NStCB nets Rs 837.15 lakh profit during 2017
Dimapur, April 30 (EMN): 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, and projected a profit target of Rs 1600.00 lakh under Developmental Action Plan for 2016-18.
This was informed at the 28th meeting of Board of Directors of Nagaland State Cooperative Bank (NStCB) held on April 28 in the Board Room of the bank under the chairmanship of Temjen Toy, Additional Chief secretary and Finance Commissioner, and Chairman of the bank.
Board also 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. Besides, the
Board also reviewed the implementation of latest Information Technology in the bank and the functioning of existing I 1 ATMs of the bank.
Meanwhile, the Board resolved to install another 10 A TMs by December 2017 and to frequently convene meeting of the Board with Branch officials to review the DAP 2017-18 in order to achieve the projection.
The meeting was attended by the Vice chairman of the bank Kekhwengulo Lea, Secretary of Cooperation Lithrongla G Chishi, Registrar of Cooperative Societies Wepe Ritse, GM (OIC) NABARD, RO, Ashoke Chakraborty, Managing Director of NStCB Imtilemba Longkumer, elected Board of Directors from all districts of Nagaland and professional directors.
Board also bade farewell to Ashoke Chakraborty, GM (OIC) NABARD, RO, who has been transferred to Kolkata.