Excelsior Correspondent
JAMMU, Oct 31: Jammu Central Cooperative Bank Limited (JCCB) has clarified that certain recent newspaper reports on the proceedings of the ongoing J&K Legislative Assembly have incorrectly mentioned the Bank’s name in connection with alleged irregularities, employee grievances and deposit-related issues.
The Bank categorically refuted these claims as baseless and misleading. JCCB remains a financially sound and fully functional cooperative institution operating under the supervision of the Registrar, Cooperative Societies, J&K, and the Reserve Bank of India through NABARD.
As per the Managing Director of the Bank, JCCB continues to operate smoothly across all its branches, with no proposal or consideration of closure under discussion. In fact, after nearly three decades, JCCB has begun recording operational profits, reflecting significant internal reforms, prudent fiscal discipline, and efficient governance. Focused recovery drives and improved credit management have helped reduce Non-Performing Assets (NPAs) and strengthen the Capital to Risk (Weighted) Assets Ratio (CRAR), underscoring the Bank’s growing financial resilience.
With active guidance from the Cooperative Department, JCCB has undertaken initiatives to revive and strengthen Primary Agricultural Credit Societies (PACS) by extending credit for Food Processing Units, Decentralized Grain Storage Projects, and other agri-based ventures to promote rural economic empowerment. A special restructuring policy has also been introduced to rejuvenate dormant but viable PACS, restoring their role in the cooperative credit network.
The Bank further clarified that there are no employee grievances or depositor issues as reported. All staff salaries, benefits and depositor services are being managed efficiently and on time. Jammu Central Cooperative Bank Limited reiterates its commitment to transparency, reform, and sustainable growth while rejecting all unfounded and misleading assertions made in the newspaper reports.
Follow our WhatsApp channel
