Jammu Central Cooperative Bank asked to tide over NPAs

Principal secretary finance, Navin K Choudhary Tuesday asked the Jammu Central Cooperative Bank (JCCB) to tide over its NPAs, while assuring full support to “locate” the government employees who have turned defaulters.

Chairing a meeting of the Board of Directors (BoD) of the Bank in the capacity of its chairman, here, Navin approved various recommendations of the audit committee, including disbanding of the office of district officer and merger of non-viable branches with the nearest potential branch to cut down the administrative expenses. 

   

Presently the Bank has 89 branches in various parts of the Jammu division.

The directors of the bank attended the meeting.

The meeting was informed that there are around “368 government employee defaulters” of the bank and their list has already been furnished to the state authorities for action under the service rules, as directed by Principal Secretary Finance. 

The chairman asked the Bank to formulate a comprehensive report of NPAs and take measures to expedite recovery from the defaulters. 

The Board also asked the bank to evaluate each loan case, with detailed mention of collateral possessions recorded at the time of sanction, before recommending it for one-time settlement to the executive committee.  

It was informed that the bank’s one-time settlement window will remain open till March 31, 2019.

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