NAHARLAGUN, Feb 12: “The Arunachal Pradesh State Cooperative Apex Bank Ltd is playing a vital role in developing the rural economy of the State since its inception,” said R D Thongon, Jt. RCS, Department of Cooperation while attending as chief guest in the 30th Annual General Body Meeting of State Co-operative Apex Bank Ltd held here today. He emphasized that all stakeholders of the bank should ensure the safety of Public Deposit while undertaking lending operation for yielding benefit to all. He also cautioned the bank management about the low recovery percentage and expressed his satisfaction over tangible improvement of the bank under the present management.  AGM, NABARD, G Karmakar, advised strengthening the recovery of the bank. He also suggested for timely conduct of audit of the bank as per RBI guidelines.

He requested all the stakeholders of the bank to cooperate in the recovery of NPA loans.

Habung Lampung, APCS informed that the bank is striving hard with target and timeline towards Recovery, Deposit Mobilization, Increasing Customer Base, IT products to enhance customer convenience to compete with other commercial banks. He also informed that bank has set its target for recovery of Rs.50 crore at year ending March 2019.

 Earlier Tsering Thongdok MD Cum CEO while presenting the Annual Report informed that the bank has made increase in its CASA deposits and turn around its performance. 

The house also advised the bank to take drastic action against the defaulting borrowers. AGM release