Apex Bank advised to confront competitive market

NAHARLAGUN, Dec 13: Cooperative Secretary Onit Panyang advised the branch managers of the Arunachal Pradesh State Cooperative Apex Bank to “reform their mindset and work hard to sustain in the competitive market in the modern banking scenario.”
Addressing the branch managers and senior officers of the bank during a mid-term review meeting at the ATI here on Wednesday, Panyan cautioned the bank over its high non-performing assets (NPA) position “despite good amount of recovery, due to poor performance of lending under loan policy.”
He advised the branch managers to focus on recovering overdue loans through “constant persuasions with the district administration and certificate officers.” He also directed the management to frame proper loan and HRD policies to streamline the bank.
Panyang congratulated the bank on getting the SKOCH Award for its financial inclusion initiatives, and announced that Aalo and Ziro are the bank’s best performing branches.
Cooperative Societies Registrar Tai Kaye directed the bank’s management to provide training in professional courses to the officials of the bank, and to “make it mandatory to pass the exam for higher grade of promotion.”
He also emphasized on training the bank’s staff on IT and the ENSURE portal to keep them up-to-date, and advised the management to complete the bank’s audit and submit its audited annual report to the government on time.
NABARD General Manager Gyanendra Moni advised the Apex Bank’s management to “computerize the LAMPS under the NABARD finance immediately.” He also advised the management to “improve the audit classification in the coming years and complete the audit in the stipulated time period.”
Apex Bank Administrator Habung Lampung advised the branch managers to remit their surplus fund to the head office for judicious investment under his direct control and supervision. He informed that the management would initiate criminal action against defaulting staff on fraud, embezzlement cases, etc.