Dimapur, June 1 (MExN): A total of 23% SHGs in Mon district are now credit linked with the released loans to 32 women Self Help Groups by the Nagaland State Cooperative Bank (NSCB) Mon Branch on May 31.
With this, altogether 60 SHGs from amongst 258 SHGs in Mon District have availed loans from the bank, informed a press note from Rajuselie Lhousa District Coordinator (FI), Nagaland State Rural Livelihood Mission Mon (NSRLM).
The loans were released at a function organised by District Mission Management Unit (DMMU), NSRLM at Department of Rural Development Nagaland Resource Centre Mon.
Speaking on the occasion, W Chemkai Konyak, Branch Manager, expressed his big heart said that loins are given under NSRLM at 7% per cent, minimum interest, as per the directive of Reserve Bank of India (RBI) and Government of India.
He also reminded the SHGs about the need to maintain a two-way relationship between the loaner and the loanee – each honoring its responsibility.
Encouraging the women, Chemkai said the amount availed from fresh loan is only for initial support but good recovery by SHGs will enable higher level for bigger projects.
M Temjen Longchar, District Program Manager-cum Project Officer DRDA Mon, in his speech lauded the performance of the staff and community cadres for putting effort in bringing good SHGs.
Rural women SHGs under NRLM are functioning very well, he said and expressed hope that it will become the best and most successful program in the State.
District Coordinator (financial inclusion), Lhousa said that the 32 SHGs got the opportunity of availing loan through the good recovery reputation of the earlier loanees.
Every village under Mon Block is credit linked with one or more SHGs, he also declared further disclosing the plan to initiate another round of selection of SHGs by the respective Village Level Organization (VLOs) in the month of June to put up to State Bank of India (SBI) Mon Branch.
The function was attended by presidents and secretaries of 32 SHGs along with staff of Mon and Chen block, the press note added.
