MoS reviews JKSCARD Bank activities

MoS reviews JKSCARD Bank activities
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JAMMU: Minister of State for Forest, Environment, Animal Sheep Husbandry, Fisheries and Cooperatives, Mir Zahoor Ahmad has asked the authorities of J&K State Cooperative, Agriculture and Rural Development (JKSCARD) Bank Limited to work with utmost dedication and put in all efforts to make the business of the bank flourish to the fullest.
The minister, while chairing a meeting with the officers of JKSCARD Bank Limited, asked them for preparing a proposal of about Rs 200 crore envisaging a further fillip to JKSCARD bank activities for submission to the National Cooperative Development Corporation (NCDC) for approval. He said the project would immensely help boost the JKSCARD bank activities by equipping the Bank with adequate manpower besides infrastructure, an official handout issued on Tuesday read.
The minister said, “The major population of the State of Jammu and Kashmir is dependent on agriculture and horticulture so it is necessary to promote and strengthen the JKSCARD bank in the state.”
He asked the bank authorities to ensure grant of loans to maximum agriculturists and horticulturalists of the state. He also called for decrease in rate of interests on loans so that more beneficiaries are covered.
The minister urged upon officers for “quick and timely removal of bottlenecks in the execution of schemes, strengthening of bank network and minimsing inconvenience to the people besides uplifting farmers particularly weaker sections of the society”.
Managing Director and Chief Executive Officer, JKSCARD Bank, Mohammad Aslam gave detailed resume of the working of the bank. The bank is providing medium term and long-term finances activities to agriculturists and horticulturists of the state for agriculture and non-agriculture activities, the handout read.
It further read that the bank has cleared liabilities to the tune of Rs 12.76 crore under the financial assistance of the state government of different borrowing agencies enabling the bank to save Rs 2 crore yearly interest which was paid to these borrowing agencies.
The bank has further released gratuity and other retirement benefits to the employees retired under SRO 233 to the tune of Rs 2.5 crore, the handout added.