Nagaland State Co-Operative Banks Ltd. holds 56th annual general meeting in Dimapur.
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DIMAPUR — The 56th annual general meeting of the Nagaland State Co-Operative Banks Ltd. (NStCB) was held on Friday at the NStCB conference hall, Dimapur, attended by the bank’s board of directors and management.
In his address, Commissioner & Secretary of Cooperation, Orenthung Lotha, highlighted that the Indian banking sector today is marked by resilience and growth, driven by rapid digital adoption and various government reforms.
He however noted that the sector continues to face certain challenges, including rising credit costs and increasing incidents of digital fraud.
Public sector banks have shown remarkable improvement in their financial health and are now better positioned to withstand global economic uncertainties, Lotha said.
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Nonetheless, issues such as asset quality management, capitalisation pressures, and protection against cyber threats remain areas of concern, he added.
He also pointed out that public sector banks have strengthened their asset quality with a reduction in gross Non-Performing Assets (NPA) and improved capital-to-risk asset ratios. This resilience, he said, is supported by government-led reforms such as the EASE (Enhanced Access and Service Excellence) framework.
Additionally, the commissioner & secretary said that the banking sector is also undergoing rapid digital transformation, with nearly all new account openings in rural India now being completed digitally and stated that the shares of digital payments continues to grow significantly, as technology is increasingly leveraged to provide faster, safer, and more efficient banking services.
He further noted that India’s banking landscape is diverse, comprising public sector, private sector, small finance, foreign, and payment banks, along with numerous Non-Banking Financial Companies (NBFCs) and other financial entities that contribute to the sector’s dynamism.
Speaking on consumer behaviour, Lotha noted that Indian consumers have traditionally preferred bank deposits for their safety and reliability, with a large share of household financial assets held in deposits.
Despite the sector’s positive outlook, he cautioned that concerns remain over asset quality due to high inflation affecting corporate demand and pricing power.
He further warned of the growing threat of digital frauds, including the use of “mule” accounts, which expose banks to financial and reputational risks and emphasised the need for stronger cyber-security measures.
The annual general meeting also featured short speeches by Bokato Hesso, Registrar of Cooperative Societies, Nagaland, and P Bulte, GM (OIC) of NABARD, RO Nagaland.
The annual report of directors for the year 2024-25 was read out by Abhijit Kumar Deb, Managing Director of NStCB, while the auditor’s report, audited statement of accounts for the year ended March 31, 2025, was presented by the board of director LN Ngullie.
The revised budget for 2024-25 and estimated budget for the years 2025-26 and 2026-27, was highlighted by board of director Imtiyapang, and vote of thanks was delivered by Abhijit Kumar Deb, Managing Director of NStCB.