Apex Bank recorded highest public deposits during 2019-20 FY: MD

ITANAGAR, 27 Mar: The Arunachal Pradesh State Cooperative Apex Bank recorded the highest public deposits during the 2019-20 financial year (FY).

“As on date, the public deposit has crossed Rs 381 crore, which is a record and shows the faith of the public in Apex Bank,” MD Tsering Thongdok said while presenting the audited balance sheet and financial statement of the bank for 2019-20 during a meeting held here on Friday.

He also highlighted the challenges faced in recovery of loans in the state due to various reasons, and the steps taken to improve the recovery drives.

The branch managers have been given a fixed “ambitious” recovery target and asked to initiate action against defaulters, he said.

Apex Bank Administrator Habung Lampung, who chaired the meeting, spoke on various improvements made by the Apex Bank in various important parameters. He said the promotional avenues in the bank will be purely linked to performances from now onwards. He said that “basic certificate course in CPCB Level-I has been made mandatory for promotion to higher posts.”

Lampung informed that the managers of the Apex Bank branches within the capital region have been directed to carry out door-to-door loan recovery drives.

Agriculture Marketing Director T Game suggested that the Apex Bank should involve the agriculture department in loan management pertaining to agriculture and allied sectors, so that it can assist the bank in the recovery of agriculture loans.

Expressing happiness over the bank’s substantial improvement in the last few years, especially in extending support to the member cooperative societies, Dikrong LAMPS chairman Bengia Hemanta suggested to the bank to gear up recovery drives.

The meeting was attended by members of cooperative societies, the bank’s advisory board members and officials of the bank.