Kohima, July 28 (MExN): Chief Minister Neiphiu Rio today suggested to banks to take lead in imparting ‘financial education’ to the masses and also initiate various measures to inculcate the culture of saving, among youth. Rio told this to Chief General Manager, State Bank of India RK Garg. Along with B.J. Sarma, general manager (Network-II) and A.K. Das, regional manager, Garg called on the chief minister at his residence here today.
In keeping with the declaration of the year 2010-11 as the “Year of Entrepreneurs,” Rio said banks should come forward to offer skill development and extend financial assistance to selected aspirants.
Garg reiterated the SBI’s commitment to the State of Nagaland, saying the bank was putting in place ‘appropriate arrangements’ to launch a ‘financial literacy’ campaign. He sought the assistance of the chief minister to activate a nodal department of the state government for the proposed undertaking. He also underlined that the SBI has various products tailored to suit the needs of all sections of the society.
Garg referred to introduction of Cyber Treasury for assisting the government in collecting taxes from traders and business establishments. He also suggested E-Z pay card for payment of scholarships to students ‘which would promote saving habits among students.’
On the implementation of “Year of Entrepreneurs,” Garg assured that ‘bankable schemes’ under industries (manufacturing and services) would be covered under the Credit Guarantee Trust Medium & Small Enterprises schemes for which collateral security up to Rs. 1 crore is waived. He assured to extend the SBI’s expertise to assist the government in market linkages through MoU and tie-ups.
Also, the Chief General Manager said that the SBI is in the process of setting up a Rural Self Employment Training Institute (RSETI) in the state to train youths. If the Nagaland government provides land, a similar institute can be set up in different districts of the state.
Later, Garg and officials of the SBI held interactive sessions with businessmen here at Hotel Japfu this evening where matter relating to bank services and schemes were discussed. Garg said he desired to see Nagaland prosper.
