The Nagaland State Cooperative Bank sanctioned In-Principle Loan amounting to Rs 14.62 crore to 962 beneficiaries under ATL, KCC, SHG, JLG and Bulk Finance for Micro Finance to SME schemes, during the Bankers Conclave/ Credit Outreach Program held in Kohima on Tuesday.
Among others, Union Finance Minister Nirmala Sitharaman attended the conclave. The bank further, extended start up credit linkage to SHGs in each of the five districts viz, Kohima, Chumukedima, Phek, Wokha and Peren amounting to Rs 40 lakhs under the Govt. of Nagaland new Scheme namely “Chief Minister’s Micro Finance Initiative” launched by the Union Finance Minister during the conclave.
On this occasion, Sitharaman also visited the stall of Bade Area Allied Agri Farming Cooperative Society which was supported and financed by Nagaland State Cooperative Bank. The bank’s team led by its Managing Director Abhijit Kumar Deb was also present with officials.
Nagaland & Assam governor Jagdish Mukhi and Chief Minister of Nagaland Neiphiu Rio also attended the conclave.
It is to be noted that Sitharaman, who is on a three-day tour of the north eastern state, also inaugurated a branch of a leading private bank.
It bears recall that the Nabard has lauded the efforts of Nagaland State Cooperative Bank in wiping out the accumulated losses in 2019-20.
