look news india
DA Hike: 1300 employees of Kangra Central Cooperative (KCC) Bank will be given the benefit of four percent DA along with arrears along with October salary. 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 well-wisher not only of the employees but of every section. In the financial year ending March 31, 2024, the bank has earned a net profit of Rs 64.27 crore even after paying arrears of about Rs 45 crore of the sixth pay scale to the employees since 2016.
During this period, bank deposits and loans have also increased. The bank's profit for the quarter ending September 30 was also around Rs 70.18 crore. During the festive season, the bank has given relaxation 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 reduced from 29.60 percent as of March 31, 2022, to 23.45 percent in March 2024, while the net NPA has reduced from 15.31 percent to 7.15 percent in the same period. .
Following the good results of the first OTS policy, the Board passed orders to implement the new OTS policy prepared by the Committee of Bank Officers on the orders of the Registrar by October 30 (for four months only). This is expected to further reduce the NPA of the bank. After this, the loan will be recovered strictly from the loan defaulters without giving any relaxation. The bank chairman expressed hope that after the current OTS policy, the net NPA of the bank can be less than five percent and the gross NPA can be less than 20 percent.