Cooperative Bank holds GBM

Excelsior Correspondent
Srinagar, Feb 8: A meeting of the General Body of the J&K State Cooperative Bank was convened here at its “Athwas Gahh” headquarters.
A spokesman of the Bank said the meeting was presided over by the Chairman MS Dar and majority of members participated in the meeting, besides representatives from Cooperative Department and officers of the NABARD as well.
“The Chairman while initiating the deliberations dwelt at length on the importance of holding Annual General Body Meeting (AGM) at regular intervals as provided under the Cooperative Societies Act, Rules & Bye-laws of the bank,” said the spokesman.
While elaborating the importance and legal sensitivity of the general body the Chairman stated that unless and until Share Holding members realize the perspective, the Cooperative movement cannot make headway especially in the present regime of the competition and open economy.
The Chairman expressed satisfaction over the performance of the Bank as the business of the Bank has touched a record business of Rs 83250 lakhs as on 31.03.2015. The Audit classification has improved from ‘C’ to ‘B’ category.
“Besides this Bank has over achieved the CRAR target as fixed by RBI for financial year 2014-2015.The Bank is now at par with other Banks of country in the technological front. Updated technology and tailor made products are being introduced in the Bank,” the spokesman said.
Managing Director of the Bank, Abdul Ahad War, highlighted the role of General Body of the Institution and gave valuable suggestions for the upliftment of Cooperative Structure in the State.

Follow our WhatsApp channel