Yasha Mudgal reviews financial status of ACCB, BCCB

Jammu : Commissioner Secretary, Cooperatives Department, Yasha Mudgal, today conducted a comprehensive branch wise review of Anantnag Central Cooperative Bank (ACCB) and Baramulla Central Cooperative Bank (BCCB).
The review meeting addressed various crucial aspects of these cooperative banks, including gross and net Non Performing Assets (NPA), deposits, cash in hand, liabilities, Capital to Risk-Weighted Assets Ratio (CRAR) percentage, well-performing branches, measures to reduce loss percentage and recovery enhancement.
Commissioner Secretary exhorted upon the branch heads to achieve the set target on monthly basis. She directed the officers to organizes camps to recover the amount and raise awareness among the general public about the benefits of cooperative bank.
Yasha Mudgal urged upon all banks to enhance their CRAR and reduce NPAs through robust recovery strategies and delivery of improved banking services.MD, ACCB briefed that a target of Rs 12.28 crore had been allocated to the bank to be recovered up to November 2023 against NPAs of 16.06 crore. He also briefed that against the set target the bank issued Rs 33 crore up to November 2023 with 65% achievement .
MD further said that the banks have closed 30 NP accounts during the month of November and recovered an amount of Rs 5 crore upto November making 42 percent achievement. He explained that the bank has taken up 23 accounts under SARFAESI for Rs 4.13 crore with the help of District Magistrate for physical possession.
This branch-wise review is a significant step towards ensuring the stability and growth of the cooperative banking sector in Jammu and Kashmir.The meeting was attended by Registrar Cooperative Societies J&K, Additional Registrar Cooperative Societies Jammu, Director Finance Cooperative Department, Additional Secretary Cooperative Department, Joint Registrar Cooperative Societies (Banking & Finance) Managing Director Of ACCB, BCCB , branch heads and other concerned officials.