STATE TIMES NEWS
JAMMU: The 5th Annual General Meeting (AGM) of the shareholders of The Citizens’ Cooperative Bank Ltd. (CCBL) was held in a cordial atmosphere with around 300 stakeholders attending the event here on Wednesday.
Led by Chairman, Parveen Sharma, the Board of Directors unfolded a number of innovative steps being taken for the overall growth of the bank while presenting the annual report.
Speaking to the gathering, of shareholders, including those of former chairmen and directors, Parveen Sharma recapitulated the history of the bank since its inception when it started operations with one branch at Moti Bazaar on October 3, 1978. He highlighted the role of cooperatives and cut throat completion being faced by this Urban Cooperative Bank from the private sector banks and public sector banks. The chairman highlighted various steps taken by the management to cater to the needs of customers with computerisation of bank under core banking solution, providing of facilities like RTGS, NEFT, Debit cards, SMS alerts, PoS machines etc.
In order to reduce the NPAs, the chairman asked the members whose loans were in arrears to liquidate their loans to avoid coercive actions viz; action under SARFAESI Act, 2002. He urged the shareholders to avail the benefit of One Time Settlement Scheme and get rid of their old debts. The following agenda of the AGM was placed before the house: To adopt Annual Accounts (Audited) for the year 2009-10 to 2016-17; to amend Bye-Laws and frame Service Rules to govern service conditions of employees of the bank; to authorise the Board of Directors to write off the debts and to settle the loans. The house unanimously approved the agenda with one voice and raising their hands.
Special Guest and shareholder, Vice Chairman JAKFED, Munish Sharma expressed that with the holding of AGM a trust has been reposed in the cooperatives and termed it as a good step for the development of cooperative in the State.
Director of the Bank, Sachin Gupta in his address sought cooperation of the members to carry out the working of bank smoothly so as to accomplish the desired goals.
Director CCBL, Surinder Singh (Advocate) presented vote of thanks amidst assurance that the AGM shall be convened regularly on yearly basis. He expressed thanks to the shareholders, civil administration and police authorities for their cooperation.
Among other Directors present were Bharat Bhushan Gupta, Kuldeep Raj Gupta, Sumant Singh Jamwal, Suresh Kumar and Varinder Singh Jamwal.
A veteran shareholder of the CCBL, D.P Khajuria spoke on the occasion. He expressed that general body was the final authority in cooperatives having all the powers.
Earlier, Managing Director of the Bank, Ashok Goswamy welcomed the shareholders and Board of Directors amidst presentation of a brief of the functioning of the leading financial institution in the cooperative sector.
Prominent among those who attended the AGM were Onkar Seth, Surjeet Singh Manhas (both Chairman), Arun Gupta, Kailash Langer and Karunesh Gupta (all former Directors).