PUC examines CAGs Audit Paras pertaining to JK Bank

A meeting of the Committee on Public Undertaking (PUC) of Jammu and Kashmir, Legislative Assembly was held here today under the chairmanship of MLA, Sat Paul Sharma to discuss the Audit Paras of JK Bank Ltd.

The Committee examined the CAGs Audit Paras pertaining to the Jammu and Kashmir Bank, (Finance Department) regarding doubtful recovery of loans from the firms/ defaulters inside and outside the state.

Legislators, Raja Manzoor Ahmed, Ajatshatru Singh, Vikram Randhawa, Rajiv Sharma, Abdul Majid Larmi and Mohammad Khalil Band attended the meeting and  gave their valuable suggestions for early settlement of the paras.

The Committee directed the Chairman Jammu and Kashmir Bank to take all necessary steps to increase Credit Deposit Ratio (CDR) of the Jammu and Kashmir Bank and Non-Performing Assets (NPA) should be reduced for the welfare of the Bank.

Chairman, J&K Bank, Parvez Ahmed briefed the Committee about the action taken given by the JK Bank on the observation of the CAG in its report pertaining to the JK Bank, besides present status of recovery procedure, and present status of bad loans.

The Chairman also informed about the action and remedial measure taken by the JK Bank for the recovery of loan and other losses from the borrowers, besides the bank has also initiated inquiry and action against the violators and bank employees in dereliction of their duties.

The Deputy Accountant General, Tsering Tharchin also briefed about the observation made by the CAG in its audit paras   and gave their suggestions regarding the early settlement of paras.    

The Committee directed the Bank authorities to submit present status report on audit paras before the next meeting.

The Committee dropped some audit paras after given satisfactory reply by the JK Bank authorities. The Committee also directed bank authorities to tie-up the matter of early settlement of the pending audit paras with the concerned departments and recovering the entire pending amounts from the defaulters. 

The Members of the Committee stressed that football team of the JK Bank should be active and should take part in the state and national level sports events.

Secretary, Legislative Assembly, M R Singh, President, Executive President and Vice President, JK Bank, Deputy Secretary, Finance Department and Senior Officer of Legislative Assembly were present in the meeting.

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