JAMMU: The performance of Urban Cooperative Banks was reviewed at a meeting held here today under the chairmanship of Registrar Cooperative Societies, Peerzada Mushtaq Ahmad.
Besides the Managing Directors and CEOs of the Urban Cooperative Banks, Joint Registrar (Admn) and joint Registrar (Banking and Finance) also attended the meeting.
It was informed in the meeting that so far the Urban Cooperative Banks in the State have mobilized deposits worth Rs. 44741.61 Lac and advanced loans to the tune of Rs. 10251.61 Lac. The meeting was told all the four Urban Cooperative Banks have switched over to Core Banking Solutions (CBS) as per the RBI guidelines which is expected to go a long way in enhancing the accountability, transparency and proficiency in the working of these Banks which will in turn enhance their growth in Banking Sector.
Registrar while expressing his satisfaction over the net worth recovery percentage and CRAR of the Kashmir Mercantile Cooperative Bank, Anantnag Urban Cooperative Bank and Devika Cooperative Bank Udhampur, he directed the Citizens Cooperative Bank, Jammu to further improve its performance and redouble the efforts to improve the recovery of outstanding loans so that the NPAs are reduced.
The CEOs of the Banks were also advised to be regular in submitting monthly progress reports so that their performance is monitored. They were also asked to furnish compliance report to the RBI and the Administrative Department with regard to Inspection Reports.
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