Representatives of the Nagaland Rural Bank (NRB) and the Community Educational Centre Society (CECS) exchange signed copies of the MoU.
TULI, OCTOBER 8 (MExN): Nagaland Rural Bank (NRB) and Community Educational Centre Society (CECS) signed a Memorandum of Understanding (MoU) on Wednesday to facilitate access to formal credit and financial services for farmers and community groups in Mokokchung district.
The MoU was signed at Tuliyong Ward Community Hall, Tuli, with the primary objective of enabling farmers and community members associated with CECS to access credit facilities through Self-Help Groups (SHGs), Kisan Credit Cards (KCCs) and other suitable banking schemes.
Speaking at the programme, CECS Director Subonenba Longkumer encouraged farmers to work hard and make responsible use of borrowed funds. He stressed the importance of using loans "honestly and responsibly" to increase production and strengthen household livelihoods.
General Manager (Operations), Nagaland Rural Bank, Rahul Singh, explained various banking schemes and credit facilities available to farmers and community groups. He provided information on KCC loans, eligibility criteria, types of loans and the process of accessing credit.
Singh said the available loan opportunities ranged from approximately ₹1-2 lakh for individual borrowers to up to ₹5 lakh for SHGs, subject to eligibility and applicable banking norms. NRB officials also offered assistance in opening bank accounts and accessing appropriate financial services.
An experience-sharing session by WELP beneficiary Tongpangnungla provided a practical account of how access to financial and livelihood support could contribute to improved household income and economic empowerment.
The keynote session was followed by a question-and-answer session, during which farmers sought clarification on loan eligibility, procedures and access to credit.
Representatives of the Nagaland State Rural Livelihoods Mission (NSRLM) also conducted a session on the formation and functioning of SHGs. The session focused on helping participants understand the process of organising themselves into groups and accessing collective livelihood and financial opportunities.
The programme was chaired by CECS Programme Officer Toshi Aier.
CECS is currently working with more than 700 farmers across Mokokchung district through various livelihood and community development initiatives. The organisation said the MoU with NRB is expected to strengthen linkages between farmers, community institutions and formal financial services.
The collaboration is aimed at promoting financial inclusion, responsible credit use and sustainable livelihood development among rural communities in the district.
