Morung Express News
Dimapur | January 20
The Nagaland State Co-operative Bank Limited (NSCB) today held its 47th annual general meeting here at its premise at Churches Colony.
Secretary of Co-operation, Lithrongla L Chishi, in her introductory address said 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.
Imtilemba Longkumer, Managing Director of the bank, delivered the annual report of NSCB during the last financial year which 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.
The bank also opened 19,141 number of No Frills Account covering 104 numbers of villages in all 11 districts during the period.
Board of directors including vice-chairman, Kekhewengulo Lea, and shareholders attended the meeting.
