Financial Literacy Camp held in Kohima

Kohima, June 30 (MExN): The Nagaland State Co-operative Bank Ltd. Kohima main branch organized Financial Literacy Camp on June 29 at the Branch premises. The camp was supported by FIF and managed by NABARD.   The programme was chaired by S. Kevi Hibo, Asst. BM & I/C Nodal centre Kohima, while M.L Giri Manager in his welcome addressed expressed happiness to both the officials from RBI and NABARD O. Marchang AGM from Guwahati and Bendang Aier AGM from Kohima and business flock from Kohima town who participated in the camp.   AGM RBI O. Marchang in his introductory speech explained about the role and functions of RBI including measures taken for financial inclusion and currency management, he also apprised the participants to approach the Branch or the complaint redressal mechanism under the Banking ombudsman scheme and cautioned the participants not to fall prey to false e-mails/sms offering prizes to dupe public hard earned money.   Concept of JLG was highlighted by Vizo Kere Branch Manager Kohima Main, Kere challenged both the young entrepreneurs and the participants to be sincere and dedicate to their works in order to elevate their business, the benefits of opening of current accounts for the entrepreneurs and formation of Joint Liability groups was discussed in detail, whereby the participants were asked to approach the bank and avail credit facilities for expansion of their projects.

  Bendang Aier AGM NABARD was the moderator of the afternoons programme, Aier informed the house that with the advancement of science and technologies opening of accounts is mandatory since the policy of direct benefit transfer has already been launched by GOI.   Making friends with banks was shared and approaching the informal money lenders whose rate of interest is exorbitant in comparison with the Banks is been discourage, social security such as PMJJBY, PMSBY and opening of various types of accounts, small savings methods, curtailing of expenditures and recovery of loan was thoroughly deliberated in the interactive session.