KCCB launches incentive schemes to reduce NPA: Chairman

Kangra Central Co-operative Bank Thursday has launched incentive schemes for its employees to reduce NPA and enhance deposits, as it celebrates its 100th year of establishment.

Many more new schemes for its customers will also be announced by Himachal Pradesh Chief Minister Jai Ram Thakur in the centenary function being organised by the co-operative bank here, KCCB Chairman Rajiv Bhardwaj told PTI.

He also said that during past year till March 31, 2019 the bank has reduced its non-performing assets (NPAs) from Rs 933.21 crore to Rs 834.23 crore and increased net profit by Rs 34.59 crore.

The bank has categorised its branches on one to six scale on the basis of deposits and advances - which range from Rs 10 crore to Rs 100 crore. And the incentives have been fixed between Rs 75,000 crore and 2,75,000 crore for these branches, according to their performance.

The performance will be judged on various parameters, including target achievements in NPA recovery, loan disseverment, growth in digitalisation, profit, deposits etc.

Kangra Central Co-operative Bank, which came into existence on March 17, 1920, is celebrating its 100th year of establishment.

This hundred years old bank has 216 branches, 13 extension counters, 18 Zonal Offices, with 25 lakh customers.

The chairman said the bank, which is only working in the 5 districts out of 12 in Himachal, has become the 81st direct member live on NFS that issue RuPay Cards. It has also adopted ISO 20022 messaging standard format in NG-RTGS payment platform.