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Rural economy through banking
DIMAPUR, November 6:
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Published on 7 Nov. 2008 12:13 AM IST
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A workshop on “prospect of rural economy through banking” was organized by Nagaland State Cooperative Bank Ltd. (NSCB) on November at Phek in the conference hall of DPDB. About one hundred representatives of agricultural cooperative Societies, VDB secretaries, village council chairman of the district participated at the workshop inaugurated by Issac Jamir additional deputy commissioner, Phek. ADC Phek in his inaugural speech has said that NSCB since its inspection was doing its best to uplift the economic condition of rural mass through its network of branches. He lamented that people had failed to acknowledge the contribution of bank that extended credit facilities for their economic development and most of the borrowers have failed to repay their loan. Managing director of the bank B.K. Thadani in his key note address said 70% of state’s population lived in rural area and depended on agriculture for their livelihood, as scope for industrial activities in the state was very limited and therefore development of rural economy was the only prerogative and for which money was required and the bank. He said bank had introduced new deposit and loaning schemes by bringing flexibility in its procedure with a view to bring the rural poor in the fold of banking. Others who attended the workshop included board of director representing Kohima Rajuselie Lhousa; President, Phek district cooperative union, Khosapa Venuh and board of director representing Phek district, Kekhwengulo Lea Beneficiaries of Self Help Group narrated their success story after availing loans from NSCB. Participants in the workshop unanimously resolved to associate with NSCB and to coordinate with the bank for financial inclusion of poor people who do not have access to bank by helping them to open ‘no frill’ accounts and to help the bank in recovery of loans in their respective area by extending cooperation.

 
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