Nagaland State Cooperative Bank ( NStCB) earned a record profit of Rs. 837.15 lakh during 2016-17, a significant achievement in the history of the bank. The bank has also set a profit target of Rs.1600.00 lakh for 2017-18 during the 23rd meeting of board of directors of Nagaland State Cooperative Bank held in the board room of the bank on April 28. The meeting, which was convened under the chairmanship of Temjen Toy, IAS, additional chief secretary and finance commissioner, Nagaland and chairman of the bank, reviewed and approved the Developmental Action Plan (DAP) of the bank for 2017-18.
A total of 33 agenda items was placed in the meeting and decision was taken accordingly. The board reviewed the financial parameters of the bank, the CD ratio, issue and recovery of loans and advances, NPAs, implementation of central government/ NABARD and state government sponsored schemes.
The board also reviewed the implementation of latest information technology in the bank and the functioning of existing 11 ATMs of the bank.
Board also resolved to install another 10 ATMs by December 2017 and also to convene frequent meeting of the board with branch officials to review the DAP 2017-18 in order to achieve the projection. The meeting was attended by vice chairman of the bank Kekhwengulo Lea, secretary cooperation, Nagaland Lithrongla. G.Chishi, IAS, registrar of cooperative societies, Nagaland Wepe Ritse, GM (OIC) NABARD, RO, Nagaland Ashoke Chakraborty, managing director Nagaland State Cooperative Bank Ltd, Imtilemba Longkumer, elected board of directors from all districts of Nagaland and professional directors.