M.S. Dar chairman, J&K State Cooperative Bank revealed at a review meeting that the bank achieved its midyear targets for the financial year 2017-2018. He added the bank intends doing a business of Rs 1200 crore business and netting 100 per cent increase in its profits, reports Great Kashmir.
According to the chairman, the bank has lent Rs 5464.68 lakh against a target of Rs 5800 lakh.
The chairman underlined the importance of lending for rural areas He urged the bank to get involved in creating products for small scale business with a strong focus on creating jobs at the grassroots level. .
The MD of the bank, M Lateif gave the information that the bank has opened 4 new branches and 7 ATMs this year. The MD said the bank is actively engaged in organizing financial literacy camps focused on digital banking.