Excelsior Correspondent
JAMMU, Nov 16: On the occasion of 65th Cooperative Week, the Citizens’ Cooperative Bank Ltd.(CCBL) Jammu organized a programme on value addition and brand building through cooperatives.
M.M Rehman, Registrar, Cooperative Societies, J&K was the chief guest and Rishpal Singh Additional Deputy Commissioner, Jammu was the guest of honour.
Parveen Sharma, Chairman of the Bank highlighted the challenges before the Cooperative Banking Sector in this present era of globalization and sought support of the Government for strengthening of the sector as a whole for development of the cooperative movement in the State. The Chairman of the Bank apprised that the bank has been established in 1978 with share capital of Rs.1.00 lakh only and presently bank is having 40000 share holders and share capital of Rs. 1355.00 lakhs.
The Urban Cooperative Banks have to face competition with Public Sector and other commercial banks who have patronage of Central Government, respective State Governments and the Government routes its funds through Public Sector Banks and other State owned banks whereas no share of Government funds is routed through Urban Cooperative Banks which is a major set back to these banks.
Chairman desired full cooperation of Registrar, Cooperative Societies, J&K and Government in respect of the business and share capital subscription to compete with other banks.
M.M.Rehman, Registrar, Cooperative Societies, J&K while speaking on the occasion stressed for the need of bringing awareness of Cooperatives amongst masses by the people involved in the movement.
Rishpal Singh, Additional Deputy Commissioner, Jammu while speaking on the occasion called upon the participant cooperators to form new societies for the needy so that benefits of movement reach to them.
S. Surinder Singh, Director, Citizens Cooperative Bank Ltd presented vote of thanks.
The Board of Directors present on the occasion were Kuldeep Raj Gupta, Sachin Gupta, Sumant Singh Jamwal, Suresh Kumar, S.Surinder Singh (Advocate), Varinder Singh Jamwal and Ravi Kant, Ashok Goswamy, Managing Director of the Bank along with Chief Managers, other senior officers and staff of the Bank was also present on the occasion.
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