The election of the board of Himachal Pradesh based Kangra Cooperative Bank will be held in September 2020.
This was announced by MLA Rajendra Rana on the behalf of the state cooperative minister, media reports say.
Rana informed that the elections of BoD were to be held two years ago but the government constituted a nominated board in the bank whose term has been extended till May 2020.
The government admitted that the bank is not in profit and reported a loss of Rs 45.16 crores in 2018-19. The bank has a working capital of 13528.39 crores and the bank is making efforts to increase their profit.
It is being reported that bank is also trying to earn money by becoming a corporate agent in association with insurance companies.