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Saturday, February 29, 2020

J&K govt can now appoint administrator, professional board for cooperative banks for two years

At present, the Jammu and Kashmir government can make appointments for a period of only six months. 

By: Express News Service | Jammu | Published: December 17, 2018 9:15:33 pm
Governor Satya Pal Malik held the SAC meeting on Monday. (Photo credit: Express file photo) Governor Satya Pal Malik held the SAC meeting on Monday. (Photo credit: Express file photo)

The State Administrative Council (SAC), headed by Governor Satya Pal Malik, on Monday amended the Jammu Kashmir Cooperative Societies Act, 1989, empowering the government to appoint an administrator or a board of management to oversee affairs of Cooperative Banks for two years.

At present, the government can make appointments for a period of only six months. Besides this, there is no provision in the act for the appointment of members of Professional Boards as may be necessary to manage the affairs of the District Central Cooperative Banks (DCCBs), an official spokesperson said.

The amendment in the act will help to implement various revival packages of the central and state governments for such banks, the spokesperson added. It will also enable the Government constitution of Professional Boards for three district DCCBs viz; Jammu, Baramulla and Anantnag Central Cooperative Banks for management of their affairs and judiciously use the recapitalization amount of Rs 366.71 crore for attaining and maintaining a Capital to Risk Assets Ratio (CRAR) of nine per cent.

Besides this, the SAC also approved the Jammu and Kashmir Self Reliant Cooperative Bill, 2018, seeking to regulate the activities of the Self-Reliant Cooperatives and protect the interests of the members/depositors.

Observing that some societies indulge in banking activities without the permission of the concerned authorities and have duped several depositors in the process, the spokesperson said that there is no provision in the Jammu and Kashmir Self-Reliant Cooperative Act, 1999, which permits the registrar to cancel the registration of the society which continues business beyond the purview of law. New sections are being inserted to not only simplify the procedures but also provide aid to attain the objectives of the cooperatives without any hindrance, he added.

The Jammu and Kashmir Bovine Breeding Bill, 2018, was also approved in today’s meeting, paving the way for the introduction of high pedigree bulls for breeding and quality livestock. There are around 60 semen stations in the country, 40 of them being considered the top ones.

However, no provision for regulating the use of bovine semen doses procured from outside the state was added, leading to apprehensions over the spread of diseases and degradation of livestock. A breeding bull infected with a disease can infect one lakh cows if used for artificial insemination (AI).

The implementation of bill will encourage the use of disease-free, high-pedigreed bulls for breeding programmes and also prevent the spread of sexually transmitted diseases to 18 lakh breedable bovines of the state. It will also discourage quacks from providing AI services and other breeding services in the state.

The bill will also serve as a tool for regulating the import of bovine semen from unregistered semen stations, private AI workers and other bovine breeding service providers.

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