Initiate measures to reduce NPAs in Cooperative Banks: Advisor Khan

File photo of Advisor to Lieutenant Governor Farooq Khan.
File photo of Advisor to Lieutenant Governor Farooq Khan.

Jammu, Dec 17: Advisor to Lieutenant Governor, Farooq Khan stressed on the need of running cooperative banks on professional lines by involving relevant people having necessary expertise in the field to man the board and management of banks.

He asked the department to look for ways and means to reduce the NPAs in these banks and focus on recovery of loans being extended by them.

Advisor Khan asked the officers to devise a mechanism for establishment of at least one Cooperative Super Bazar in each district.

Khan, while chairing a review meeting of Cooperative Department, maintained that the Super Bazars have the potential of doing tremendous business if run on professional lines.

Advisor emphasized upon the officers to work for over achieving the targets fixed for each of them. He asked them to utilize the local contacts by visiting the field regularly to know about strengths of their respective areas so that the required number of societies is established. He asked them to facilitate people in establishment of societies that have potential to grow in their areas.

Advisor Khan also advised the officers to conduct regular awareness camps in their areas to reach to maximum number of people asking them to target the far flung areas which are ideal locations for successfully running these societies. He said that each district of J&K has its own products to promote be it tourism, agriculture, horticulture, poultry, dairy or other allied activities and asked the officers to tap this potential by involving people in their plans.

Secretary Cooperatives elaborately explained the activities and achievements of the department.

She maintained that the task of revival of the department might be a bit difficult but not distant to accomplish if done with a missionary zeal.

Registrar Cooperatives apprised the meeting of various measures being taken up by the department for its betterment. He informed the meeting that all the Super Bazars have been registered on GeM portal besides bar coding and smart billing in these Bazars is also in progress. He said that Rs 250 lakh have been earmarked for modernization of these Bazars by the department.

It was informed in the meeting that the Super Bazars had a cumulative turnover of around Rs 11346.07 lakh during 2018-21 with a net profit of Rs 183.40 lakh for the same period.

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