Morung Express News
Dimapur | October 25
The Operating Profit of Nagaland State Co-operative Bank Ltd for the year ended 31 March 2019 stood at Rs 914.85 lakh as compared to the previous year of Rs 860.11 lakh
This was stated by the Vice Chairman, NStCB, Kekhwengulo Lea during the 50th Annual General Meeting of the Bank at its office in Dimapur on Friday. He also said that the accumulated loss of the bank was further cut down to Rs 1126.05 lakh as on 31 March 2019 from Rs 2040.89 lakh 31 March 2018.
Further, the Vice Chairman informed that the authorized capital of Rs 20, 000 lakh paid-up capital of the bank increased to Rs 6666.74 lakh as on 31 March 2019 from Rs 6415.62 lakh as on 31 March 2018.
He said that the state government continued to hold the largest stake in the bank with a contribution of Rs 4191.30 lakh constituting 62.42% of the total paid up capital. The owned fund of the bank was Rs 8122.98 lakh as on 31 March 2019 as compared to Rs 7770.48 lakh of the previous year.
During the meeting, the house also considered and approved the Annual Report of Directors for the year 2018-19 and the Auditors Report, Auditors Statement of Account for the year ended 31-03-2019 together with Audit Compliance. The House further approved the Revised Budget for 2018-2019 & 2020-2021.
