Guwahati: In Conversation with Dambaru Saikia, Managing Director, Assam Cooperative Apex Bank Ltd

Dambaru Saikia, the managing director of Assam Cooperative Apex Bank, expressed thanks for the team's seamless service in an interview with business-northeast on the occasion of the bank reaching 75 years of existence. He also expressed gratitude for the Assam government's efforts to strengthen the cooperative bank of Assam.

BNE: Can you explain the functionality of Assam Cooperative Apex Bank?

MD: The Assam Cooperative Apex Bank Ltd. was founded on December 7th, 1948. As of December 7, 2022, it has been in operation for past 75 years.

We are a state cooperative bank. Such banks in Assam offer short-term lending with a two-tire structure.

 Apex Bank is at apex level. There are specific groups at the local level known as primary agricultural credit societies. These packets provide the consumers immediate amenities.

Through such connected packs, the bank has been providing financing to rural farmers for the production of a variety of crops. Additionally, it offers direct services to each member.

We furthermore provide a variety of loan and deposit plans.

Further, if we are able to reach the rural regions, the bank will continue to make large profit as it has in previous years.

Currently, the bank is doing well financially.

BNE: Any new upcoming offers or schemes?

MD: Two mobile banking vans have been launched by the Assam chief minister and a number of senior cabinet members. These vehicles, in my opinion, will meet people's financial demands, supporting digitalization in the present.
These vans will be travelling to all areas of Assam's districts. Through these mobile bank Vans, common folks will be able to perform transactions.

"We are currently in the process of introducing IMPS services, and it is expected to be live in this same month of December."
Additionally, we are probably going to introduce two more loan and deposit programmes (at least one of each) for the general public, along with some pretty intriguing deals.

Since the financial institutions must meet a number of requirements, the Reserve Bank of India (RBI) has started the licencing procedure. Financially, we have already met the requirements. Soon after receiving the RBI's licence, we'll be able to launch mobile banking.

Plus, we are probably going to introduce two more loan and deposit programmes (at least one of each) for the general public, along with some pretty intriguing deals.

BNE: What are the criterias required for commercial banks?

MD: As CM Himanta Biswa Sarma stated, there are certain requirements to include banks under the 2nd schedule of the RBI Act.

Among all the other criteria, including both financial and non-financial ones. Despite obstacles in non-financial sectors, the bank is currently concentrating on the non-financial ones.

The bank has been operating with ease under the active direction of Chairman Biswajit Phukan.

We are also attempting to enforce legal requirements on the defaulting borrowers, which will eventually aid us in recovering from the NPAs. Right present, NPAs are the main worry since they have been a barrier to meeting some criteria.

BNE: What is the bank's current progress rate?

MD: The bank is currently on a successful path. The COVID 19 epidemic did leave a gap on the graph, though.

Over the previous two years of our service after the review, we have generated a sizable profit. A net profit of Rs. 15.5 crores was realised in 2020–21.
The bank made a profit of 14 crores of rupees also the year before. The bank's overall deposits exceed 3,400 crores of rupees, while its total loans exceed 1,400 crores.
We have a strong asset return.
However, the bank's human resources division has to pay a bit more attention.

We have provided 100 appointment letters to the recruits in commemoration of the bank's 75th anniversary.

With such steps, the bank will be reinvigorated, and with increased efforts, the bank will forge a new path for its development.

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