Kangra coop bank celebrates 97th foundation day

Our Correspondent

Nurpur, March 17

Kangra Central Cooperative Bank (KCCB) Ltd, which has 212 branches in five districts of the state, celebrated its 97th foundation day here today.

Presiding over the celebrations, Jagdish Sapiya, chairman of the bank, said the management was taking all steps to redress the grievances of bank employees and fulfil their genuine demands. Announcing enhancement of existing service pension from Rs 3,000 to Rs 7,000 and Rs 7,000 to Rs 15,000 per month to the retired bank employees and officers, he said the Board of Directors of the bank would soon give its nod in this connection.

Sapiya asserted that a service pension scheme for the bank employees had been launched during the present Virbhadra Singh regime, besides their contributory group insurance. He said KCCB was paying good salaries as compared to other nationalised banks and house rent allowance was also being paid to its employees.

He informed the annual profit of the bank which was Rs 52 crore last year would likely to cross Rs 70 crore in the current fiscal year. He claimed the bank management was all set to strengthen the banking system and its network.

The bank chairman said all efforts were being made to reduce Non-Performing Assets (NPA) of the bank and succeeded in reducing it from 22 to 9 per cent. Declining any possibility of further increase in the NPA, he said the bank had also started doing life insurance of the bank’s loan beneficiaries.

On this occasion, Kuldeep Pathania, Vice-Chairman, Rakhi Kahlon, managing director of the bank, RS Bakshi and Bodh Raj, former MLAs, and Ajit Pal Mahajan and Karnail Rana, directors of the bank, were present.