• Community Based Recovery Mechanism to be instituted in banks
• Nearly 1000 rural enterprises promoted under SVEP
• NRLM to introduce Banking Correspondent model across blocks
Dimapur, June 20 (MExN): One day workshop on SHG Bank Linkage organized by Nagaland State Rural Livelihoods Mission (NSRLM) in collaboration with National Mission Management Unit, NRLM, Delhi was held at AIDA, Dimapur on June 19.
The Chief Operating Officer (Programs), NSRLM, M. Rollan Lotha briefed about the progress so far made and road map for FY 2018-19. He opined the rural poor in Nagaland are bankable and to augment credit linkage, Community Based Recovery Mechanism (CBRM) will be instituted in the banks. To enable the poor to access interest subsidy, proactive data management by the mission and banks is needed.
He highlighted that nearly 1000 rural enterprises have been promoted under Start-up Village Enterprise Programme (SVEP). “Such innovations in livelihoods will create demand for credit.”
He stated that blocks in the State are underbanked and many more are unbanked therefore, as an alternative banking solutions, the State Mission will introduce state specific 18 Banking Correspondent model across the blocks. He also added that for an effective deepening of financial inclusion in the mission, staff and community cadres have been assigned dedicated FI thematization.
Experts from MoRD, Lokesh, Mission Manger and BK Basu, National Resource Person emphasized the importance of banks in sharing SHG Bank Linkage data with NRLM through the online portal to access Interest Subvention Scheme and real time visibility of the state progress.
General Manger from NABARD S.K. Dhumal shared about the various development programmes in the state of Nagaland. The participant banks expressed the benefitgained from the programme and assured expediting SHG bank linkage data upload in the national portal shortly. Meghalaya SRLM led by the State Mission Manger, R.Kynta State Mission Manager also briefly shared their progress on SHG Bank Linkage.
Earlier, in her address, the Additional Secretary, RD & Mission Director, NSRLM, Athel Lotha acknowledged the bankers for their support towards credit linkage to the SHGs and also stressed on the continued collective efforts of all key stakeholders in bringing financial security to the rural poor households.
State Mission FI team along with the State Cooperative Bank and Rural Bank Officials from Nagaland and Meghalaya participated in the workshop, added a press release received here.
