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Officers from the NStCB and Soword during the signing of the memorandum on April 5.[/caption]
Dimapur, April 5 (EMN): The Nagaland State Cooperative Bank (NStCB) has signed a memorandum of understanding (MoU) with the Social Welfare Society for Rural Development (Soword), based in Wezihu of Meluri sub-division in Phek district. The agreement aims to cater to ‘credit needs’ for the improvement of the socio economic condition of the rural people, it was informed.
The MoU was signed with special focus in the un-banked areas of the state. The MoU was signed by Imtilemba Longkumer, managing director of Nagaland State Co-operative Bank Ltd, and Thuchu Pfithu, director of Social Welfare Society for Rural Development, on April 5.
A press release issued by FIC manager, VK Disong, stated that Meluri sub-division has 31 villages and three towns with only one bank branch at Meluri.
It further informed that the bank had been undertaking vigorous initiatives to cover the ‘un-banked’ blocks of the state according to the directive of the Reserve Bank of India.
