SRINAGAR: The Jammu and Kashmir State Cooperative Bank has significantly increased the credit facilities in agriculture and its allied sectors, showing an increase of 64 percent in lending that touched Rs 611 lakhs in 2012-13.
In 2011-12 the agri loans stood at Rs 216.40 lakh, with the bank this fiscal fixing a target of Rs 1000 lakh.
The bank that recently released the figures at its Annual General Meeting has carried a total business of Rs 72015 lakh, with its per branch business also touching 3000.63 crore, that it expects to significantly increase after its switchover to the CBS model and future additions of ATM’s.
The bank that has significant rural presence and is keen to providing latest services to the customers. MS Dar, chairman of the Bank has said that Branch expansion is at top of the banks developmental program and is being pursued with the RBI for obtaining of licenses.
The bank recently tied up with the Axis Bank to avail services like  Real-Time Gross Settlement (RTGS) and National Electronics Fund Transfer (NEFT) to facilitating these services to the customers.
FA Khan, managing director JKSCB told Kashmir Reader that to attract more customers bank has made technological upgradation and in the past few years we have witnessed significant growth on that front.
The bank deposits have grown by Rs 6275.8 lakh in comparison to 2011-12 touching Rs 60909.47, with fixed deposits showing an significant increase of Rs 3199 lakh during the period.
The NPA for the bank stood at Rs 2588.84 lakh, a decrease of Rs 56.86 lakh with its current fiscal target pegged at 2100 lakh, with the recovery of 52 percent being achieved.
The bank’s investment in short term deposits and other investment stands at Rs 41026.63 lakh while in government and trustee securities it amounts to Rs 8219.37 lakh.
To bring in more accuracy in the maintenance of accounts and to strengthen internal controls, the bank since  October last year has entrusted the concurrent audit of the bank and its branches to Chartered Accountants.
The J&K State Co-operative Bank which is at the apex level of the three tier Cooperative credit Structure and came into establishment in the year 1917. It was originally named Srinagar Central Co-operative Bank for Srinagar and Leh Districts. It was given the structure of apex bank in the year 1954 and it got itself registered as The J&K State Cooperative Bank.
The bank offers loans for various purposes like Agriculture, allied agriculture, Consumer durables, public distribution system, non-farm sector activities, retail trade, housing, SHG and transport etc. to the general public of both rural and urban areas.

Reader correspondent