The J&K Minister for cooperative finance and planning has urged the cooperative banks in the state to improve their loan recovery. The minister said if the number of defaulters reduced this would help the banks improve their financial health.
The minister was addressing an officers’ meeting held to review the progress of the cooperative banks. Scores of top functionaries associated with the cooperative banks attended the meeting.
The minister asked the banks to use various methods including persuasion to recover loans from the defaulters. The minister also called on the banks to expand their business so they could render greater services to the people.
There was general agreement in the meeting that most of the cooperative banks have been doing well and if they could reduce the scale of their NPA their performance would further improve.
The J&K govt has expressed its resolve to streamline the functioning of various cooperative institutions including cooperative societies in the state.