Excelsior Correspondent
JAMMU, Aug 28: The Citizens’ Cooperative Bank Ltd. (CCBL), Jammu has registered achievements in terms of NPA reduction and mobilization of more share capital as the incumbent Board of Directors, headed by Chairman, Parveen Sharma, completed its first year in office.
“The major challenge before the elected Board was rising NPAs which was reached to the alarming level of Rs 52 crore. The entire Board worked as a team and with the active support of staff, the NPAs have reduced to the level of Rs 38 crore by affecting recovery of more than Rs 11 crore,” informed CCBL Chairman while talking to media persons, here today.
Besides the NPAs, the new board has been able to add to the existing share capital of the bank while acting tough against the defaulters, he added.
“Share capital of Rs 1.60 crore was mobilized within one year time which clearly indicates that the people of Jammu have regained faith in this financial institution. Action against defaulters initiated as per provisions of SARFAESI Act, 2002. Over 100 notices were issued involving an amount of Rs 15.00 crores. In some cases Bank has taken possession of securities and in three cases, the properties mortgaged have been auctioned and money recovered,” elaborated the Chairman.
Parveen Sharma further said that the branches have been given monthly targets of deposits, advances, share capital and NPAs while CKYC guidelines have been implemented and membership of four Credit Information Companies has been obtained.
“At present the Bank is issuing RuPay Debit Cards, PoS machines and providing other facilities like E-com, RTGS, NEFT etc with regular meetings with customers to improve the customer services and to redress the grievances if any,” maintained the Chairman. The Bank has also shifted its Ware House Branch and Extension Counter at Talab Tillo to new locations having state of art infrastructure for the convenience of customers.
The members of Board, including Bharat Bhushan Gupta, Kuldeep Raj Gupta, Sachin Gupta, Sumant Singh Jamwal, Suresh Kumar Gupta, Surinder Singh and Varinder Singh Jamwal were also present on the occasion.
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