Monday, November 28, 2022

NSCB Ltd. registers 4.87% growth

Staff Reporter

Nagaland State Cooperative Bank (NStCB) Limited observed its 53rd Annual General Meeting (AGM) at its head office, NStCB conference hall, Dimapur on Friday.
Presenting the annual report of directors for the year ended March 31, 2022, NStCB managing director, Abhijit Kumar Deb said that the total business of the bank has grown at 4.87% from Rs. 159144.70 lakh as on March 31, 2021 to Rs. 166901.48 lakh as on March 31, 2022.
Under its Development Action Plan (DAP), the bank has achieved an overall growth of 3.38% deposits with a growth of 7.52% on CASA deposits. The bank has also 7.22% growth on loans and advance. Deb said to help the small business/ street vendors, the bank has extended facilities of General Credit Cards (GCC) to 44 individuals amounting to Rs. 22 lakh during 2021-2022.
Speaking at the meeting, Registrar of Cooperative Societies (RCS), Nagaland, Temjen Longkumer emphasized on the need for the banks to reach out to the farmers and educate them on finance management by the banks. While NABARD, General Manager (GM) Tiakala in her speech highlighted various issues and areas that need to be given attention to strengthen the working of the bank. Tiakala added that the Ministry of Cooperation, government of India, has launched a new scheme in August of this FY on computerization of Primary Agricultural Credit Societies (PACS) to increase the efficiency of PACS, bring transparency in their operations.
In conclusion, Tiakala called for everyone to work together in unity for adoption of technology and re-orientation of business strategy so that it could contribute more meaningfully to the financial ecosystem of the state. Vice chairman Kekhwengulo Lea lauded the steady progress of the bank however stressed upon the need to catch up with the face paced world.
At the meeting, Nungsang Aier of Dimapur Branch, H. Kashito Yepthomi, Zunheboto branch and Heroli Sangtam, Kiphire Branch were elected as the new Board of Directors respectively.
During the programme, Board of Directors (BOD) Thsapongkyu Sangtam, Zandi Domta, Kashito Yepthomi and Nungsang Aier representing the cooperative societies of Kiphire, Peren, Zunheboto and Dimapur districts respectively were presented with certificates for their service. Best performing cooperative societies was awarded to Evergeen NBCS ltd. Mangkonglemba, Mokochung. Sukhai village union NBCS ltd. District hill, Zunheboto and Women elite NBCS ltd. Changtongya town, Mokochung.
Best performing self-help groups (2021-2022) were presented to Metanglar SHG, Aoyimkum village, Dimapur. Bedewehe SHG, Sedebasa, Chumukidima. Molungtok SHG, upper Changmari Kohima, High school branch.
In the programme, board of directors Nungsang Aier, confirmed the proceedings of 52nd AGM held on April 8, 2022 while board of directors, Thsapongkyu Sangtam approved the auditor’s report, audited statement of accounts for the year ended March 31, 2022 together with audit compliance and board of directors H. Kashito Yepthomi considered and approved the revised budget for 2021-22 and estimated budget for the years 2022-23 and 2023-24.

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