Cooperative Banks in J&K earned Rs 6.24 cr profit in 2018-19

Advisor to Governor Khurshid Ahmad Ganai Friday chaired separate meetings to take stock of the functioning of Cooperatives and Tribal Affairs Departments.

The meetings discussed the overall functioning of thesedepartments and took a detailed review of performance, achievements and targetsachieved by the respective departments.

   

While reviewing the functioning of the CooperativesDepartment, the Advisor was informed that 1002 Cooperative Societies registeredunder J&K Cooperative Societies Act are functional in the state.

It was also given that J&K has nine Cooperative Banksserving the people. Secretary Cooperatives, Abdul MajeedBhat informed theAdvisor that J&K Cooperative Banks earned an operating profit of Rs 6.24crore for the financial year 2018-19.

He was also briefed that NPAs of all the Cooperative Banksare being reviewed. The recovery of these assets is in full swing in all thesubsidiary Cooperative Banks of the state. He was apprised that the new capitalinfusion would further improve the financial health of these banks.

During the meeting, functioning of Cooperative Super Bazarswas also discussed. The Registrar Cooperative Societies briefed the meetingthat in 2018-19 these Super Bazars had a cumulative turnover of Rs 42.47 crorewith a net profit of Rs 94.76 lakh. He informed that the Super Bazars ofSrinagar and Jammu are refurbished and would be computerized to bring inadditional efficiency in their functioning.

On the occasion, Advisor Ganai asked the concerned to usethe location and infrastructure of these Bazars to promote the products made byartisans, handloom and handicrafts craftsmen. He advised them to encouragewomen entrepreneurs and Self Help Groups through these Bazars. The concernedofficers informed that the Anganwadicentres and government offices weredirected to prefer procurement of items through Cooperative Super Bazars.

The Advisor also directed the officials to come up with arobust cooperative policy emulating the best models in the country. He alsodirected for organizing promotional events for bringing the working of theDepartment into the focus of the general public.

Other issues which were discussed include the development ofcommercial poultry and Diary products through cooperatives, revival of defunctsocieties their strengthening and utilization of idle assets to bring newvibrancy in the functioning of the Department.

Secretary Cooperatives and Tribal Affairs, Abdul MajeedBhat,Registrar Cooperative Societies M.M Rehman and other concerned were present inthe meeting.

Later, Advisor Ganai chaired another meeting to reviewfunctioning of the Tribal Affairs Department during which performanceassessment of the department was undertaken.

The Advisor was informed that J&K has a tribalpopulation of 1,49,3299 souls comprising of 11.9% of the total population basedon 12 tribes.

He said the government has taken a slew of measures for theprogress and welfare of the tribal population and directed the officers toensure the optimum use of resources and cent percent implementation of thedevelopment projects so that their benefits reach to the intended populace.

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