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| Tariq reviews quarterly performance of JCC Bank | | | EARLY TIMES REPORTER
JAMMU | JULY 24
A review meeting of the Jammu Central Cooperative Bank was held on 24th July, 2006 which was presided over by M.S. Tariq, Hon’ble Chairman of the bank and attended by S.K. Mehta, Chhatter Singh and Arun Bakshi, General Managers of the Bank. The chairman was apprised of branch-wise position of deposits, loans issued and recovery of outstanding loans for the quarter ending 30th June, 2006. It was brought to the notice of the Hon’ble chairman that bank was able to tap low cast deposits amounting to Rs. 273.00 lacs during the quarter ending June 2006, which improves the profitability of the bank. It was also brought to the notice of the chairman that during the first quarter the bank disbursed loans to the tune of Rs. 2074.82 lacs, which is more than 28% of the corresponding period of last year. Moreover the bank was able to effect recovery of 65% of the total demand as compared to 62% of the last year; likewise the recovery of NPA was Rs. 42.87 lacs in the first quarter. Apart from this it was further apprised that the bank received an amount of Rs. 18.97 lacs as commission from Aviva Life Insurance as a result of bank insurance tip ups. It was further apprised to the chairman that the recently constituted Investment Cell has also started showing encouraging results.
The chairman impressed that there is need of further improvement in the bank’s working particularly in the field of tapping of deposits and recovery of NPAs. He advised that the poor performers be served with warning to either perform or face consequences and the good performers be encourage
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