Nagaland State Co-operative Bank Limited (NSCB Ltd) on Friday held its 47th annual general meeting here in its premises, Churches Colony, Dimapur.
During the meeting, secretary of cooperation Lithrongla L Chishi (IAS) said that the bank has made improvements in the recent years and with the advent of the drive to move towards a cashless society, there is a need for the bank to sensitize people about digital payments by holding seminars and other capacity building programmes.
Managing Director of the bank, Imtilemba Longkumer on behalf of principal secretary and finance commissioner Temjen Toy delivered the annual report.
He mentioned that the bank during the last financial year ended with an operating profit of Rs. 215.92 lakh against Rs. 57.56 lakh comparing to the financial year 2014-15 showing an increase of 275.12%.
The increase in the operating profit has led to decrease in the accumulated loss of the bank from Rs. 3954.05 lakh to 3738.14 lakh and CRAR increased from (+) 9.68 to (+) 9.97, informed Longkumer. He said the bank also opened 19,141 number of No Frills Account covering 104 numbers of villages in all 11 districts during the period.
Earlier, God’s blessing was invoked by Pastor, Lotha Baptist church, Dimapur Rev. Zanao Mozui, while short speeches was delivered by outgoing BODs, elected BODs and delegates.
During the occasion the Bank introduce two new schemes viz Saving Premium Deposi, which was launched by vice chairman of the Bank on behalf of Temjen Toy, IAS, Principal Secretary & Finance Commissioner & Chairman of the Bank and General Credit Card (GCC) for non agriculture purpose launched Lithrongla G Chishi, IAS, Secretary Co-operation, Government of Nagaland
The board of directors, vice-chairman, Kekhewengulo Lea and the shareholders besides others attended the meeting.