‘Apex Bank recovered Rs 37 crore in year ending Mar 2019’

NAHARLAGUN, Mar 13: Arunachal Pradesh State Cooperative Apex Bank Ltd Administrator, Habung Lampung, has informed that the bank recovered Rs 37 crore in the year ending March 2019.
Addressing a meeting with the bank’s officers at the AP Cooperative Training Centre here on Friday, Lampung said the Apex Bank is focusing on recovery “and cent percent compliance of observations by the NABARD inspection team.”
Expressing concern over the slow growth of Large Area Multipurpose Societies (LAMPS), he said the bank is taking initiative to revive the LAMPS with the help of the state government and the NABARD.
“The bank has substantially improved after striving hard towards recovery, deposit mobilization, and increasing customer base and IT products to enhance customer convenience, in order to compete with other commercial banks,” Lampung said.
Earlier, presenting the bank’s 2020 annual report, Apex Bank MD Tsering Thongdok informed that “the bank has made fair increase in its CASA deposits and turned around its performance in all parameters.”
“Three mobile ATM vanas are in service with support of the NABARD RO, Itanagar. Also, 37 ATM booths will be installed at all the branches of the bank,” he said.
Cooperation RCS Tai Kaye, chairmen and members of cooperative societies, departmental officers, and the bank’s officials attended the meeting.