Jammu: Principal Secretary, Cooperative Department, Navin Kumar Choudhary today chaired the 8th Board of Directors (BoDs) meeting of Jammu Central Cooperative Bank Limited (JCCBL) at Civil Secretariat here.
The meeting was attended by Divisional Commissioner Jammu, Sanjeev Verma; Director Agriculture Jammu, Inderjeet; Senior Advocate, Seema Khajooria and other members of the Board.
During the meeting, the Board discussed several measures which need to be initiated for the revival of the Bank besides other issues pertaining to financial management and human resources were also discussed in the meeting.
Navin Kumar Choudhary, who is also Chairman of the Bank while speaking in the meeting directed the bank officers to initiate necessary steps for revival of the Bank besides action should be taken against the non performing employees of the organisation. He directed them that all statutory banking compliances as per RBI guidelines should be mandatorily followed while running daily affairs of the Bank.
Principal Secretary further asked the representatives of the Bank to explore the possibilities of merging different branches which are underperforming and have low business. He directed that during this process, the customers should not get affected and every possible mechanism should be adopted for ease of the customers during the merger.
The Board also directed the representatives of the Bank that thorough and sincere efforts should be put in to recover the bad loans besides asset inventory of the Bank should also be maintained on regular basis.
The Board decided to include one eminent person from banking sector and one experienced Chartered Accountant into the BoDs. The Board also agreed upon the merger of certain underperforming branches of the bank besides grant of administrative and financial powers to the Managing Director and General Manager of the Bank.
The BoDs also decided to appoint a legal assistant in the Bank having more than two years experience from BAR after proper selection process besides adoption of SARFAESI Act in the Bank for recovery of bad debts was also agreed upon.
The Board also considered the proposal of clearing cheques of the Bank through other banks with the facility of NEFT and RTGS.
Taking serious note of some of the inefficiencies and irregularities in the daily affairs of the Bank, the Board decided to take action against one of the senior office bearer of the Bank.