NStCB Ltd is 2nd largest banking network in Nagaland

• 50% higher interest in term deposit

• 50% higher interest in term deposit

• Record profit of 8 crore during 2016-17


Mokokchung, November 8 (MExN): The Nagaland State Co-operative Bank (NStCB) Ltd Mokokchung Branch organized a business meet in commemoration of the NStCB Ltd Golden Jubilee at the Branch premises on November 4.


NStCB Ltd, Mokokchung, Branch Manager Nchumthung Kikon in a press release said that Sachin Jaiswal, IAS, ADC Mokokchung and Chairman DRLC Mokokchung District, Bendangnukshi, Board of Director, Alangla Tonger DRCs Mokokchung and Amarjit, DDM, NABARD attended the meet.


The Branch Manager noted that NStCB Ltd has grown to be the second largest banking network in the state having 21 branches. He highlighted on the working of the cooperative bank and how the bank has been working along with Government departments on various projects and also how the bank has been actively participating with the community even to the remote villages. While sharing on its products and services, he also shared on the adoption of 3 Golden Villages by each branch and expressed that the bank is ever ready to facilitate for any development of the community through loans and advances where some loans may even be provided on subsidy. When interest on deposits are getting lower, he expressed that NStCB ltd is in fact providing .50% higher interest in term deposit compared to other banks and also 5% on Saving Bank Account.


Amarjit DDM NABARD highlighted on SHPI’s status given to the bank on promotion of SHG’s and how the bank is promoting JLG’s and Farmers Club and conducting FLCC along with NABARD. He informed the house that Dairy based subsidy Schemes have been extended till December and encourage the participants how they can improve their standard of living with such activities.


Alangla Tonger, Deputy Register of Co-operative society, Mokokchung spoke on how the Department and the Bank has been working together since time immemorial and expressed hope that both will continue to serve the people.


M Bendangnukshi Longkumer, Board of Director shared his experience with the bank since 2001 and was happy to see that the bank has grown from loss to a record profit of 8 crore during 2016-17. He also highlighted on how the vision of the then finance minister, cooperation Department and the society had while starting such banking business and how this bank has come to in serving the community even to the remotest areas. He acknowledge how the DAP has come to strengthen the bank performance and express hope that the bank will make another record profit of 16 crore during 2017-18.


Sachin Jaiswal IAS, Additional Deputy Commissioner Mokokchung cited success examples of how the state of Tripura is working in the field of Pineapple and encourage the gathering that Nagaland has more potential then Tripura. He proposed on studying on what best is needed to be done for promoting exports for pineapple, banana and kiwi. He felt that many are in the habit of taking loans and have fallen short in regular repayment due to investment in other project rather than the proposed project.


The VDB Secretary of Mokokchung Village also shared the success story of how the village had progress under the model Village scheme from 2011 and how they have utilize the services of the bank and encourage all the adopted villages to come forward in working along with the bank. NRLM also highlighted on the success of their mission and also thank the cooperative bank for the involvement of the success in the mission.


The programme was chaired by Asenla, and vote of thanks was presented by Temsulepden. The business meet was attended by Council chairpersons of adopted villages, society members, entrepreneurs, SGHs, JLG members and well wishers of the bank.