The 40th Annual General Meeting of the Tripura State Cooperative Bank was held in the presence of State Chief Minister Manik Saha last week. On this occasion, the Bank presented its annual report and future goals to take the bank to newer heights before the AGM.
The bank is growing year-after-year under the leadership of its Chairman Kamal Kanti and able to achieve a business mix of Rs 5752 crore as on 31st March 2023. Besides, the bank earned a net profit of Rs 22.31 crore in the 2022-23 FY.
The bank has registered growth on all the financial parameters. The deposits of the bank grew from Rs 3060 crore (2021-22) to Rs 3238 crore in the 2022-23 FY. Besides, the advances increased from Rs 2456 crore to Rs 2513 crore as on 31st March 2023.
The net and gross NPA of the bank stood at 0.99 percent and 7.15 percent respectively. The bank earned a gross profit of Rs 84.22 crore in 2022-23. Earlier, i.e. 2021-22, it was Rs 69.97 crore.
On the occasion of AGM, the bank handed over a cheque of Rs 10 lakh to the Chief Minister towards the Chief Minister Relief fund. Besides, the bank sanctioned a loan worth Rs 1.66 crore to Khilpara PACS, Gomati under Agri Infrastructure Fund for building Grain Storage and other activities. It is a part of world’s largest grain storage project of Govt. of India.
The Joint Liability Group (JLG) loan worth Rs 94.80 lakh was also sanctioned to Sonamura Bibhagiya LAMPS. A loan of Rs 50 lakh to Samaj Kalyan PACS and Rs 48 lakh to Champakanchan PACS was sanctioned.
The AGM of the bank also saw the launching of 14 nos of BC points in unbanked areas through e-CSC as well as the launching of Internet banking (view) facility for the customers of the bank.
Sharing details about the future goals, the bank Chairman Kamal Kanti said, “We will open 14 new branches of which license has been already obtained from the RBI. The bank will set up 25 more ATM counters in different parts of the state. The bank is planning to launch Internet Banking (with transaction facility)”, he added.
“Besides, the bank is in the process of recruiting personnel through IBPS. TSCB will also launch an API based account authentication system through NPCI”, said Kanti.
He further added, the present board of the bank took charge in 2019 and at that time the total business of the bank was Rs 4544 crore and now as on 31st March 2023, it stood at 5752 crore.
The Bank has been rendering banking services through its 66 bank branches spread all over Tripura. The latter has a two-tier cooperative credit structure. In the apex structure it is the Tripura State Cooperative Bank and 268 LAMPS & PACS are at the grassroots level (56 LAMPS & 212 PACS).
