Kohima, June 28 (MExN): Buoyed by positive result last fiscal and other achievement in recent times, the Nagaland State Cooperative Bank (NStCB), Board has approved the Development Action Plan (DAP) for the financial year 2019-20 projecting a profit of Rs. 1500.00 lakh (15 crore).
It amounts to a growth of 65.37% over 2018-19 as on March 31, 2020, stated an NStCB’s release adding that the plan was approved during its 292nd meeting of Board of Directors chaired by Temjen Toy, IAS, Chief Secretary and Finance Commissioner, Nagaland and Chairman of the Bank on June 27.
Kekhwengulo Lea, Vice-Chairman of the Bank; L. Akato Sema, IAS, Secretary Cooperation and Municipality, Nagaland; Wepe Ritse, RCS, Nagaland; SK Dhumal, GM (OIC), RO Nagaland, Lipoktoba Aier, MD, NStCB and elected Board of Directors, among others, attended the meeting held at the Conference Hall of Chief Secretary, Kohima.
The Board deliberated upon agendas pertaining to agriculture and rural development, the release informed, and decision taken were taken on a total of 30 Action Taken Report and Agenda items were placed at the meeting. The working and financial parameter of the bank was also discussed and resolution were also adopted.
Meanwhile, the Board lauded the Management on achieving a very good progress in SHG Bank linkage under National Rural Livelihood Mission (NRLM), a flag ship programme of the Government of India, the release said.
The bank was awarded National recognition commendation for outstanding performance in SHG Bank linkage during the year 2018-19 by the Ministry of Rural Development, Government of India.
The Board desired that such effort may continue and assured all possible support in this regard for the upliftment of the poorer section of the society and rural economy of the state, it added.
Meanwhile, the Board also bid farewell to SK Dhumal, GM (OIC), NABARD RO Nagaland and Ex-Officio Board of Director of the Bank who will be superannuating on July 31.
During the last fiscal (2018-19), NStCB earned a record profit of Rs 907.03.lakh and its annual branch manager’s conference in April 26 under the theme, ‘NStCB to a new height’ had set the Rs.1500.00 lakh under DAP-2019-20.
