Excelsior Correspondent
JAMMU, Aug 28: Minister for Cooperatives and Ladakh Affairs, Chering Dorjay said that collective efforts are necessary to ensure the development of cooperatives in the State.
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Addressing the gathering at inaugural function of new administrative office of ‘The Citizen’s Cooperative Bank Ltd.’ (CCBL) at Gandhi Nagar, the Minister congratulated the newly elected Board of Directors and expected the officials to work honestly in the right spirit of Cooperative Movement. The Minister assured to extend all possible support from the State Government in development of the cooperative sector.
Emphasizing on active participation in cooperatives, the Minister said that dynamic contribution by members in the management of cooperatives benefit all the members of such cooperatives.
He said that the cooperative sector has been playing a distinct and significant role in the country’s socio-economic development. There has been a substantial growth of this sector during the past few decades, he added.
Chairman CCBL, Parveen Sharma assured the Minister that the newly elected team will work with an objective to improve the financial condition of the bank. He also submitted a memorandum to the Minister for the consideration of proposal for grant of share capital of Rs 10 crore to improve the CRAR level.
Speaking on the occasion, Secretary Cooperatives, B A Bhatt expressed hope that the bank under the new leadership will regain its financial health and achieve the desired standards set by the regulating authority.
Additional Deputy Commi-ssioner, Dr Arun Manhas also shared his experiences as administrator of the Bank and wished a successful tenure to the new management.
Vice Chairman JAKFED, Munish Sharma, Board of Directors, CCBL Bharat Bhushan Gupta, Kuldeep Raj Gupta, Sachin Gupta, Sumant Singh Jamwal, Suresh Kumar, Advocate S.Surinder Singh and Varinder Singh Jamwal , Managing Director, Ashok Goswamy besides senior functionaries of CCBL and Cooperative Department were present on the occasion.
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