Reserve Bank of India’s Department of Cooperative Bank Supervision (DCBS), Jammu conducted 20th meeting of the Task Force on Unlicensed District Central Cooperative Banks (DCCBs) for Jammu and Kashmir on Tuesday here.
RBI’s Regional Director for J&K, Thomas Mathewpresided over the meeting, according to a statement.
AM Bhat, Secretary Cooperatives, MM RehmanGhasi, Registrar Cooperative Societies, PBalachandran, Chief General Manager, NABARD, Jammu and Kashmir; AB Dutta, deputy general manager, RBI; Shafqat Ali, under secretary Finance Department; MDs and CEOs of DCCBs of J&K viz. Anantnag Central Cooperative Bank (ACCB), Baramulla Central Co-operative Bank (BCCB), Jammu Central Co-operative Bank (JCCB) and MD of J&K State Cooperative Bank (JKStCB) participated in the meeting.
Regional Director, during his welcome address highlighted the important role played by the Task Force in addressing the issues of the rural cooperative banking sector.
Secretary to Govt. of J&K, Cooperative & Tribal Affairs Department mentioned that funds for recapitalization of DCCBs might be released within this financial year. RCS, J&K apprised the house that appointment of Statutory Auditors for the financial year 2018-19 would be appointed by 1st week of April.
The financial performance of the three DCCBs and J&KStCB in the preceding quarters was reviewed in the meeting. Some other important issues were also discussed in the meeting. Further, the bank specific regulatory and managerial issues were also discussed in the meeting.