The 245th meeting of Board of Directors of Jammu & Kashmir and Ladakh Finance Corporation (JKLFC) was convened today under the chairmanship of Arun Kumar Gandotra, Director, elected as Chairman under provisions of Section 19 Sub Section5(a) of SFCs Act 1951.
During the meeting, the Board accorded approval to balance sheet for 2020-21 financial year. The Board, while reviewing performance of the Corporation, emphasized upon the need to exhibit high diligence in optimizing business operations of the Corporation.
The Board asked the concerned for ensuring all possible efforts towards bridging gap between income and expenditure so as to bring the Corporation a vibrant and profitable entity.
The Chairman was briefed by the management of the Corporation regarding the latest highlights, achievements, performance improvement and turn around as well.
The achievements highlighted included zero pendency in Grievance Cell JKIGRAMS, complete implementation of e-Office in the Corporation, e-Tendering for auction of seized assets for recovery of dues from chronic defaulters and e-PRS of the Corporation, implementation of biometric attendance in the Corporation besides computerization process of Corporation through NIC, Telangana.
The Board members hoped that the government will provide necessary hand holding, fund support and related requisite help on the same analogy like all other SFCs of the country.
The Board members further emphasized that the management should study the best practices of the SFCs of the country, as a case study. They also asked for arranging training programmes for the officers and officials of the Corporation in the leading financial institutions of the country for their skill development and managerial orientation.