Bank Chairman Kuldeep Singh Pathania said that the Managing Director has been asked to take necessary action in this regard. Pathania said that Chief Minister Sukhwinder Singh is not only a well-wisher of the employees but also of every section of the society.
DA Hike: The benefit of four percent DA along with arrears will also be given to 1300 employees of Kangra Central Cooperative (KCC) Bank along with the salary of October. Bank Chairman Kuldeep Singh Pathania said that the Managing Director has been asked to take necessary action in this regard. Pathania said that Chief Minister Sukhwinder Singh is not only a well-wisher of the employees but of every section. In the financial year ended on March 31, 2024, the bank has earned a net profit of Rs 64.27 crore even after paying the arrears of about Rs 45 crore of the sixth pay scale of the employees from 2016.
During this period, the deposits and loans of the bank have also increased. In the quarter ended September 30, the profit of the bank is also around Rs 70.18 crore. In the festive season, the bank has given a discount in processing fees in its various loan schemes. Pathania said that by implementing the OTS (One Time Settlement) policy, the bank’s gross NPA has come down from 29.60 per cent as on March 31, 2022 to 23.45 per cent in March 2024, while the net NPA has come down from 15.31 per cent to 7.15 per cent in the same period.
After the good results of the first OTS policy, the board passed orders to implement the new OTS policy prepared by the committee of bank officials till 30 October (for only four months) on the orders of the registrar. This is expected to reduce the bank’s NPA further. After this, loans will be recovered strictly from the loan defaulters without giving any relaxation. The bank chairman expressed hope that after the current OTS policy, the bank’s net NPA can come down to less than five percent and gross NPA to less than 20 percent.
