Tag: branches

JK Bank Has 100 Branches In Srinagar Zone

[ad_1]
SRINAGAR: With the latest addition of a new JK Bank branch in Srinagar, the JK Bank has croseed the new milestone of having 100 branches of the bank in the Srinagar zone.
As part of its measures to enhance ease of banking for its growing customer base, JK Bank dedicated the new branch for public at Tengpora, Srinagar. The latest addition has taken the branch count in Srinagar zone to one hundred.
The Bank’s General Manager and Divisional Head (Kashmir) Tabassum Nazir inaugurated the branch in presence of Zonal Head (Srinagar) Shabir Ahmad, Cluster Heads Shabir Ahmad Bulla & Asmat Ara, and Branch Manager Syed Irrum amid a gathering of senior citizens and local businessmen.
Highlighting the Bank’s sustained efforts to enhance ease of banking across its areas of operations, GM Tabassum Nazir told the gathering, “It is a significant occasion for J&K Bank to have established 100th branch in Srinagar Zone. We at J&K Bank always devise plans to ensure new banking touch-points are commissioned in line with the needs of our customers.”
While urging the customers to avail all the available facilities, she assured them of best services including that of digital banking. “We attach great importance to your association with our bank and shall continue to add value to this bond by ensuring best customer services in physical as well as digital domains of banking” she said.
Zonal Head Srinagar impressed upon the staff to live up to the expectations of the customers. “On this occasion, I assure you that the staff posted here shall extend full support towards the financial progress of Tengpora and its adjoining area,” he told the gathering.
Notably, besides the business community in and around Tengpora, the newly established branch will also cater to areas like Gangbug, Mushtaq Colony, Galwanpora, Mahrajpora, Moominabad, Muslimabad and Naveedabad.
Local residents and business community hailed the Bank for opening of the branch in the area stating that such initiatives strengthen the association between people and the Bank.

[ad_2]
#Bank #Branches #Srinagar #Zone
( With inputs from : kashmirlife.net )

May 2, 2023
AP: CID conducts searches at 37 branches of Margadarsi across State

[ad_1]
Mangalagiri: The crime investigation department of Andhra Pradesh conducted searches at 37 branches of Margadarsi Chit Funds Pvt Ltd (MCFPL) across the State on Saturday, for alleged financial irregularities.
As part of the State government’s continuing probe, CID teams were deployed to conduct extensive searches of financial records and documents in the 37 branches of Margadarsi, said AP CID chief Sanjay.
“In continuation of investigation in cases registered against Margadarsi on April 29, the CID is conducting searches at the following 37 branches of MCFPL,” Sanjay said in a statement.

The AP CID had earlier raided multiple offices of the company last month on alleged irregularities, including diversion of depositors money into mutual funds and speculative markets for personal gain.
Subscribe us on
[ad_2]
#CID #conducts #searches #branches #Margadarsi #State
( With inputs from www.siasat.com )

April 29, 2023
AP: CID conducts searches at 7 branches of Margadarsi Chit Funds

[ad_1]
Andhra Pradesh: The Crime Investigation Department (CID) of Andhra Pradesh on Wednesday conducted search operations at seven branches of the Margadarsi Chit Funds Private Limited (MCFPL) across the State.
“These search operations were undertaken as part of an investigation into the cases registered by AP-CID against seven branches of MCFPL under sections 420, 409, 120(B), 477(A) read with 34 IPC and Sec 5 of APPDFE Act-1999 and Sec 76, 79 of Chit Funds Act 1982,” an official release stated.
During the searches, the book of accounts and documents including electronic documents pertaining to the case were scrutinized, the release stated.

Further investigation is underway, it stated.
Earlier on March 28, the Andhra Pradesh’s CID served notices to Cherukuri Ramoji Rao, the Chairman of Margadarsi Chit Fund Private Limited and his daughter-in-law and Managing Director Sailaja Cherukuri in connection with the Chit fund scam.
As per the notice, the said persons have been asked to be present at their residence/office on March 29 or March 31 or April 3 or April 6 and cooperate with the investigation.
Last November, Andhra Pradesh’s Registration and Stamps Department said that there have been malpractices in the functioning of chit fund companies in the state and show cause notice would be issued to those who have violated the rules.
V Ramakrishna, Inspector General (Registration and Stamps Department) had said forensic auditing will be carried out in Margadarshi chit fund companies at a press conference.

