Ashok Sharma seeking personal intervention of the J&K State Governor to save the cooperative movement in J&K

Jammu, :- National Coordinator AICC Vichar Vibhag and former legislator Mr. Ashok Sharma while seeking personal intervention of the State Governor S. P. Malik to save the cooperative movement in J&K said that village/farmer/cooperative societies are the backbone of improvement of the quality of the life of the rural people, any effort to derail the achievements made, infrastructure created and branches established by the Jammu Citizens Cooperative Bank shall be detrimental to the interest of common man.
Mr. Sharma added that it took around 100 years to develop the cooperative movement in the province, on the one hand, the government has announced the revival package for Cooperative Banks to strengthen the cooperative movement, but on the other hand the present board of the directors of the Jammu Central Cooperative Bank LTD. is trying to weaken the Cooperative movement by closing the branches of the bank. The multipurpose cooperative societies of the bank are the share holders of the bank and the present Board of Directors of the bank is trying to close these societies. The cooperative societies of the bank constitute the general body of the bank and without these cooperative societies the bank will lose its identity.
Mr. Sharma further added that the present Board of Directors is going to close some branches of the bank with received deposit from the poor farmers and the deposit is amounting to around rupees 300 crore, it will not be possible for the bank to pay this much amount to the depositors at a time. Moreover, the public will come on the road and severe agitation will be raised against the bank. The other branches of the bank will also be affected by this agitation and it will be difficult to run the normal routine work of the branches. The present Board of Directors of the bank is also trying to put for action the bank building at rail head complex and parade branch this may not be in any way beneficial for the bank.
Mr. Sharma also said that the license of the bank has been expired since 2012 the present board of directors of the bank should use the revival package announced by the government of India judiciously by introducing the CBS and renewable of the license by RBI instead of losing the bank branches and the sjare holders cooperative societies.