Business EconomyPosted at: Oct 6 2025 8:15PM


KCC Bank assures depositors of financial stability, announces major reforms

Dharamshala, Oct 6 (UNI) The Managing Director of the Kangra Central Cooperative Bank (KCCB), Jafar Iqbal, today assured depositors and stakeholders of the bank’s strong financial health and reliability, emphasizing that the institution remains fundamentally sound and trustworthy.
Addressing a press conference at the bank’s head office in Dharamshala, Iqbal said that following the suspension of the Board of Directors on the Chief Minister’s instructions, a series of strict reforms have been initiated to make KCCB one of the best-performing cooperative banks in the country.
Presenting a comparative report on the bank’s performance over the past four years, he said that net Non-Performing Assets (NPAs) had come down sharply from 15 percent as of March 31, 2022, to 4.38 percent, well within NABARD’s guideline of maintaining NPAs below five per cent.
The gross NPAs had also declined from around 30 percent in March 2022 to 19 percent now.
The bank has set a target to bring down gross NPAs to below 10 percent by March 31, 2026. Against total NPAs worth Rs. 809 crore, the bank has already made provisions of Rs. 651 crore, demonstrating its capacity to absorb potential future losses.
Highlighting the growing public confidence, Iqbal said that the bank’s total deposits have risen from Rs. 12,647 crore in March 2022 to Rs. 15,433 crore as of September 30, 2025.
Of this, Rs. 9,841 crore belongs to retail depositors, reflecting the bank’s wide customer base and trust among the general public.
Iqbal urged account holders not to be misled by any rumors or misinformation. “This bank has been running successfully on sound principles for over a hundred years. There is no reason for panic, your money is completely safe. We are committed to maintaining this trust and emerging as one of the top cooperative banks in the country,” he said.
Outlining future plans, the Managing Director announced that pending promotions and recruitments, which had been delayed since 2017, will be carried out professionally within the next two quarters to address staff shortages.
A new Human Resources (HR) policy is also being drafted to clearly define procedures, roles, and accountability for every officer.
To ensure transparent communication, a designated cell will be established at the headquarters for two way engagement with stakeholders.
Standard Operating Procedures (SOPs) and checks and balances for zonal heads and branch managers will also be institutionalized to strengthen operations.
Iqbal acknowledged that the high level of NPAs had previously hindered the bank’s ability to expand digital services but assured that accelerated recovery efforts and resolution of pending litigation cases will help overcome these challenges.
Expressing confidence in the ongoing reforms, he said that with the state government’s support, KCCB will soon set new benchmarks in financial stability and credibility.
He urged all account holders to avoid rumours and directly contact the designated cell for any clarification.
General Managers Amit Gupta and Rakesh Sharma were also present on the occasion.
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