Need for redefining mandate of financial corporations: Drabu

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Jammu, Finance Minister HaseebDrabu has said that there is need for redefining the mandate of state’s financial corporations besides reorganizing their financial, physical and human resources to help them remain relevant in present and projected financial scenarios in the state and nation.

The minister said this while convening a meeting with the representatives of Jammu & Kashmir State Financial Corporation (JKSFC) and J&K State Cooperative Bank (JKSCB) convened to review the functioning of these Public-Sector Undertakings (PSUs), here today, according to an official spokesperson.

During the meeting, the minister was briefed about operations, profitability, services, resource position etc of these corporations besides the problems confronting these corporations.

The meeting held deliberations on the issues related to each corporation.

Addressing the heads of these corporations, the minister said that an intervention is necessary so that these corporations can emerge as financial facilitators for state artisans; agro based and allied activities, MSMEs and others.

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