SFC waived off Rs. 1132 Cr loan on the behest of Govt under different amnesty schemes
JK News Today
Jammu November 04:
After assuming the charge as Managing Director State Financial Corporation, Rajesh Kumar Shavan took a review of the functioning of the Corporation at SFC Head Quarters wherein during the meeting it came to fore that Government has waived off Rs. 1132 crore on the behest of Government under different amnesty schemes.
As per the details available with JKNT, the Review Meeting was attended by all the District Managers and the personal staff of the Managing Director.
In the meeting Arshad Habib Jallu, Chief Manager, gave a presentation of the functioning of the department. While deliberating upon the functioning of field units, the MD laid thrust on recoveries of loans by concerned District Managers. He said that every penny of the Government needs to be recovered at an earliest. It was informed in the meeting that the capital contribution of the Government stood at Rs. 172.88 crore as equity. Besides an amount of Rs. 577.21 crore stood advanced as loan under different schemes. It was further informed that an amount of Rs. 1132 crore has been waived off on the behest of Government under different amnesty schemes, but unfortunately against these waivers no special assistance or matching share was reimbursed to SFC despite repeated assurances.
Mr. Shavan directed the field functionaries to get the details of each case District wise and scheme-wise whereunder cases have been settled and accounts closed, the same details be put on the official website of the department for information of everyone. The MD directed to complete the exercise within one month.
Besides discussing the financials of the Corporation, the other issues pertaining to re-organising and rationalization of the cadre were also discussed.
The District Managers raised the issue of Non Payment of salary budget by the Government and also reimbursement of simple interest amount of Rs. 23.00 crore which was earlier committed by the Government. However, the MD assured the participants that the issue will be taken up with Government. The Supervisor(Legal) was also directed to make out the list of all pending court cases and ensure that the reply/objections are filed in each cases so that the action of the Corporation is defended in the Courts.
The issue of digitization of records was also discussed and the Managing Director put emphasis on its early completion.
Those who attended the meeting includes Chief Manager, LBO(S), Assistant Manager, LBOS, District Incharge, Baramulla, District Incharge, Pulwama, Personal Staff of MD & Other senior staff of the District Offices also attended the meeting.
