The Nagaland State Cooperative Bank Ltd (NSCB) will soon be launching anew scheme called education loan. Speaking at the sensitization program on banking at Baptist High B.K. Thadani, Managing Director, NSCB Ltd said, “We are going to introduce education loan soon”. Thadani informed that NSCB offers service to credit the needs of primary agriculture cooperative societies in the state.
“The Bank has been playing pivotal role for the socio-economic development of the people in our state for poverty elevation,” he said. Bank has been offering services from the last 41 year; the NSCB has offered great help to the rural people particularly to the farmers. In addition, the bank has been carrying out all possible activities to create awareness by developing the habit of thrifts amongst the rural people and extending banking facilities through its branch network spread all over the state.
Times New Roman;font-size:100%;">He also told that the extent of reaching of financial services to the population of the state was very bleak; he added that only 21 percent of the total population has a bank account while the vast majority of 79 per cent population does not have bank account.
“There is tremendous scope for financial coverage if we are to improve the standard of life of the deprived classes of the people,” he said. He also stated that bank has taken possible steps so that persons belonging to low income groups both in urban and rural areas do not face difficulties in opening bank accounts due to procedural hassle, therefore the KYV procedure for opening accounts has been simplified for those persons with balance not exceeding Rs. 50,000 and credit in the accounts not exceeding Rs. 100,000 in a year.
“This (NSCB) is the only bank catering the need of rural masses,” he said. He added to encourage the students to know the value of banking, provisions have been made for the students to open their bank account and get the benefit. Also speaking on the occasion, Kekhwengulo Leah, Board of Director, NSCB Ltd, Phek district affirmed that the bank has been providing best services to rural people as well as financing the youngsters in self-employment related activities.
"If you want to become a successful person, you must know how to manage and how to save the available resources,” he told the students. Presiding over the function, Rajuselie Lhousa, Board of Director, NSCB said the main aim of the program is to make the students aware about the function of the bank and variant facilities being made available to the people.
Earlier, Isaac John, vice principal, Baptist High said chanting prayer while Medophrenuo and Vilalie Zaputuo-u presented special number. The function concluded with vote of thanks proposed by Pankaj Bhattacharjee, Branch Manager, Kohima (Main Branch)
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