Kohima: Noklak district which became Nagaland’s twelfth district on January 20, 2021, received its first state-level cooperative bank in Noklak town on Thursday.
Located in the Kiamngan ward, the new Nagaland State Cooperative Bank (NStCB) was formally inaugurated by MLA and chairman of the District Planning and Development Board (DPDB) P Longon.
While it is the first branch of the NStCB in Noklak, it is the twenty-second in Nagaland.
Addressing a gathering during the launch event, Longon noted that the opening of the bank’s branch at Noklak is a milestone for the locals. As the economy of the district is based on agriculture and related activities, he hoped that the opening of the new branch will boost the Noklak economy.
While recommending the bank staff to guide residents in promptly following banking protocol, Longon also encouraged the public to open new bank accounts, avail beneficial offers, acquire loans for entrepreneurship and make timely repayment.
MLA Benei M Lamthiu, who was also present at the launch, explained that the opening of the new bank is aimed at financial inclusion and income generation. Earlier, he had inaugurated the NStCB ATM booth at Noklak town.
Managing Director of NStCB, Bendangnungsang claimed that the bank aims to help customers achieve financial security. He also briefed the gathering about the bank’s security schemes, cash deposit ratio and non-performing assets.
Arikumba, Deputy Commissioner of Noklak, while noting that although the bank’s staff may initially face difficulties in informing every uninitiated resident about performing banking tasks, requested them to offer full support.
General Manager of the National Bank for Agriculture and Rural Development, Tiakala Ao, also hoped that the bank will cater to the remotest clients and guide them in availing the benefits of various financial schemes.
Vice Chairman, NStCB Kekhwengulo Lea, President Khiamniungan Tribal Council M.Thango, Former Vice-President Khiamniungan Tribal Council, L.L Buming, and President VDB Block Union Panpan also spoke at the event.
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The programme was chaired by GM NStCB Jonah Sema and the vote of thanks speech was delivered by Chume Chang, Joint RCS, Tuensang.
Locals confirmed with EastMojo that although the NStCB bank inaugurated on Thursday is their first branch in the Noklak district, it is not the first time that the district has had a bank. Other banks such as the State Bank of India (SBI), have already been operating in the district.
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