J&K State Cooperative Bank

Brief History Of The JKSCB And Its Organizational Structure:

The J&K State Cooperative Bank was established in the year 1917 as Srinagar Central Co-operative Bank for Srinagar and Leh Districts. Like other States of the country the State of J&K has three tier Cooperative Credit structure viz. Primary agriculture credit society (PACs), District Central Coop. Bank (DCCBs) and Apex Bank. In the year 1954, the Srinagar Central Coop. Bank was given the status of apex Bank and was registered as J&K State Coop. Bank Ltd., for the J&K State. Besides that the Bank is functioning as CFA for Srinagar and Leh Districts which at present is divided in to 4 districts viz. Srinagar, Budgam, Leh and Kargil. Since 1979 the total No. of Branches functioning at present are (17) seventeen in four districts. The Branches are located at both rural and urban areas. These Branches are providing loans of various types for the developmental role of the State in the Shape of Agriculture, allied agriculture, Consumer durables, public distribution system, non-farm sector activities, retail trade, housing, SHG and transport etc. to the general public of both rural and urban areas. Besides the Bank provides refinance facilities to 3 district Central Coop. Banks in the State i.e. Jammu Central Coop. Bank, Baramulla C. C. Bank and Anantnag Central Coop. Bank.

Operational figures:

(Rs. In lacs)

KCC and Target thereof:

(Rs. In lacs)

Affiliated Societies (Primary/ Secondary/ others):

Primary affiliated societies are those Societies falling in District Srinagar Budgam, Leh and Kargil.

Secondary affiliated Societies Comprise of all the three District Central Coop. Banks of the State.

The Electoral College comprises of the societies falling in four districts of Srinagar, Budgam, Leh and Kargil. And also selected marketing societies of the Valley:

The strength of the Board of JKSCB comprises of:

Hence a total of fifteen members comprises the Board of Directors of JKSCB. But presently the Board of Directors has been superseded by the Govt. and a Board of Management has been nominated by Govt. with Divisional Commissioner Kashmir as its Chairman.

As per order No. RCS/SS/3357-63 Dated 28-02-2004 issued by Registrar Coop. Societies, the concerned Dy. Registrar shall revive at least one Primary Agri. Credit Society in each Block during the financial year 2004-05. And the process has already been initiated in this regard.

Development Action Plan (DAP) Strategies therof:

The Development Action Plan of JKSCB as an Apex Bank has already been signed with the NABARD and State Govt. and also the DAPs of the 3 District Central Coop. Banks with JKSCB. In the DAP targets have been set for every financial parameter to achieve a better performance and profitability.

The achievements as on 31-03-2005 against DAP targets is shown as under (Financial Parameters of JKSCB as on 31-3-2005)

(Rs. In lacs)

NABARD Classification:

NABARD conducts inspection of the Bank regularly but does not assign any particular classification.

Audit Classification:

Auditors from the Coop. Deptt. conduct concurrent audit of the Bank, checking every transaction of the Bank financial or and award audit classification to Bank as per performance of the Bank. During the financial year 2003-04 the Audit had awarded the classification C to JKSCB which has improved from D earlier in 2002-03.

Modernization Programmes/ Human Resources Development Programmes:

The Bank is in the process of setting up human resources development department in the Bank, which will look after the various HRD Programmes the training requirement programmes of the staff, proper introduction of performance appraisal system and all other related issues, which will boost the morale of the employees and always make them work harder for the better performance of the organization.

Computerization:

The process of computerization has yet to be started in the Bank, however process in this regard has already been initiated.

Client/ member friendly Schemes recently devised:

JKSCB always tries to provide its clients best services and most competitive schemes. The introduction of a car loan scheme and reduction of interest on Agri. and other loans is a recent development. In this direction where JKSCB has given the loan at the lowest interest rates available in the market and with very simple formalities. Many more such schemes shall be launched in near future.

Vision - 2005-10

Financial Parameters of J&K State Coop. Bank Ltd. as on 31-3-2005

(Rs. In lacs)