23rd meeting of TAFCUB held

20/04/2018

JAMMU, Apr 19: Depart ment of Cooperative Banking Supervision (DCBS), RBI, Jammu conducted the 23rd meeting of the Task Force on Co-operative Urban Banks (TAFCUB) for the State of Jammu and Kashmir on April 19, 2018 (Thursday) at 11:00 AM in the Conference Hall of Reserve Bank of India, Jammu. Thomas Mathew, Regional Director, Reserve Bank of India, Jammu and Kashmir, presided over the meeting. Surjeet Singh, Additional Secretary, Co-operative Department, J&K Govern ment; Sandish Gupta, Joint Registrar (Banking & Finance), J&K Govern ment; Subhash Gupta, Chief Executive, NAFCUB; MD/ CEOs of the all the four UCBs viz.
The Citizens Cooper ative Bank Ltd. (CCBL), Jammu, Devika Urban Cooperative Bank Ltd. (DUCBL), Udhampur, Urban Cooperative Bank Ltd. (UCBL), Anantnag and Kashmir Mercantile Cooperative Bank Ltd. (KAMCO), Sopore along with officers of RBI, DCBS, Central Office and Jammu Regional Office participated in the meeting.
Thomas Mathew, Regional Director, during his welcome address highlighted the importance of KYC and CICs for co-operative banks.
He also appreciated the role played by the TAFCUB in addressing the issues of the cooperative sector. Sandish Gupta, Joint Registrar (Banking & Finance), J&K Govern ment, apprised the house that empanelment of Statutory Auditors is at final stage for the financial year ending March 31, 2018. He also informed that fresh elections for the Board of DUCBL, Udhampur is going to be conducted in the near future. Subhash Gupta, CEO, NAFCUB highlighted the importance of NPA management and advised the UCBs to form a Board approved technical write-off policy for the Bank.
The financial performance of the four UCBs in the preceding quarter was reviewed in the meeting. Some other important issues were also discussed in the meeting. Further, the bank specific regulatory and managerial issues were discussed with the banks, individually. The meeting concluded with vote of thanks by A.B. Dutta, DGM, RBI.

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