Holding a record of 49.47% achievement as on March 31, 2014, Nagaland State Cooperative Bank (NSCB) tops among all other banks operating in the state while the bank has also disbursed loans of Rs 10295.73 lakh during the year 2013-14.
This was disclosed by State Principal Secretary and Finance Commissioner and Chairman NSCB, Temjen Toy during the 45th Annual General Meeting (AGM) in its Head Office Conference hall here, Friday as the special guest.
Toy said currently NSCB has 21 branch offices in all the districts through its large network affiliated to Primary Agriculture Co-operative Societies, adding that the bank took pioneering steps to include the excluded masses within the purview of financial inclusion even by relaxing KYC norms during the period of establishment till 1998.
Temjen Toy shared the objectives and functions of NSCB which was brought into existence by the predecessors with twin objectives of putting in place a banking system that encompasses the cooperative principles and friendly financial system of custom and tradition for people.
He said since its inception NSCB has catered the needs of rural poor and given outmost importance to alleviate the agrarian economy of the state. While pointing out the mission of the bank to accomplish financial inclusion, he said the bank had extended its branches throughout the state when most commercial banks having their presence in Dimapur had abstained from venturing out into the inaccessible areas as such venture seemed unviable from business point of view.
Explaining the patronage extended by the State government in nurturing the bank during various phase of development and transforming it to the present status, he said State government being the major stake holder has never hesitated from its responsible in extending support, especially when the bank was under tremendous pressure from regulatory authorities to comply with rules and regulation.
He also said that in order to provide avenues to the poor for bringing their savings into normal financial system and to remit money to their families in villages besides protecting them from the clutches of money lenders, the bank has embarked under flagship programme called “Pradhan Mantri Jan-Dhan Yojana (PMJYD)” announced by Prime Minister on August 2014.
Toy urged the employees and board members to cooperate and serve the people at large and not only for bank. He further acknowledged State government, individual, organizations, management and employees for the help and support.
Meanwhile, V Chelladurai has encouraged the newly elected board members and employees to work with new vision and attain greater heights. The proceeding of 44th annual general meeting was presented by NSCB vice chairman, I Tali Longkumer, approval of audit report by Lemjen Imsong and approval of revised budget by Vikaho Zhimomi.
Election of new board directors was also announced. Short speeches were given by outgoing members, newly elected members and delegates.
Earlier, invocation was pronounced by Pastor Ao Baptist Chruch, while the welcome address was delivered by BK Thadani and vote of thanks by Atovi Sema.
Friday, February 20, 2026