There is news of an overhaul exercise going on in Kangra Central Cooperative Bank. According to media reports, more than 50 branches of Himachal Pradesh based Kangra Central Cooperative Bank are set to shut down. Most of the branches of the bank are in the red.
The bank Chairman Dr. Rajiv Bhardwaj said,”The road map has been ready and we are strengthening the bank system. These branches were opened for political benefits and are therefore financially weak”.
He further said, “The deposits in the bank on 31st Jan 2018 were Rs 9971.44 crore and in my tenure it has increased to Rs 10,751 crore. The bank deposit base has been raised to Rs 779.56 crore.”
“In one year, we have disbursed loans of more than 100 crore. In the span of more than 4 months, the profit increased from Rs 4 crore to Rs 39 crore”, he claimed further. Our management has also succeeded in controlling NPA and just in three months about Rs 100 crore has been recovered, he added.