Yasha Mudgal chairs 11th BODs meeting of JCCB

JAMMU: Commissioner Secretary, Cooperative (Chairperson PBODs JCC Bank), Yasha Mudgal, today chaired 11th meeting of Board of Directors of JCC Bank at Civil Secretariat here.

Among others, Director Agriculture Jammu, K K Sharma, ADDC Jammu, Romesh Chander, Manager NABARD, Ravi Shanker and CEO/MD, JCC Bank, Muzafar Sultan were present in the meeting.

MD apprised the board of progressive indices reflecting post recapitalization. The board was informed that despite bringing 20 branches in profit for the first time and the recovery of Rs.14 crore against NPAs during the current FY 2022-23, the additional infusion of capital that is in pipeline needs to be released for which the Chairperson assured that all the DCCBs would be recapitalized very soon.

MD also informed the Board of Directors that the current NPAs of JCC Bank have been brought down from 38% to 33 % till date and intensive efforts are in place to ensure further recovery before closing of the current financial year.

Chairman expressed satisfaction over the role of departmental officers for extending support to the bank in PACs related matters. It is for the first time that door to door recovery camps are being organized for PACs to reduce PACs related NPAs.

She appreciated the process undertaken for bringing JCC Bank on Core Banking Solution (CBS) and for its initiation during 2022-23. The Board and Institutional Committees mandatory for compliance of supervisory concern pointed out by NABARD in various inspection reports were also approved.

Chairman asked the concerned to focus on various issues pertaining to JCCB including gross and net NPA, CRAR percentage, branch wise performance and steps taken to bring down the NPAs and make better recoveries.