JK Cooperative bank conduct Rs2000 cr business, has 25 lakh customer

Srinagar, Apr 1 (UNI) The Jammu and Kashmir Co-operative Bank has conducted a business of over Rs 2000 crore through its network of 210 branches till date while its credit deposit ratio increased to 40 per cent.

The Bank in tandem with other leading banks of the state plays a pivotal role in boosting the economy of the state and its customer base has galloped to 25 lakh, Minister for Agriculture and Co-operative Abdul Aziz Zargar said.

Cautioning the banks, he said that overall banking scenario is changing fast with the entry of private sector and foreign banks, a threat to weak and small banks. However, he said that improved services is the only solution to remain alive in this competitive environment.

He said Co-operative credit institutions account for significant share in the rural credit flow for agriculture in terms of network, coverage and out reach to cater to the needs of small and marginal farmers.

The cooperative banks alone have issued largest number of Kissan Credit Cards accounting for 70 per cent of total Kissan Credit Cards issued in country, he added.

Mr Abdul Haq, Chairman Jammu and Kashmir State Co-operative Bank while enumerating the facilities being extended by the Bank said that core banking, ATM, SMS and RTGS banking are in the pipe line.

He said under micro-financing, the highest numbers of Self Help Groups have been financed by the Co-operative banks.

Managing Director JKSCB Mohammad Ashraf while highlighting the achievements of the bank said the bank has wiped off all its accumulated losses and has consecutively been earning profits for last five years.

UNI BAS ASM BJR RK1340