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 these departments and took a detailed review of performance, achievements and targets achieved by the respective departments.

While reviewing the functioning of the Cooperatives Department, the Advisor was informed that 1002 Cooperative Societies registered under J&K Cooperative Societies Act are functional in the state.

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

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

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

On the occasion, Advisor Ganai asked the concerned to use the location and infrastructure of these Bazars to promote the products made by artisans, handloom and handicrafts craftsmen. He advised them to encourage women entrepreneurs and Self Help Groups through these Bazars. The concerned officers informed that the Anganwadicentres and government offices were directed to prefer procurement of items through Cooperative Super Bazars.

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

Other issues which were discussed include the development of commercial poultry and Diary products through cooperatives, revival of defunct societies their strengthening and utilization of idle assets to bring new vibrancy in the functioning of the Department.

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

Later, Advisor Ganai chaired another meeting to review functioning of the Tribal Affairs Department during which performance assessment of the department was undertaken.

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

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