Nagaland : NSRLM Contributes 98 Lakhs Loan To 75 SHGs

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Posted in Featured, Nagaland, Northeast

 

  • NET Web Desk

Recently, in a major development to maintain solidarity and support the state government in celebration of the 75th Anniversary of Indian Independence, the Nagaland State Rural Livelihoods Mission (NSRLM), in collaboration with Nagaland Rural Bank (NRB) provided a loan worth Rs. 98 lakhs to 75 Self Help Groups (SHGs).

While speaking at the occasion, the Joint Secretary, Rural Department, and Mission Director, Imtimenla, stated that State Mission objective was to bridge the trust between banks and the poor.

Accordingly, the State Mission and the banks have contributed equally to make the SHG members “Credit Worthy” over the years.

The Mission Director asserted that State Mission is encouraged by the NRB Chairman’s proactive initiative in providing the loans to the SHGs.

Imtimenla expressed hope that joint effort will continue to escalate financial service coverage, thereby bringing changes in the lives of poor and marginalised.

Currently, there are 246 SHGs accessing financial services from NRB.

Chairman, Head Office, NRB, Mr. V. Venkata Narayana noted that timely repayment of the SHGs is appreciable. He also expressed that NRB will continue to support access to credit linkage to many such eligible SHGs.

The committee comprises of the Bank Manager and the SHGs cadres wherein the committee ensures access to loans by the SHGs and their timely repayment to the Banks.

Meanwhile, to access the loan, each SHG member develop their Household Investment Plan (HIP), consolidated as Micro Credit Plan (MCP) at the SHG level.

Regular handholding on building their knowledge and skills for taking up viable livelihoods is imparted to ensure that the plans are credit worthy.

However, the loan provided to the SHGs on the occasion of 75th Independence Day by NRB is depicted as an encouragement to rural households and the joint collaboration is a step towards universal coverage of Financial Inclusion in Nagaland, as stated by the Chief Operating Officer (COO-Programs), NSRLM, M. Rollan Lotha.

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