Srinagar : Commissioner Secretary, Cooperative Department, Yasha Mudgal, Tuesday chaired a meeting to review the operational performance and financial functioning of The Urban Co-operative Bank Ltd. (UCB), Anantnag.
The meeting was attended by the Financial Advisor, Cooperative Department; GM/CEO of Urban Cooperative Bank, Anantnag; Assistant Registrar (Hqr), Cooperative Societies, J&K; and all Branch Heads of UCB Anantnag besides other senior officers of the department.
During the meeting, the GM/CEO of Urban Cooperative Bank, Anantnag, delivered a comprehensive presentation detailing the bank’s current financial standing. The review covered key parameters including deposits, advances, recovery performance, Non-Performing Assets (NPAs), overall profitability, Capital to Risk-Weighted Assets Ratio (CRAR) position, branch-wise performance and the progress made toward digital banking and technological up-gradation.
The Commissioner Secretary was informed that the bank has consistently maintained an “A” grade Audit Classification since its inception and that all its branches are fully operational on the Core Banking Solution (CBS) platform. Furthermore, the bank has initiated key measures to introduce advanced digital banking services including finishing required documentation with the NPCI, Sponsor Bank and vendor agencies while conducting mandatory Vulnerability Assessment and Penetration Testing (VAPT), Information Security (IS) Audits and EDP Audits per RBI guidelines.
While evaluating the financial indicators, Yasha Mudgal strictly instructed the management to adopt aggressive recovery mechanisms to curb NPAs. She emphasized that the Gross NPA ratio must not be allowed to escalate and directed bank authorities to prevent fresh NPAs through rigorous monitoring, continuous recovery follow-ups, and prudent lending practices.
The Commissioner Secretary also directed the bank management to focus heavily on reducing administrative costs and rationalizing operational expenditure to improve overall profitability and institutional sustainability. She emphasized the absolute need for efficient resource utilization and the adoption of prudent financial management practices across all branches.
Yasha Mudgal stressed the importance of maintaining the Capital to Risk-Weighted Assets Ratio (CRAR) well within the prescribed regulatory benchmarks. She directed the management to ensure absolute financial discipline and strict compliance with all RBI directives.
The Commissioner Secretary directed the bank authorities to expedite digitization efforts, reinforce cyber security infrastructure and swiftly complete all regulatory and technical formalities required to operationalize full-fledged digital banking services.
Yasha Mudgal directed the General Manager to submit a comprehensive proposal seeking financial support from the Government in the form of enhanced share capital to upgrade technology infrastructure, strengthen digital banking services, augment paid up capital and open new branches to expand outreach and improve customer service in the bank’s area of operation.
The Commissioner/Secretary reiterated that cooperative banking institutions play a pivotal role in boosting the local economy and delivering accessible financial services to the public. She urged the management to work with enhanced professionalism, accountability, and absolute transparency to achieve sustainable growth and reinforce public trust in the institution.
