Punjab Post Daily Online Newspaper & Print Media
Chandigarh, August 12 (Punjab Post Bureau)- Principal Secretary to Chief Minister and Financial commissioner Cooperation Punjab Mr. S.K. Sandhu today held a review meeting of The Amritsar Central Cooperative Bank Ltd. at Amritsar. During the meeting he held an in-depth financial analysis of the bank. He observed that sincere efforts have not been made for recovery of NPA Loans. It is bound to affect the financial health of the bank. He directed the management of bank to make sincere and persistent effort to achieve all the financial parameters including maintenance of CRAR as stipulated by RBI and NABARD in order to maintain regular flow of credit and other financial services to the valuable farmers. If such an effort is not done by the bank, capital has to be infused in the bank from an outside source.
He told that over last three years Punjab Govt has infused capital to the tune of around Rs 200 crores in the cooperative banks to maintain the Capital Adequacy Ratio as mandated by RBI. He emphasised that no financial institution can be run with the help of an outside agency including Government. Hence there is a need that cooperative banks should be run on professional lines. He emphasised that bank should strive hard to recover its NPAs and enhance the recovery of its overdue loans.
He Further said that keeping in view the seriousness of the issue, the Government has chalked out a road map to achieve the maintenance of Capital Adequacy Ratio of the banks. In this regard while he himself held series of meeting at Fazilka ,Ferozepur, Jalandhar, Patiala, Tarn Taran and Amritsar District Cooperative Banks, he has directed Registrar Cooperative Societies Punjab and Special Secretary Cooperation to hold similar meetings with the Central Cooperative banks in the remaining districts of state to comply with the agenda of Government.
