A Descriptive Study on Financial Performance of Nagaland State Co-operative Bank Ltd

Abstract

The Nagaland State Co-operative Bank Ltd. (NStCB) is a Government of Nagaland undertaking. The foundation of the bank, as an Apex Credit Cooperative Society was laid on 25th October 1966 by Late Akum Imlong, the then Hon’ble Minister for Cooperation. Thereafter, upon granting license by Reserve Bank of India on 6th April 1967, the Apex Credit Cooperative Society was transformed to “The Nagaland State Cooperative Bank Ltd.” and was formally inaugurated on 21st April 1967 with its registered office at Dimapur. The registered office was the only branch of the bank in the state. It was headed by a General Manager with 6 other employees. From a humble beginning, today the bank had made its presence felt in the state with 21 branches across the state. Through a huge network of affiliated Primary Agriculture Cooperative Societies (PACs), the bank have its existence in every village in the state. The bank had to face many challenges and overcome them to get where it is today. During its inception, when most commercial banks could not venture out to the then inaccessible areas that were also unviable from the business point of view besides having their presence in Dimapur-the commercial hub of the state, the Nagaland State Cooperative Bank Ltd. tirelessly worked for delivering banking services in the unbanked areas of the state. This paper intends to study the performance of the Nagaland State Co-operative Bank with special reference to the financial sector by using the audited financial reports of 5 years period 2015 to 2019. The study will be descriptive based on secondary data and will emphasize on the financial performance of the bank.