JAMMU: Minister for Cooperatives and Ladakh Affairs, Chering Dorjay said that collective efforts were necessary to ensure the development of cooperatives in the state, a press note issued Monday read.
Addressing a gathering at the inaugural function of new administrative office of ‘The Citizen’s Cooperative Bank Ltd.’ (CCBL) at Gandhi Nagar, the minister congratulated the newly elected Board of Directors and expected the officials to work honestly in the right spirit of Cooperative Movement. The minister assured to extend all possible support from the state government in development of the cooperative sector.
Emphasizing on the active participation in cooperatives, the minister said that dynamic contribution by members in the management of cooperatives benefit all the members of such cooperatives.
He said that the cooperative sector has been playing a distinct and significant role in the socio-economic development. There has been a substantial growth of this sector during the past few decades, he added.
According to the press note, the minister exhorted upon newly elected officials to work with commitment and dedication in making CCBL a vibrant institution in cooperative sector.
Chairman CCBL, Parveen Sharma congratulated the government for conducting free & fair elections and assured the minister that the newly elected team would work with an objective to improve the financials of the bank. He also submitted a memorandum to the minister for the consideration of proposal of grant for share capital of Rs 10 crores to improve the CRAR level.
Speaking on the occasion, Secretary Cooperatives, B A Bhatt expressed hope that the bank under the new leadership shall regain its financial health and achieve the desired standards set by the regulating authority.
Additional Deputy Commissioner, Dr Arun Manhas also shared his experiences as administrator of the bank and wished a successful tenure to the new management.
Vice Chairman JAKFED, Munish Sharma, Board of Directors, CCBL Bharat Bhushan Gupta, Kuldeep Raj Gupta, Sachin Gupta, Sumant Singh Jamwal, Suresh Kumar, Advocate S.Surinder Singh and Varinder Singh Jamwal , Managing Director, Ashok Goswamy besides senior functionaries of CCBL and Cooperative Department were present on the occasion.