Sir,
It’s about three years back that Govt of India had announced to recapitalize 23 Co-op banks in different states. But in J&K the fate of three Co-op banks is still in doldrums. The State Govt is not sure when these three banks are recapitalized so that these are also allowed to function in a decent way. The State Govt has infused 532 crore as additional Capital in J&K Bank Ltd, acting as an agent of the state, but no amount to infuse life in all these banks. The Govt has also appointed a new Board of Directors recently in Jammu Central Co-op Bank for fulfilling the requirements as per RBI/NABARD guidelines to obtain licence and to make this institution at par with their counterparts.
All these banks need professional management and technical incumbents to improve its financial position so that the people form the lower strata dealing with these banks can avail of all the schemes run by the State. The Govt should also need to make sure that these banks may be provided some Govt business like depositing of electricity bills, water bills so that the customers also get some relief from waiting for more than one to two hours for depositing their bills etc in J&K Banks Ltd only.
Yours etc…
Sanjali Sharma
Jammu
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