Nagaland NStCB holds 56th annual general meeting

Nagaland State Co-operative Bank (NStCB) held its 56th Annual General Meeting (AGM) at the bank’s Conference Hall, Head Office, Dimapur, on Friday.
Delivering the keynote address, Commissioner& Secretary, Cooperation, Nagaland, Orenthung Lotha, highlighted that the Indian banking system today is marked by resilience and growth, driven by digital adoption and various government reforms. However, he noted that the sector continues to face challenges such as rising credit costs and increasing incidents of digital fraud. Despite these challenges, Lotha said that public sector banks have displayed improved financial health and are well-positioned to withstand global economic uncertainties.
Citing that there are around 29 crore cooperative members across India, he emphasized the need for the NStCB to stay at par with national standards by adopting digital solutions such as Unified Payments Interface (UPI) and Digital Banking System to attract more customers.
He also cautioned against the growing threat of cybercrime and informed that, as per RBI’s directive, banks must change their domains by October 31 to strengthen cyber-security.
Encouraging stakeholders to continue doing business with the bank, Lotha remarked that the NStCB’s current profit of Rs. 12 crore could multiply if everyone worked collectively and with greater dedication.
Delivering the closing remarks, vice chairman, NStCB, H. Kashito Yepthomi, who chaired the programme in the absence of chairman, NStCB, and Finance Commissioner, Kesonyu Yhome, expressed satisfaction over the increasing participation of shareholders in the AGM each year. He also lauded the Managing Director and the team of officers and staff for their dedication, and reminded that the strength of any cooperative institution lies in its shareholders.
Yepthomi encouraged members to continue availing loans while also ensuring timely repayment, stating that if NPAs could be brought down to a single digit, the bank would be able to introduce mobile banking systems and UPI services.
During the meeting, Board of Director (BOD) M Manlem Konyak confirmed the proceedings of the 55th AGM, Managing Director, Abhijit Kumar Deb considered and approved the Annual Report of Directors for the year 2024 to 2005, BOD, LN Ngullie considered and approved the Auditors Report, Audited Statement of Accounts for the year ended, March 31, 2025, BOD, Imtiyapang considered and approved the Revised Budget for the year 2024 to 2025 and Budget for the years 2025 to 2026 and 2026 to 2027, BOD Herole Y considered and approved payment of Dividend for the FY 2024 to 2025, while BOD Wepe Ritse considered amendment of Bye-Law Clause 4(b) of NStCB.
Earlier, invocation was offered by Pastor, Town Baptist Church Dimapur, Rev Vilodi Sakhrie, welcome address delivered by General Manager, Administration, Jonah.
Short speeches were delivered by Joint Registrar of Cooperative Socieities, Bokato Hesso, GM (OIC) NABARD, RO, P Bulte, and members of elected Board of Directors and delegates, while the vote of thanks was proposed by MD, Abhijit Kumar Deb.