SRINAGAR, SEPTEMBER 29: Minister of State for Cooperative, Forest, Environment, Fisheries and Animal & Sheep Husbandry, Mir Zahoor Ahmad called for revival of defunct Cooperative Societies by way of providing necessary material and financial support.
Chairing a meeting of officers convened here today to review the functioning of Cooperative Department and Cooperative Banks of Kashmir division, the Minister said that Cooperative is one of the oldest sector, mother of all departments which provides everything at the door steps to the consumers of the State.
Stressing the need for strengthening the cooperative sector, the Minister said that scheme like dairy, sheep and fisheries should be introduced in the sector to generate employment opportunities.
Showing concerned over the working of the Cooperative sector, Mir Zahoor said that necessary steps are to be required for strengthening of cooperative sector by taking innovative measures. He asked the concerned to work with utmost dedication and take steps for revival of non-functional Cooperative societies on priority. He also directed the concerned to come up with a proposal for recapitalization of Urban Cooperative Banks (UCB’s) for strengthening of Urban Cooperative Banks in the State.
The meeting was informed that there are 264 branches of Cooperative Banks in the State and the total business of these branches is 4400 crore. The meeting was informed that an amount of Rs 3200 crore deposits are available with these banks against which Rs 800 crore loan outstanding through cooperative banks. The meeting was informed that out of 1680 Cooperative societies, 988 are presently functional in the State.
The Meeting was attended by Secretary Cooperative, Mr. Hemant Kumar Sharma, Registrar Cooperative Society, Mr. Bashir Ahmad Bhat, Managing Director and Chief Executive Officers of SCARD, KAMCO and Cooperative Banks.
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