Excelsior Correspondent
JAMMU, Nov 19: Managing Director of State Financial Corporation (SFC) Rajesh Kumar Shavan today took review of all field offices through video-conference.
The meeting was convened exclusively to review the recovery performance of the Corporation vis-à-vis targets given to the field offices of the Corporation in UT of Jammu & Kashmir & UT of Ladakh.
The Managing Director was informed by the Chief Manager (Personnel and Administration) that the field offices in aggregate achieved Rs 102.30 lakh against target of Rs. 300 lakh set by the management. He laid thrust on doubling the efforts by all the field offices to achieve the target set by the management for the month.
The Managing Director gave specific instructions to heads of the field offices to use every tool of recovery as provided by the recovery policy of the Corporation on time bound manner to achieve the targets. The field offices which attended the video conferencing were – Srinagar, Jammu, Udhampur, Pulwama, Baramulla, Rajouri, Leh and Kargil.
The Managing Director also reviewed the legal cases of the Jammu division one-by-one and passed specific instructions to the Manager (Legal) for implementing the same to expedite the recovery process through legal action also if applicable, on time bound manner.
Pertinently, 8-9 counsels are on the panel of SFC to defend the litigations in various courts, but due to chronic litigations a considerable amount of Corporation is stuck in litigations.
The MD asked the Legal Branch to expedite the process of filing replies/ objections and directed the concerned to take corrective measures for effecting recoveries. He asked the officers to put in more sincere efforts in tandem to plug the loopholes, if any, in the system and streamline the functioning of the Corporation.
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