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SBI holds 21st annual general meeting
Staff Reporter DIMAPUR, JUNE 26 (NPN):
Published on 27 Jun. 2011 12:46 AM IST
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Registrar of co-operative societies Nagaland, T. Imkonglemla Longkumer said cooperative movement in the country was started in 1904 with a view to help the poor especially farmers in the form of credit structure.
She said this while addressing the 21st annual general meeting (7th triennial general meeting) SBI employees thrift & credit cooperative society, in Dimapur on Sunday. The co-operative organization was first introduced in Nagaland in the year 1946 in Kohima and Mokokchung and was serving those in need until it was disturbed by the emerging Indo-Naga conflicts, said Imkonglemla.
She also said that during 1970s and 80s, apart from its other activities, district wholesale co-operative societies across the districts were the examples of cooperative movement in the state.
She however lamented that co-operative societies in Nagaland have failed to keep up with the rapid changes in the areas of social and economic developments especially those run by one or few individuals, which is contrary to the principles of the co-operative movement.
While disclosing the co-operation department has registered types of co-operative societies, where thrift & credit co-operative society was one of them, she said at present 16 have been registered in thrift & credit co-operative societies in the state with the objective to encourage thrift & co-operation among members, to issue loans to its members at reasonable rate of interest, to borrow funds from the members and to utilize it as loans to other members and to act as agents for purchase of domestic and other requirements etc.
Further, Longkumer said, “Our society is still an evolving society”, and that the idea of credit was still an alien philosophy to many and attributed the lack of credit knowledge as the reason for slow developmental pace in the state.
She appreciated the State Bank of India employee’s thrift and credit cooperative society Ltd., Dimapur which was registered in the year 1988 during the registrarship of Khriezohu Angami for their excellent performances for the past 22 years with the working capital base increased to crores of rupees.
She believed that SBI employee’s thrift and credit co-operative society was now matured enough to foray into other areas and cater to the needy aspects especially in the propagation of thrift and credit spirit. Longkumer added that Nagaland was going through a major socio-economic change where the new generation of entrepreneurs has begun to venture into the market through the availability of micro credit facilities, while on the other hand, unemployment problem has been ever increasing.
It may be noted that the micro-financing has given entrepreneurs and businessmen a platform to venture into new areas and to compete with others. Longkumer challenged the gathering to reach out to entrepreneurs and extend help in the form of extending loan facilities as it would boost the economic activities of the state and tackle unemployment issues to a certain extent.
Earlier, a short encouragement speech was given by guest of honor, Rongenla Sangtam, additional registrar of co-operative society, Ranjan Roy, chief manager SBI Dimapur branch and BG Das Chairman of SBI employees’ thrift & credit co-operative society welcomed all the dignitaries and gave a brief introduction of the society and invited new employees of SBI to join the cooperative society.
Das said employees of thrift and credit co-operative society was functioning excellently with no liabilities, due to active participation of all the board of directors with the managing committee and by the dedicated employees.
Das stated there was no pending loan applications and statement of account to be sent to the customers.
He further urged all to join cooperative society to live a cooperative way of live in this materialistic world.
Later, the 21st annual general meeting (7th triennial general meeting) of SBI employees’ thrift & credit co-operative society Ltd Dimapur was followed by a business session.

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