Reaffirms govt's commitment to ensure subsidies and schemes to poor
Punjab Newsline, Shimla, August 21-
CM Sukhvinder Singh Sukhu presided over a programme in organized to celebrate the 100th anniversary of Jogindra Cooperative Bank in Solan on Tuesday evening. During the event, he unveiled the new logo of the bank and inaugurated its new building, constructed at a cost of Rs. 7.50 crore.
While addressing the gathering the CM extended congratulations to the bank's management and staff for achieving a turnover of Rs. 2000CR which highlights that employees are the backbone of any institution. He commended the bank's efforts in reducing its non-performing assets (NPA) from eight percent to three percent and noted that the bank’s deposits have risen to Rs. 1400CR. However, he suggested that improvements were needed in the bank's one-time settlement policy and emphasized the importance of recognizing and rewarding well-performing branches.
The CM provided insights into the state's financial management, stating that out of every Rs. 100 spent by the present government in this fiscal year, Rs. 25 is allocated to salaries, Rs. 17 to pensions, Rs. 11 to interest payments, Rs. 9 to debt repayment, Rs. 10 to grants for autonomous institutions and the remaining Rs. 28 to capital expenditures and other activities.
