Advisor Kudecho Khamo urges banks to look beyond deposits

• KOHIMA — Pointing out that the Credit Deposit (CDR) ratio of banks in Nagaland is currently 63.84%, which is much below the national average of 75%, Kudecho Khamo, Advisor for CAWD and Taxes, on Monday urged banks not to focus only on deposits but to focus on building the economy through seamless loans.

Kudecho Khamo, S Keoshu Yimkhiung, Temjenmenba with SBI officials and others on Monday at Chetheba town. (EM Images)

• Addressing the inaugural programme of the State Bank of India (SBI) Chetheba Branch under Phek district, the advisor said, “This indicates that banks in Nagaland are lending a smaller percentage of their deposits compared to the national average.”
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• Khamo disclosed that the worst-performing banks include India Bank (31.54%), Bandhan Bank (17.34%), Axis Bank (28.15%), and Punjab & Sind Bank (20.71%), falling short of the RBI's 60% CDR benchmark.
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• Terming the inauguration event as a red-letter day for the people of Chetheba and its neighboring villages, he said, “This achievement is not just about the opening of a bank; it is the opening of new opportunities, new possibilities, and the unlocking of financial doors for the people.”
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• “With this opening, basic and essential financial services are now available right at our doorstep, bringing our local community closer to the rest of the country and the world,” he said.
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• Pointing out that in the past the citizens of the Chetheba area faced untold challenges and hardships due to lack of basic banking services, the advisor shared that residents had to travel long distances—particularly to Chozuba town—just to access basic banking services.
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• Khamo also exuded hope that the services of the newly inaugurated bank will not only boost the local economy but also empower the citizens, uplift the farmers, and support the entrepreneurs.
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• “With banking now within our reach, the people of Chetheba can dream bigger and plan better,” he added.
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• He urged the bank to give loans to people who are serious and, at the same time, build a serious recovery mechanism.
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• Pointing out that there are 75 rural development (RD) blocks in the state, he mentioned that only 55 blocks are covered by bank branches, with 20 blocks still unbanked, despite progress, many rural areas are still lagging behind.
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• He went on to state that as of December 2024, 26 banks operated in the state with 245 branches, unevenly distributed with a concentration in Kohima (55), Dimapur (60), and Chümoukedima (25). These three districts account for 140 branches, or 57% of the total.
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• Advisor for Youth Resources and Sports, S Keoshu Yimkhiung; Advisor for Transport and Technical Education, Temjenmenba; President of Chokri Area Public Organisation, Vepozoyi Theyo; Village Council Chairman (VCC) of Thipuzumi village, Zhoveyi Rose, also addressed the inaugural event.
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• Motahu Rokha, head Gaon Bura (GB) of Chetheba Town, delivered greetings.
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• Earlier, the welcome address was delivered by Surabhi Bhattacharya, Deputy General Manager (B&O), Administrative Office, Jorhat.
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• A dedicatory prayer was offered by Vejuyi Rose, Chairman, Chokri Area Baptist Church Council (CABCC), while the vote of thanks was tendered by Hubert AS Wungshim, Regional Manager, Regional Business Office (RBO), Dimapur.
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• The inaugural programme was also attended by MLA Benei M Lamthiu; Obed Quinker, Chairman, Nagaland Beekeeping and Honey Mission; the district administration led by Deputy Commissioner of Phek, Rhosietho Nguori and public leaders.