The official had said that the Stamps and Registrations Regulatory Authority will be the nodal agency for chit-fund institutions and carry out regular inspections.
He had said the department conducted inspections at 12 chit fund companies on October 21, five organisations were inspected on October 31 and 18 units were inspected on November 15. He had said a total of 35 units have been inspected.
Ramakrishna had said that irregularities included using money borrowed through chit fund for “other purposes”
“Showcause notices will be issued to companies that have violated the rules, including the guidelines of the company. We will take further action after getting the reply to the show cause notices,” he had said.
[ad_2]
#CID #conducts #searches #branches #Margadarsi #Chit #Funds
( With inputs from www.siasat.com )

April 20, 2023
AP CID raids Margadarsi Chit Fund branches over financial irregularities

[ad_1]
Amaravati: The Andhra Pradesh Police CID has registered multiple FIRs against Margadarsi Chit Fund Pvt Ltd for a string of alleged irregularities, including diversion of depositors money into mutual funds and speculative markets for personal gain, an official said on Saturday.
Naming the chit fund’s chairman and media baron Cherukuri Ramoji Rao, company director Sailaja Cherukuri and the firm’s branch managers from various locations as accused, the CID termed the irregularities grave in nature.
Multiple CID teams swooped on Margadarsi branches in Visakhapatnam, Rajamundry, Eluru, Vijayawada, Guntur, Narasaraopeta and Anantapur, where searches are continuing.
“In view of the findings which are grave in nature, including the diverting of the subscribers money to mutual funds/speculative markets for their personal gains… the CID had immediately registered the cases and in pursuance of the FIRs, they commenced the investigation of the case,” an official said.
Non-payment of monthly subscriptions, illegal diversion of funds to the corporate office, non-disclosure of revenue and expenditure account and several other irregularities were named by the CID.
FIRs were registered on Friday under various sections of the Indian Penal Code, Section 5 of Andhra Pradesh Protection of Depositors in Financial Establishments Act and Sections 76 and 79 of the Chit Funds Act.
As the regulating power of chit fund businesses, the Stamps and Registration Department started its search of Margadarsi branches in October and November, 2022 along with other such firms.
The CID had also raided the chit fund company’s corporate office in Hyderabad for three days last December, where it unearthed collections from branch offices being funnelled into the corporate office for onward investment into mutual funds which are contingent to risks in the capital markets.

Rao is an influential media baron with interests in multiple businesses, including owning the famous Ramoji Film City in the outskirts of Hyderabad metropolis.
[ad_2]
#CID #raids #Margadarsi #Chit #Fund #branches #financial #irregularities
( With inputs from www.siasat.com )

March 12, 2023
54 Cooperative Bank Branches Made Profit After 33 Years, Govt Says

[ad_1]
SRINAGAR: After a high-level meeting that reviewed the functioning of the cooperative banking sector, the government said while non-performing assets are down as many as 54 branches made a profit for the first time in 33 years. Cooperative Commissioner Yasha Mudgal presided over the meeting.
Lt Governor Manoj Sinha inaugurates 69th Cooperative Week Celebrations
During the review, a DIPR statement said the MD and CEO of District Central Cooperative Banks (DCCBs) apprised that out of 154 branches of all 3 DCCBs none of the branches was in profit during the closing of the previous financial year whereas, during the current year till 31st January 2023, 54 branches are running in profit.
“It was also informed that the Anantnag Central Cooperative Bank has already registered a profit of Rs 70 lakh till 31st January 2023, which is likely to go up to one crore plus at the closing of the current financial year,” the statement said. “This is for the first time in more than 33 years that a DCCB has registered profit. The last period when ACCB registered profit was 1989-90 which was to the tune of Rs 28000.”
The meeting was also informed that the DCC Banks have recovered Rs 44 crore of Non-Performing Assets (NPAs) during the current financial year, so far, and the recurring losses have reduced to 50 per cent as compared to the previous year. Besides, the DCC Banks have also issued fresh lending of Rs 82 crore in the current financial year in different sectors, which will have an impact on increasing the profitability of the branches in the coming months.
The meeting was attended by Registrar Cooperative Societies, Director Finance Cooperative Department, Additional Registrar Cooperative Societies Jammu/Kashmir, Additional Secretary Cooperative Department, MD and CEO District Central Cooperative Banks (DCCBs), Branch Heads and other concerned officials both in person and through video conferencing.
Mudgal directed the department to hold recovery camps at the divisional level in Jammu to recover NPAs on account of Primary Agricultural Credit Societies (PACSs) on a war footing basis during the month of March.

[ad_2]
#Cooperative #Bank #Branches #Profit #Years #Govt

( With inputs from : kashmirlife.net )

February 26, 2023
Residence of Dr Farooq Abdullah, Some JK Bank branches and entire radio colony built on encroached land- Download Name-wise PDF – Kashmir News

[ad_1]
Residence of Dr Farooq Abdullah, Some JK Bank branches and entire radio colony built on encroached land- Download Name-wise PDF – Kashmir News