The National Bank for Agriculture and Rural Development (NABARD) has provided mobile ATM vans to the State-owned Co-operative Apex Bank which should be used judiciously. This was informed by V Thirummalai, DGM, NABARD while speaking in the annual general body meeting of the Arunachal Pradesh State Co-operative Apex Bank Ltd at ATI here on Saturday.
He suggested the management of Apex Bank to implement Financial Inclusion programme in rural and unbanked areas as Co-operative Societies have direct contact with the grassroot level people for which NABARD has provision for assistance under the Co-operative Development Fund (CDF).
He added, “The health of the Primary Co-operative Societies must be improved to strengthen the Apex Bank.” He also suggested to implement various subsidy schemes for economic upliftment of the members of Co-operative Societies.
Deputy Registrar of Cooperative Societies (DRCS) C N Mannoi advised the officials to strengthen the internal checks and control to minimize the banking frauds. He also directed to recover the NPA (non-performing assets) loans, asking officials to seek legal assistance, if required. Assuring all necessary support for improving the bank, he urged the employees to work day and night to improve the financial position of the bank.
Administrator of the Apex Bank, Habung Lampung, who chaired the meeting, directed bank officials to focus on loans recovery and for making door-to-door recovery campaign for the defaulting customers. He informed that the bank has launched various IT based services including ATM booth and mobile ATM van which received good response from the public.
He agreed to work in close cooperation with the senior members of the societies to rebuild the public confidence and improve the bank within three months. He informed the members that Apex Bank is now working on target and timeline with 15 main indicators with recovery being main focus.
Earlier, Apex Bank’s MD cum CEO Tsering Thongdok while presenting the annual report informed that the Bank has made turn around its performance. In the business session, the house adopted the audit report & balance sheet for the year 2016-17. The meeting was attended by the chairmen and members of the Co-operative Societies.