JAMMU, MARCH 27: Commissioner Secretary, Cooperative, Yasha Mudgal, today chaired a high level Committee meeting at the Civil Secretariat, Jammu, to review the performance and financial health of Cooperative Credit Institutions in the Union Territory for the quarter ended December 31, 2025.
The meeting was attended by Vikas Mittal, Office-in-Charge, NABARD; Manohar Lal, General Manager, NABARD; Mohammad Shafiq Chak Registrar of Cooperative Societies J&K; Representative of Reserve Bank of India; Additional Managing Director, J&K State Cooperative Bank; Managing Directors of Anantnag, Baramulla and Jammu Central Cooperative Banks and other senior officials from NABARD and Cooperative Banks.
Vikas Mittal presented a detailed overview of the financial performance of cooperative banks for the quarter ended December 31, 2025. He also highlighted the progress in implementation of turnaround plans aimed at improving the financial health and sustainability of these institutions.
The Commissioner Secretary underscored the essential role that rural cooperative banks play in ensuring credit reaches the last mile of the population. She briefed the Committee on several strategic initiatives led by the Union Government, UT Administration and NABARD such as e-PACS, M-PACS, Core Banking Solutions (CBS) and the “Cooperative Among Cooperatives” framework, all aimed at modernising the cooperative credit structure.
Yasha Mudgal further stressed the need for strengthening the cooperative credit structure to ensure financial stability, better governance and enhanced credit flow to the rural economy. She directed for timely implementation of turnaround plans, strict adherence to regulatory norms and improvement in operational efficiency across all cooperative institutions.
The Commissioner Secretary directed the Managing Director of Jammu Central Cooperative Bank (JCCB) to complete the migration audit at the earliest. She further emphasized the necessity of technology-driven reforms, calling for expedited computerisation of Primary Agricultural Credit Societies (PACS), the enforcement of daily day-end operations and acceleration of digital tools like e-KYC, e-KCC and Sahakar Setu.
To ensure these reforms translate into ground-level results, Yasha Mudgal highlighted the importance of consistent monitoring through State Level (SLMIC) and District Level (DLMIC) Monitoring and Implementation Committee meetings. She noted that regular oversight is non-negotiable for successful delivery of these initiatives.
The review also touched upon critical supervisory concerns, statutory compliance and modernization of banking infrastructure. Significant deliberation was held regarding the e-PACS project, formation of new Multipurpose PACS (M-PACS) and the status of credit linkages.
The Commissioner Secretary placed heavy emphasis on building institutional capacity at the grassroots level, addressing cyber security and implementing necessary HR and governance reforms.
