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| J&K Co-operative bank to open more branches: Manohar | | | Early Times Report
JAMMU , Nov 9: Jammu and Kashmir State Co-operative Bank will extend its outreach and banking services to all affiliated uncovered areas for which feasibility survey for opening of more branches in the state will be undertaken.
This was stated by Minister of State for Co-Operative Dr. Manohar Lal Sharma, while chairing the 64th Board meetings of State Co-operative Bank, Srinagar, and Jammu and Kashmir State Cooperative Agriculture and Rural Development Bank (JKSCARDB) here today.
Secretary Co-operative, Abdul Hamid, Chief General Manger NABARD Jammu, M. L. Sukhdeve, Managing Director, State Co-Operative Bank, Srinagar Muhammad Ashraf and Managing Director SCARDB, Mr. Muhammad Aslam, besides the officers of both the banks attended the meeting.
The Board observed that profitability of the bank has exceeded its estimates set for the half year. The deposit and advance portfolio has touched Rs. 46,251 Lakh and Rs. 10629.69 lakh respectively. The investment of the bank as on ending September, 2010 stands at Rs. 35170.85 lakh. Business per branch and business per employee has substantially increased.
The Board decided to seek financial support of the Government for the revival of JKSCARDB. It was observed that the Bank has distinction of extending long term agriculture loan/credit to the farming community, as such sought to approach NABARD for initiating measures for its revival and betterment of financial position.
Minister stressed on reduction of NPA's of the bank and improvement of credit deposit ratio to the desirable level, which he said will increase profitability and overall financial complexion of the bank.
The Minister has directed the concerned authorities that top priority should be given to Leh and Kargil Districts so that more business is attracted in the Division.
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