Srinagar: The governing body of Cooperative society of J&K state cooperative bank was on Saturday constituted to work for the establishing a new board of the bank, while the officials said that the priority for the new board will be to retrieve the Rs 250 crore loan amount from the society, which didnโt exist anywhere.
The governing body of four members has been constituted today, who said that the previous board had plunged the J&K cooperative bank into trouble.
โWe will ensure that a new board is established shortly that will work to retrieve the loan amounts from the people, who have got loans from the bank and didnโt return till yet,โ Nazir Ahmad Dar, who was elected member of the body, said.
โThe previous board has given Rs 250 crore loan to a society that didnโt exist anywhere while more Rs 20 crore new unsecured loan has been granted in the past. We will work to retrieve the amount from those who have taken the loans, which would be the priority for the new board,โ Dar saidโ(KNO)
