There are reports coming in that the newly elected Chairman of Uttarakhand State Cooperative Bank Dan Singh Rawat is working on a long term strategy to reduce the NPA of the bank in the next years. Presently, the bank’s NPA exceeds more than Rs 20 crore.
Dan Singh Rawat and Mahvir Prasad who had unanimously been elected as the Chairman and Vice-Chairman of Uttarakhand State Cooperative Bank respectively have vowed to change the situation. “During the current financial year, we have recovered Rs 16.40 crore from borrowers and issued notices to those who have not repaid their loans”, added Rawat.
Hinting at the hard measures the Bank is ready to take Rawat said “Under the Sarfaesi Act, we have taken the possession of loanees’ property and are planning to auction them soon.” In percentage terms the bank’s net NPA is 4.7 percent.
Besides tackling NPA, the Chairman is also eager to take the bank to next level. He said that to compete with nationalized banks, we will provide our customers with Net Banking and Mobile Banking facilities. “We have already sent a letter to RBI in this connection”, he added.
Rawat said farmers will be given loans up to Rs 1 lakh at zero rate of interest and loan melas will also be organized to help farmers and borrowers.
The bank will open five new branches in the next financial year at Rudrapur, Haridwar, Dehradun, Pithoragarh and Bageshwar. Presently the bank has 15 branches across the state.
It is being reported that the apex bank board consists of 13 directors out of which two directors including Kiran Negi and Chairman Dehradun DCCB who have been directors in the past as well and the rest are new comers.
Soon after the election the newly elected team had met the state chief minister Trivendra Singh Rawat and cooperative minister Dhan Singh Rawat. CM congratulated the team on their victory. The term has a five year term.