Business

NStCB Board of Directors meeting held

NStCB Board of Directors meeting held
Temjen Toy along with NStCB officials and others during the Board of Directors meeting.
Dimapur, Sep 21 (NPN) | Publish Date: 9/21/2019 11:26:11 AM IST

The 293rd meeting of Board of Directors of Nagaland State Cooperative Bank (NStCB) was held on September 20 in the Conference Hall of Chief Secretary, Nagaland. Temjen Toy, IAS, Chief Secretary & Finance Commissioner, Nagaland and chairman of the bank presided over the meeting in which a total of 27 Action Taken Report (ATR) and agenda items were placed before the board and decision taken accordingly.

The board also reviewed the achievement of the bank during the 1st Quarter and noted that the bank has achieved an overall growth of 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%. The bank has earned income from interest on loans and advances, to the tune of Rs 1385.49 lakh, from investment Rs 173.33 lakh and other income Rs 13.19 lakh culminating to a gross income receipt of Rs. 313.26 lakh. 

The bank has incurred an expenditure of Rs. 1258.75 lakh. The gross income of Rs. 1572.01 lakh 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 lakh as on June 30, 2019.

Kekhwengulo Lea, vice chairman of the bank, L.Akato Sema, IAS, Commisioner & 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. 

 

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