Dimapur, September 14 (MExN): In line with modern banking, the Nagaland State Cooperative Bank Limited (NSCB) will soon be introducing the Transfer Price Mechanism (TPM) in all its 21 branches across the state.
The introduction will help the state’s apex cooperative bank to asses the actual health and performances of the branches.
The bank has already conducted a training programme on TPM for branch managers (BM) and a similar training programme was held here at NSCB head office on Tuesday, for assistant BMs and accountants. Talking to the Morung Express on the sideline of the training programme, managing director, NSCB, BK Thadani with introduction of TPM in all branches, the bank will be able to streamline funds as well as assess the health of each branch. Basing on the TPM, the MD said that NSCB branches will now be “rewarded” or “penalized” according to the performances and services rendered to the customers, especially the rural and needy people. “With the introduction of TPM, excess fund lying idle in the branches can be transferred to the main office and used for investment, including securities.
Exhorting the bank BMs and accountants to continue to strive to provided the best service, Thadani also stressed on “no-frill” accounts and Farmers’ Club, to cater to the rural villagers and needy. General Manager (inspection) Imtilemba Longkumer and general manager (adm. & vigilance) S Atovi Sema also exhorted the trainees.
Meanwhile, AGM (adm) D Sale informed that the ongoing “recovery drive” of the bank from loan defaulters was in full swing and progressing well. The AGM said that there was not much problem with recovery of loans from kisan credits cards (KCC) and short-term deposits customers, comprising of rural societies and farmers. The main defaulters are those who have availed loans under mid-term and allied agriculture and construction. Sale however said the mindset of Naga people is also changing and that they are realizing that bank loans are not “subsidies” but should be repaid.
