BAN and SBI officials during the renewal of an MoU between the two institutions at the SBI Regional Office, Dimapur on January 7.
Dimapur, January 7 (MExN): The Business Association of Nagas (BAN) and the State Bank of India (SBI) renewed their Memorandum of Understanding (MoU) on January 7, extending a collaboration focused on improving access to formal credit and supporting entrepreneurship in Nagaland.
Under the renewed arrangement, signed at the SBI Regional Office, Dimapur, both institutions reaffirmed their commitment to act as catalysts for economic development, a press release received here stated.
BAN will continue to serve as a vital bridge connecting entrepreneurs and business enterprises with SBI’s financial services and products, it said.
On the occasion, BAN President L Mongkum Jamir underscored the association’s continued focus on improving financial literacy among its members and facilitating smoother credit linkages. He also expressed appreciation for SBI’s consistent support in nurturing entrepreneurship across Nagaland and in creating a business ecosystem in the state.
As per the release, a key feature of the MoU is the formalisation of dedicated nodal officials from both SBI and BAN. These designated representatives will ensure streamlined coordination and efficient operations, with a specific focus on enhancing credit access for Farmer Producer Organisations (FPOs), it added.
Hubert A S Wungshim, Assistant General Manager, SBI Regional Office, also highlighted the pivotal role of banking institutions in driving state and national economic growth. “As the lead bank in the region, SBI remains deeply committed to expanding financial inclusion, reaching unbanked areas, and actively promoting entrepreneurial success through strategic partnerships,” he added.
The renewed collaboration signifies a strengthened resolve to bolster Nagaland’s economic landscape by supporting existing businesses, encouraging new ventures, and creating a more accessible financial environment, the release maintained.
