Press Release

Secretary Cooperatives Reviews the working of Jammu and Kashmir
State Cooperative Bank Ltd; Srinagar. (J&KSCB).

Today on 16/6/2008 Ms. Tanveer Jahan, Secretary to Govt. Cooperative Department along with Dr. G. N. Qasba, Registrar, Cooperative Societies J&K, reviewed the working of Jammu and Kashmir State Cooperative Bank (J&KSCB) at its Headquarters with reference to the financial parameters for the last four years. During the review meeting following position emerged:

Total deposits of the Bank during the year 2004-05 were to the order of 501.04 lacs which figure had reached to 580.00 lacs during the year 2007-08. The Bank had fixed a target of 675 lacs for the current year.

During the year 2004-05, the total loans outstanding were to the order of 341.66 lacs which had further increased to Rs. 450.00 lacs during the year 2007-08. The working of the Bank was not found satisfactory on the recovery front.

Investments of the Bank had increased from Rs. 661.74 lacs in 2004-05 to Rs. 910.75 lacs in 2007-08. Cost of Management of the Bank had also increased from Rs. 24.69 lacs in 2004-05 to Rs. 24.81 lacs in 2007-08.

The Secretary stressed the need to professionalize the working of the Bank, besides initiating effective measures to increase the CD Ratio. The Secretary latter visited the computerized Branch of the Bank at Lal Chowk Srinagar.