The Minister for Cooperatives, Mr. Ram Kirpal Yadav, has directed the Cooperative Banks to connect with more PACS, enable them technologically and digitally, and bring NPAs to zero by speeding up loan recovery. He said that cooperative banks are playing an important role in strengthening the rural economy. Therefore, it is important to develop them as efficient service providers with better financial discipline, transparency and modern technology.
Ram Kirpal Yadav was addressing the Annual General Meeting of Patliputra Central Cooperative Bank Limited, Patna as Chief Guest on Tuesday. He stressed the need to extend the reach of cooperative banks to more PACS (Panchayat Cooperative Cooperatives) so that farmers and common people in rural areas can have better access to banking and financial services.
Emphasizing on strengthening the cooperative movement, he said that strong cooperatives would accelerate rural development and strengthen the vision of a developed Bihar by 2047.
Mr. Yadav laid special emphasis on making the cooperative banks technically competent as per the requirements of the time. He emphasized on accelerating digitalization of banking services and providing convenient and transparent services to customers through modern technology. He emphasized the need to improve the functioning of cooperative banks and develop them as efficient and reliable service providers while maintaining financial discipline and transparency.
Emphasizing the need to review loan recovery, the Minister said that speeding up loan recovery is essential to strengthen the financial health of cooperative banks. Efforts should be made to minimize NPAs and bring them down to zero. He directed that financial discipline, transparency and accountability should be given top priority.
In the general meeting Mr. Ritesh Kumar, Chairman of the Bank presented the details of the achievements and progress of the Bank. Chairman of the bank Mr. Ritesh Kumar, Managing Director Mr. Ankit Kumar, Vice Chairman and Director of the Bank's Board of Directors and other concerned officials and members were present in the meeting.