Baramulla, Jan 30: The Baramulla Central Cooperative (BCC) Bank yesterday convened its 2nd Annual General Meeting (AGM) after the Professional Board of Directors (PBODs) took over the management of the bank in December 2018.
The meeting was held under the supervision of Assistant Commissioner Revenue Baramulla, Peerzada Mumtaz.
Apart from the Directors of Board, the meeting was attended in hybrid mode by 55 delegates of the member PACSs.
The Deputy Registrar Cooperative Societies Baramulla witnessed the proceedings and briefed the meeting about the overall performance including financial progress of banks till date.
It was informed that the bank has recovered NPAs of Rs. 80 Crores from March 2019 to December 2022 and the audit rating and classification has also improved from 36 to 50 during the period.
On the occasion, the CEO informed the house that the Bank has identified 63 PACSs situated in District Baramulla, Bandipora and Kupwara for a computerization project for which the Govt. of J&K will be providing Rs. 3.91 lacs per PACS.
Meanwhile, the house approved the proactive role of Commissioner Secretary Cooperatives who is the Chairperson of the Board of the bank as well for recapitalization of the bank. The house also lauded the distinguished and exemplary efforts of the directors of the Board along with the Chief Executive.
The board emphasized upon the officers to accomplish the achievements against the set targets allocated to both banks under MAP approved by the government.
