Tripura bank loses business due to demonetisation

‘Agartala:  Tripura State Cooperative Bank (TSCB), which is celebrating its 60th foundation day on Saturday, lost business due to demonitisation of high value currency notes by the central government, officials said here on Saturday.
“Our credit-deposit-ratio (CDR) would have been 57 per cent this year, but because of demonitisation of high value currency notes by the central government the CDR sttuck at 52 per cent,” TSCB Managing Director Swapan Kumar Saha said, adding that “we have received demonetised Rs 1,000 and Rs 500 old notes worth of around Rs 135 cr. With the help of the people and our sincere employees we have overcome the problems that arose due to demonetisation.”
The TSCB, oldest cooperative bank in the NE, was established in 1957 under the Bombay cooperative socities act.
TSCB Chairman Haripada Chakraborty said that currently the bank has 63 branches in semi-urban and rural areas with existing business of Rs 3,475 crore. (PTI)