CCBL Board constitutes 3 committees

Excelsior Correspondent

JAMMU, Jan 1: The Professional Board of Jammu Central Cooperative Bank Limited (CCBL) here today held its first Board meeting under the chairmanship of Navin K. Choudhary, Principal Secretary Finance.
In the meeting Board resolved to increase the authorised capital of the Bank in order to induct recapitalization assistance amounting Rs 189 crore from the government. The directions were issued to complete the codal formalities in this regard.
Financial health of the Bank was reviewed evaluating current business, branches, infrastructure, staff strength and business ratios.
On this occasion, the Chairman constituted various committees of the Board like Audit Committee, HR Committee and Legal Committee with directions to present their reports before the next Board meeting so that directions could be given in the interest of the Bank, its depositors, stakeholders etc.
The Board expressed concern that in the era of technology 71 branches are functioning manually and desired to implement CBS without any delay.
Board members present in the meeting were Abdul Majid Bhat, Secretary to Cooperative Department, Sanjeev Verma, Divisional Commissioner Jammu, H.K Razdan, Director Agriculture Jammu, Seema Shekhar Khajuria, Additional Advocate General and others.

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