Excelsior Correspondent
JAMMU, Mar 13: In reference to the news item, captioned `RBI pulls up CCBL Jammu for deficiencies, non-compliance of norms’, published in the Excelsior’s March 11 issue, the Citizens’ Cooperative Bank Ltd has said that the Bank was actively engaged in increasing its CRAR and compliance of observations in the report.
According to a statement, issued by the CCBL Managing Director Ashok Goswami, the RBI inspection and its report in reference to financial position of the Bank as on March 31, 2013 was a normal feature as similar annual inspection of other banks is also conducted.
He said that the bank has positive net worth and comfortable liquidity position. The Bank has no operational losses and has made sufficient provisions to cover the Non-Performing Assets (NPAs) while deposits of the bank are insured with Deposits Insurance & Credit Guarantee Corp of India, he added.
“The Bank has posted CRAR of 7.19 percent as on December 31, 2013 against Regulators standard of 9 percent besides effecting recoveries from a number of chronic defaulters and the total recoveries made during the current financial year were Rs 2187.53 lacs,” Mr Goswami explained.
Further, he said, computerization in the bank under Core Banking Solution is under progress and in the coming financial year, the CCBL will be fully CBS compliant and will also be able to meet the requirement of clients of the bank for RTGS and NEFT facilities.
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