Himachal CM launches Jogindra Bank's J-Mudra Mobile Banking App to encourage Digital India initiative

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Himachal Pradesh Chief Minister Jairam Thakur (File Photo)
Himachal Pradesh Chief Minister Jairam Thakur (File Photo)

Shimla (Himachal Pradesh) [India], May 21 (ANI): Himachal Pradesh Chief Minister Jai Ram Thakur on Friday launched 'J-Mudra' Mobile Banking application of Jogindra Central Cooperative Bank Ltd. to encourage the 'Digital India' initiative.

"Jogindra Central Cooperative Bank has made a business of over Rs. 1700 crore during the financial year 2020-21. The bank has working capital of Rs. 1478.61 crore and is providing banking services to more than 2,17,600 rural people", the Chief Minister said.

The bank has a deposit capital of Rs. 1195.72 crore, loan worth Rs. 525.35 crore and gross Non Performing Assets (NPA) of Rs. 46.37 crore up to March 31, 2021 which is 8.82 percent of the gross loan.

A gross profit of Rs.30.74 crore and a net profit of Rs. 8.94 crore were earned by the bank during the year 2020-21.

The app was launched to provide banking services to customers of rural areas.

As per a press release, the bank presently has 30 branches and one extension counter in the Solan district. The bank also has 495 shareholder members, including 163 agriculture cooperative societies, 219 other cooperative societies, 112 individual members, etc.

The head office of the bank is being constructed by HIMUDA at Solan with a cost of Rs. 3.95 crore. It would soon be completed and facilitate the people of the area, informed the Chief Minister.

Urban Development and Co-operation Minister of Himachal, Suresh Bhardwaj said, "The mobile banking service would ensure better banking services to the consumers besides providing user-friendly services".

The Chairman of the bank, Yogesh Kumar, made the first transaction of Rs. 51000 through 'J-Mudra' app as a contribution towards the Chief Minister COVID Fund on the occasion. (ANI)