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.”
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.
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.”
“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.
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.
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.
“With banking now within our reach, the people of Chetheba
can dream bigger and plan better,” he added.
He urged the bank to give loans to people who are serious
and, at the same time, build a serious recovery mechanism.
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.
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.
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.
Motahu Rokha, head Gaon Bura (GB) of Chetheba Town,
delivered greetings.
Earlier, the welcome address was delivered by Surabhi
Bhattacharya, Deputy General Manager (B&O), Administrative Office, Jorhat.
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.
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.
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