It’s a matter of pride that the Manipur State Cooperative Bank (MSCB) is now a vibrant and flourishing Apex Bank of the State that has taken leadership in supporting the farmers and rural economy in the State. With 10(ten) branches in the districts of Manipur, its presence will be further enhanced with the opening of 2(two) more branches in the unbanked blocks of Paomata in Senapati District and Saikot in Churachandpur District. Plans are afoot to open 2(two) more branches in strategic locations at Yairipok Bazar in Thoubal District and Moreh in Chandel District to consolidate its position.
The Board of Management has taken many positive steps to accelerate the growth of MSCB Ltd by canvassing deposits from the public and shares purchase from the stakeholders. The resources thus built up have been redirected to meet the medium-term and short-term credit requirement of the farmers and agriculture sector.
Acknowledging the urgency for adopting technology to provide doorstep and convenient banking facilities on the fingertips, MCSB Ltd has tied up with NABARD to deploy the right technology suitable with the scale and cooperative thrust of MSCB Ltd. The bank is already on CBS platform with RTGS and NEFT facilities. And very soon ATM machines and RuPay cards will be made available to the customers and patrons of MSCB.
The Management is also acutely aware of the need for strengthening manpower of the organization and has infused young blood in the recent times. Trainings were conducted under the aegis of NABARD and Charted Accountant firms to impart necessary skills, concepts and accounting procedures for the benefit of the staff of the bank.
The Bank is also concerned with NPA situation and to contain it, it had engaged Recovery Agents and Agencies which proved to be quite effective in lowering the NPAs.
With sustained efforts of the Management with the contribution of various rungs of the Bank’s staff, the MSCB Ltd is regaining its status as the Apex Bank of the State in the true spirit of the term. It is hoped that in the coming months, the public will see massive transformation of the Bank as a result of proactive measures taken by the Management and support from the State Government.
These are exciting times for MSCB Ltd. I appeal to all the customers/patrons to keep reposing their faith in the one and the only Apex Bank of the Manipur and strengthen the Cooperative movement in the State to reach its potential. In this age of globalization and corporate supremacy in most of the fields, the role of the Cooperative Banks in helping the marginalized farmers cannot be discounted lightly. To counter the challenges of the market driven economy that puts the farmers and rural enterprises at a disadvantage, let’s join hands to usher in a new era of cooperative movement in the State.
Long live MSCB Ltd.
Monday – Saturday
2nd Saturday and 4th Saturday is Holiday as per RBI Guideline since 1st September