Longleng, October 10 (DIPR): The Nagaland State Co-operative Bank Ltd. (NSCB) organized one day Financial Literacy Awareness for the cooperative societies at DC’s conference hall, Longleng on October 10 supported under the FIF managed by NABARD.
The Chief Manager (Cr & Rvy) Bendangnungsang in his keynote address said that the traditional system of banking has been transformed with new system and the NSCB is competing with other national banks to cater to the needs of the people. He regretted that NSCB branch could not be established in Longleng due to non fulfillment of certain norms and criteria, and the people should not feel that the district is deprived of.
Asserting one such criterion he said the Non-Performing Asset (NPA) of Longleng stands at 13% and urged the gathering to reduce the NPA to 5% which is the standard norm for establishment of banks in any place in the country. He informed that the department is trying its best to reduce the NPA to the standard level to setup NSCB branch in Longleng and added that the cooperation and support of the cooperatives are required to fulfill the criteria.
Bendangnungsang also disclosed that under the joint venture of GOI and the state Government ICDP project for five districts in the state has been finalized where Longleng district was also among the five districts. Briefing on the ICDP he said the project is to create job opportunity and self-reliance by adopting incoming generating projects by the cooperatives. He urged the societies to use it judiciously for their benefits.
ARCS Longleng, Chume Chang spoke on the features of Co-operative Societies. He appealed to the registered societies to function properly and said that non-performance of societies would be compelled to cancel their registration. He pointed out that defaulter in loan recovery by the non-functioning societies creates hindrance to other genuine cooperatives. Highlighting on the ICDP projects he announced that only genuine cooperatives that are functioning properly with clean records will be recommended to avail the facilities.
Manager (FIC) V.K. Disong highlighted on the obligatory of Co-operatives. He announced that the NSCB will be celebrating its Golden Jubilee this year in Dimapur and invited the societies of Longleng to attain the program where the best performing Co-operatives will be awarded during the function.
Besides many impediments the NSCB is performing well through the cooperation, support and investment of the people and urged the people to continue with their support. Disong also highlighted on social security schemes such as Pradhan Mantri Jan-Dhan Yojana, Prandhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana. He appealed to the gathering to avail the facilities provided by the Government for the people.
The program was chaired by Lanuniken, Manager, BSCB Ltd Changtongya. The program was attended by the cooperative societies of Longleng district. The program culminated with healthy interaction between the cooperatives and the officers.
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