Financial Literacy Week 2026: Nagaland Finance Commissioner Kesonyü Yhome urges banks and financial institutions to give greater priority to small-ticket loans.
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KOHIMA — Nagaland Finance Commissioner and Secretary to the Chief Minister Kesonyü Yhome on Monday urged banks and financial institutions to give greater priority to small-ticket loans, stating that the needs of common people should outweigh the size of credit extended.
Speaking at the inaugural function of Financial Literacy Week 2026 organised by the Reserve Bank of India at De Oriental Grand, Kohima, Yhome said that in Nagaland very few people seek large loans of INR 50 lakh, yet banks often appear reluctant to disburse smaller amounts of INR 50,000 or INR 2–3 lakh.
“The requirement of the common people is more important than the size of the loan,” he said, adding that financial institutions should seriously consider extending credit to small enterprises that lack the capacity to absorb large loans.
Yhome noted that complex compliance procedures were a major deterrent for small borrowers and one of the reasons banking culture has not taken root in the state. He called for a better relationship between service providers and clients, and urged banks to understand local realities and facilitate schemes promptly.
He also said the state government recognises the constraints faced by banks and has made conscious efforts to support credit flow and banking operations, assuring financial institutions that the government understands their position.
Also read: Government prioritises durable assets, avoids debt-heavy projects — Nagaland Dy CM Zeliang
Imtimenla Imchen, Additional Secretary (Finance), said financial literacy was no longer optional but an essential life skill, particularly as scholarships, salaries and welfare benefits are now routed through bank transfers. She highlighted challenges related to terrain and connectivity in Nagaland and stressed the need for cyber security awareness on a priority basis.
P Bulte, General Manager (O-i-C), NABARD, Dimapur, said NABARD has been taking up the financial literacy campaign in the state for quite some time. He said more than 300 digital and financial investment schemes are promoted every year in Nagaland, with the State Bank of India being the major contributor and the Nagaland State Co-operative Bank the second major contributor. He noted the challenges faced in terms of connectivity and accessibility in the hilly villages. He added that KYC is the first step to secure hard-earned money.
Meanwhile, Surabhi Bhattacharyya, Deputy General Manager, State Bank of India, Jorhat, said lack of financial literacy remained evident in day-to-day banking operations and emphasised the importance of awareness to prevent fraud and online scams.
The RBI has been observing Financial Literacy Week annually since 2016 with targeted themes and outreach programmes conducted in collaboration with banks and other stakeholders across the country.