The Government of Jammu and Kashmir has issued an order approving the re-constitution of the Professional Board of Anantnag Central Cooperative Bank for a period of six months. This move aims to implement revival measures and improve the bank’s Capital Risk Adequacy Ratio (CRAR).
The reconstituted board will oversee the bank’s affairs and ensure the effective implementation of revival packages sanctioned by the Government of India and the UT administration of J&K.
The professional board comprises six key members: the Administrative Secretary of the Cooperative Department will serve as the Chairperson; the Additional Registrar of Cooperative Societies, Kashmir, and the Additional District Development Commissioner, Anantnag will serve as Members.
They are joined by the Director of Horticulture, Kashmir, and the Deputy General Manager (DGM) of NABARD, also as Members. The General Manager/Managing Director of the Bank will act as the Member Secretary of the board.
The professional board has been entrusted with managing the bank’s operations for the designated six-month tenure or for a longer duration, as may be specified by the government, based on the financial health and revival progress of the bank.
The order was issued by Babila Rakwal (JKAS), Commissioner/Secretary to the Government, Cooperative Department.