in individual cases so that some big units are financed by the bank in order to improve its credit deposit ratio.
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