JAMMU, OCTOBER 15: The 5th Annual General Meeting (AGM) of Baramulla Central Cooperative Bank Limited (BCCB) was held today, under the chairpersonship of Yasha Mudgal, Chairperson, Professional Board of Directors (PBOD), BCCB and Commissioner Secretary Cooperative Department.
The meeting was attended by the Additional Deputy Commissioner, Baramulla, members of the Professional Board of Directors, Director Horticulture, Kashmir and other senior officers of the department along with representatives of Primary Agricultural Cooperative Societies (PACS). Dr. Khalid Hussain, Managing Director and Chief Executive Officer, BCCB, made a detailed presentation on functioning of the Bank. He highlighted the significant role of PACS in strengthening the cooperative credit structure at the grassroots level.
During the statutory proceedings, the House unanimously adopted the audited financial statements of the Bank, including the Balance Sheets, Profit and Loss Accounts and related schedules for the financial years ended March 31, 2025 and March 31, 2026. The House also ratified the appointment of M/s IMT & Company, Chartered Accountants, as the Statutory Auditor for the financial year 2026–27, as approved by the Reserve Bank of India (RBI). Addressing the AGM, Yasha Mudgal emphasized that the financial revival of BCCB, improvement in asset quality and restoration of public confidence must remain the foremost priorities of the Bank’s management. She stressed the need for a result-oriented and time-bound approach towards the recovery of Non-Performing Assets (NPAs).
She directed the management to establish clear, branch-wise recovery targets, strengthen the field-level monitoring and ensure accountability at every level. The Chairperson called for a comprehensive borrower-wise review of overdue accounts. She directed the Bank to formulate specific recovery plans for chronic defaulters, supported by time-bound legal and administrative action wherever warranted. Emphasizing the importance of sound credit management, Yasha Mudgal directed the Bank to strengthen its credit appraisal and pre-disbursement assessment procedures, improve post-disbursement monitoring and address deficiencies in loan underwriting.
She also stressed the need for closer coordination with all 92 PACS to facilitate field-level follow-up, improve recovery efforts and reinforce the cooperative credit network. The Chairperson further underscored the importance of financial discipline, prudent resource management and strict adherence to applicable RBI guidelines and prudential norms. She directed the management to exercise greater control over administrative expenditure and take sustained measures to improve the Bank’s financial position, operational efficiency and institutional accountability.
Reiterating her focus on institutional revitalization, Yasha Mudgal stated that the Bank’s turnaround would depend on disciplined execution, transparent functioning and clearly measurable outcomes.
She called upon the management, field functionaries and PACS representatives to work collectively towards strengthening the cooperative banking system and ensuring that the Bank effectively fulfils its role in meeting the credit needs of its members and the wider cooperative sector.
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