Excelsior Correspondent
JAMMU, Aug 25: Department of Cooperative Bank Supervision (DCBS), RBI, Jammu conducted the 21st meeting of the Task Force on Co-operative Urban Banks (TAFCUB) for the State of Jammu and Kashmir today.
N K Sahu, Regional Director, Reserve Bank of India, Jammu and Kashmir State presided over the meeting. Sandesh Sharma, Joint Registrar (Banking & Finance), J&K Government, Subhash Gupta, Chief Executive, NAFCUB, MD / CEOs of the all the four UCBs viz. The Citizens Cooperative Bank Ltd. (CCBL), Jammu, Devika Urban Cooperative Bank Ltd. (DUCBL), Udhampur, Urban Cooperative Bank Ltd. (UCBL), Anantnag and Kashmir Mercantile Cooperative Bank Ltd. (KAMCO), Sopore along with officers of RBI, DCBS, Jammu participated in the meeting.
The financial performance of the four UCBs was reviewed in the meeting. The other issues relating to Revised Supervisory Action Framework (SAF) imposed on CCBL, Jammu, timely completion of elections of Board of Directors of DUCBL, Udhampur, 97th Amendment to the Constitution, progress on implementation of CKYCR by UCBs etc. were discussed in the meeting.
N K Sahu, Regional Director expressed concern over the high NPAs and weak financial position of CCBL. Sandesh Sharma, Joint Registrar (Banking & Finance), J&K Government stated that Election for Board of Directors of DUCBL, Udhampur could not be conducted on August 21, 2017. Since, the election of DUCBL, Udhampur could not be conducted, the task force requested the RCS office to take necessary action as to appoint Administrator/ Conduct Elections as per the rules/ Act. MD, CCBL informed the house that new Board in CCBL, Jammu has been formed. The meeting concluded with vote of thanks by A B Dutta, DGM, RBI.
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