CM emphasises institutional resilience, financial stability & rural empowerment

Srinagar, July 23: Chief Minister Omar Abdullah on Wednesday emphasized the need for sustained reforms to ensure institutional resilience, financial stability, and rural empowerment across Jammu and Kashmir.According to a statement issued here, CM Abdullah was addressing a comprehensive review meeting on the functioning of Cooperative Banks across Jammu and Kashmir here at the Civil Secretariat.The meeting was attended by Minister for Cooperatives Javid Ahmad Dar, Chief Secretary Atal Dulloo, Additional Chief Secretary to the Chief Minister Dheeraj Gupta, Regional Director, Reserve Bank of India (J&K and Ladakh), Principal Secretary Finance, Managing Director & CEO J&K Bank, Commissioner Secretary Cooperatives and senior representatives from NABARD.During the meeting, the Chief Minister reviewed the current status and functioning of various Cooperative banks.He acknowledged the improved financial performance of the Jammu and Anantnag District Central Cooperative Banks, which have achieved operational profitability but called for other loss-making Cooperative banks to devise a roadmap for recovery which would be examined by the Government for appropriate intervention to revive these banks.The meeting also reviewed key initiatives such as the ongoing PACS Computerisation Project and the formation of new M-PACS, both aimed at strengthening grassroots-level credit delivery and financial inclusion.Earlier, Commissioner Secretary Cooperatives Babila Rakwal gave a detailed presentation on the functioning and progress of Cooperative Banks in J&K