J&K chief minister Mufti Mohammad Sayeed has asked his finance minister to vigorously pursue the RBI’s recapitalisation plan to revive the ailing district cooperative banks in Baramula, Jammu and Anantnag districts, reports a news outlet.
The Chief Minister had indicated a wider role for cooperatives in the public distribution mechanism of J&K while earlier meeting the Nabard chairman.
According to the chief minister, the state govt would give Rs 139 crore in multiple tranches towards the revitalization plan.
The ministers were participating in the ceremony organised by the J&K Bank to present dividend cheques to its largest stakeholder—the state government.