KOHIMA, APRIL 26: Advisor Horticulture & Border Affairs, Mathung Yanthan stressed on the need to make the process of availing loans easier for people.
He was speaking at the inauguration of the North East Small Finance Bank at High School Junction, Kohima (Near Vishal Mart) on Tuesday.
Pointing out that people get discouraged owing to the hectic paperwork and other processes involved in availing loans, Advisor Yanthan suggested that banks may go to the extent of helping the Naga populace by making the process of availing loans easier.
Stating that most Nagas are still financially illiterate, he also implored on the need to impart financial literacy and help the Naga population in making informed financial decisions.
He also said that the arrival of a new banking branch in the State is a sign of a growing economy in the country and further urged the youth and the entrepreneurs in particular to make the best use of the opportunity.
Zonal Head NESFB, Chandan Pathak stated that while the bank is being launched to cater to the needs of everyone in Nagaland, one specific objective of the bank is to lend support to the entrepreneurs in the State.
In its effort to be fully un-lock the potential of doorstep banking to the public, the bank is ever ready to provide credit to small business units, small and marginal farmers, micro and small industries, agri and allied sector and other unorganized sector entities, through high-end technology and low cost operations, he said.
Entrepreneurs seeking to avail loans, be it medium or large amounts, can avail the bank service with ease, he said.
Informing that the NESFB, Dimapur Branch, had already given out loans grossing above Rs. 8 crore with a low loan default rate, the NESFB will soon expand to all the districts of Nagaland.
(Page News Service)