Nagaland State Co-op Bank approves action plan for 2019-20; projects profit of Rs 1500 lakh

Projecting a profit of Rs 1500 lakh as on March 31 2020, the development action plan for the financial year 2019-20 has been approved by the Board of Directors of Nagaland State Cooperative Bank (NSCB) with a growth of 65.37% over 2018-19, informed bank source.

The development action plan was approved during the 292nd meeting of the Board of Directors. State Chief Secretary and Finance Commissioner, Temjen Toy, who is also the chairman of the bank, chaired the meeting. Dignitaries who attended the board meeting include Vice Chairman of the bank Kekhwengulo Lea, Secretary of Cooperation and Municipality L Akato Sema, Registrar of Cooperative Societies Wepe Ritse, NABARD General Manager (OIC) regional office SK Dhumal, and Managing Director of the bank Lipoktoba Aier.

As much as 30 action taken report and agenda were placed and discussed in the meeting. The Board also deliberated on various agenda pertaining to agriculture and rural development. The Board wants to continue such effort and assured all possible support for the uplift of the poorer section of the society and rural economy of the State.