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NStCB officials are seen during the 48th annual general meeting in its head office, Dimapur, on January 19.[/caption]
Dimapur, Jan. 20 (EMN): Nagaland State Cooperative Bank Limited (NStCB) has registered a growth of 18.70% as on March 31, 2017, against 10.78% as on March 31, 2016. Simultaneously, the bank made an operating profit of INR 837.14 lakh during 2017 that grew almost four times of INR 215.19 lakh of the previous financial year.
NStCB vice chairman Kekhwengulo Lea stated this during the 48th annual general meeting of the bank on January 19 held in its head office in Dimapur. Lea also informed that the accumulated loss of the bank has drastically dropped to INR 2901.00 lakh as on March 31, 2017, as against INR 3738.14 lakh as on March 31, 2016.
Secretary of cooperation Chemrumo Lotha, addressing the members, has emphasised on the need for putting more efforts to take the bank move forward so that it can deliver uninterrupted banking service to the people and work for the economic emancipations of the people, especially the cooperative societies, agriculturist, artisans, the have-nots etc while ensuring financial soundness of the bank.
Managing director Imtilemba Longkumer placed the annual report of directors for the year 2016-17 and on behalf of the Board of Directors placed on record the gratitude to the state government for all help and guidance extended to the bank in times of need. The director also acknowledged the co-operation and help received from the Government of India, NABARD, RBI and other entities.
Registrar of cooperative societies, Wepe Ritse, conducted the election process where Ningsang Aier, Kasheto Yeptomi, and Zandi Domta were elected in the board of the bank representing the PACS of Dimapur, Zunheboto and Peren district respectively and also re-elected director Thsapongkyu Sangtam from Kipheri district.
The bank also bade farewell to the board of directors namely Lemjen Imsong, Yemba Chang and T Vikaho Zhimomi and thanked them for their valued contributions to the bank. Invocation prayer was pronounced by Rev. Dr. Weyiete Lohe and the vote of thanks was offered by AK Deb, general manager (Accounts, MIS).
