Morung Express News
Dimapur | September 27
The State Bank of India will be organizing a ‘loan mela’ for customers in Nagaland in October as part of the Union Finance Ministry’s plan to boost liquidity in the economy.
The campaign will be held in around 400 districts in two phases – October 3-7 and October 21-25. Announcing this at a press conference today, Assistant General Manager of the SBI’s Regional Business Office, Dimapur Paogin Haokip informed that in Nagaland, Kohima and Dimapur have been chosen as the venues for the credit fair. In Kohima, it will be conducted at Angami Women Organisation’s Conference Hall on October 3 and in Dimapur at Hotel Saramati on October 5.
Haokip said, “The objective is to make credit accessible to customers.” With SBI as the “convenor bank,” 12 other banks (including private sector banks) will participate in the mela. He added that they are also anticipating participation from a Non Banking Financial Company and local chambers of commerce.
“We are targeting to issue around 1000 (loan) sanction letters,” he said, adding that sanction letters of loan applications, which have been processed will also be handed away.
Customers, who attend the ‘melas’ can expect it to be an informative experience with bank officials assisting and sensitising visitors on various products (loans) available. The customers, provided they meet eligibility criteria, will be able to avail credit for financing small and medium enterprises, retail business, and agricultural ventures as well as education and car loans at the mela. Customers from other districts of the state will also be eligible. Another objective of the campaign is to promote digital banking and financial inclusion, Haokip said.
