Says it’s financially sound, CD Ratio at 62.41 % highest in the UT

Port Blair, April 16: The Andaman & Nicobar State Cooperative Bank Ltd. has refuted the allegations on the bank for being bankrupt. In a communication to the media, the Bank said that these allegations are being made by certain group of people to customers in order to mislead the general public.

The communication further said that the A&N State Cooperative Bank is financially very sound and the Controlling Authority of the Bank -RBI/NABARD after examining the soundness of the bank have granted licence to open 9 new branches at Long Island, Junglighat, Nimbutala, Betapur, Kishorinagar, Mahatma Gandhi Govt. College, Wandoor, Burmanallah and Chowra.

The ANSCB has appealed to the general public and customers not to bother for the false propaganda. The Bank is financially very sound and is continuously carrying out its' activities for deposits, loans and advances, adds the communication.