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Board members with the chairman during the 293rd meeting of Board of Directors of Nagaland State Cooperative Bank held in the Conference Hall of Chief Secretary, Nagaland on September 20. (Photo Courtesy: NStCB)
Dimapur, September 21 (MExN): The board of Directors of Nagaland State Cooperative Bank (NStCB) in a review noted that during the 1st Quarter it has achieved an overall growth of 3.51%.
As per a press release from AK Deb, Managing Director, the overall growth was 3.51% on deposits with a growth of 3.01% on CASA deposits. Growth on loans and advance was achieved at 10.66% during the quarter with a CD ratio of 68.73%.
This was reviewed in the 293rd meeting of Board of Directors of NStCB held on September 20 in the Conference Hall of Chief Secretary, Nagaland.
Temjen Toy, IAS, Chief Secretary and Finance Commissioner, Nagaland and Chairman of the Bank presided over the meeting. A total of 27 Action Taken Report (ATR) and Agenda items was placed before the Board and decision taken accordingly.
The bank has earned income from interest on loans and advances, to the tune of Rs 1385.49 lakh, from investment Rs 173.33 lakhs and other income Rs 13.19 lakhs culminating to a gross income receipt of Rs. 313.26 lakhs. The bank has incurred an expenditure of Rs. 1258.75 lakhs. The gross income of Rs. 1572.01 lakhs of the bank up to the quarter after providing for total expenditure of Rs.1258.75 lakhs has netted an income of Rs. 313.26.00 lakhs as on 30 June 2019.
The Board also approved the notice of 50th Annual General Meeting and fixed the date for convening the meeting on October 25.
Kekhwengulo Lea, Vice Chairman, NStCB, L. Akato Sema, IAS, Commissioner & Secretary, Nagaland, Wepe Ritse, RCS, Nagaland. L Leivang, GM (OIC), NABARD, RO Nagaland, R. Lipoktoba Aier, MD, NStCB and elected Board of Directors and Co-opted Directors were present in the meeting.
