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From Banking, Schools to Super Bazaars, Cooperative sector shining up

May 30, 2022
The Dispatch Staff
4 Min Read

Jammu: Rising from the debris of prolonged ignorance, the Cooperative sector in Jammu and Kashmir is promising an impressive comeback.
Asserting that the new cooperative policy as well as schemes in pipeline, Secretary to government, Jammu and Kashmir Cooperatives Department, Yasha Mudgal said that the administration is mulling to setup one school and super bazaar in each district of the Union Territory.

“The department is planning to setup schools and super bazaars in each districts of Jammu and Kashmir,” she said during media interaction.

 

She said that for the first time, Rs 280 lakh has been released by the UT Government for their modernisation Super Bazars.

“During the current financial year, Super Bazar Jammu and Srinagar have excelled in business and are now a success story of Cooperative Department,” she said and added that all of Super Bazars have recorded profits not only in normal times, but during the Covid-19 pandemic as well.

She said, “As a result, the Super Bazars have been brought on the GeM Portal and are running their business in a professional manner.

Counting the achievements during the year 2021-22, she added said this sector is heading towards the path of its revival and revamping in the years to come.

“Issue of recapitalisation of the three District Central Cooperative Banks comprising Jammu Central Cooperative Bank (JCCB), Anantnag Central Cooperative Bank (ACCb) and Baramulla Central Cooperative Bank (BCCb) was pending since 2013,” she said.

“With the vigorous efforts by the department during the year 2021, the Finance Department conveyed authorisation for advance drawl of Rs 255.71 crores on February 10, 2022,” added Mudgal.

She said, “The recapitalisation amount has been transferred to the respective banks in partial compliance with the covenants made under a tripartite MoU held between the Government of India, Government of J&K and NABARD.

“Consequently, NABARD transferred the proceeds of the GOIs share of Rs 111.22 crore on March 31, 2022, added the Secretary.

She said for the banks to obtain a licence from the Reserve Bank of India for undertaking banking activities by maintaining a CRAR of nine per cent, this would go a long way.

Mudgal said for the first time in the Union Territory, a huge amount of Rs 366.93 crore has been infused in the three District Central Cooperative Banks of which a requirement was pending since 2013.

Mudgal said that during the current financial year, the department has touched a landmark in registrations, adding that in terms of revival of defunct Cooperative Societies, the Department has out performed itself.

“For the first time in 2021-22, the Cooperative Department has registered 64 FPOs under its Acts,” said the Secretary.

Further counting the achievements, she said the Department has achieved 100 per cent end-to-end digitisation, for the first time departmental portal has been created and it is benefitting the intending beneficiaries to get the registration dome in an online mode within two to three months.

She said, “To meet the manpower crisis, for the first time 91 vacancies of Assistant Registrars has been filled up in the department, the Government has tied with the NCDC, New Delhi and accordingly under the scheme, ‘Development of Commercial

Poultry in J&K’, 35 poultry projects so far of various cooperative societies with an estimated cost of Rs 860.92 lakhs has been sanctioned by the NCDC.
“We are also holding awareness campaigns across the Union Territory to make people know about the department and the schemes and other benefits being provided by the Cooperative Department to make it a more vibrant, profitable and self-reliant wing,” she added.

The Secretary claimed that in the year 2021-22, 525 awareness camps were organised to make people aware about the schemes of other departments with which the Cooperatives can be connected and the benefits of their schemes can be availed.

Meanwhile, she said that in 200-21, audits of 859 cooperative societies were conducted and in 2021-22, of 849 cooperative societies.