Nagaland Rural Bank and Community Educational Centre Society sign an agreement in Tuli, Mokokchung, to provide formal credit and financial services to farmers.
DIMAPUR — Nagaland Rural Bank (NRB) and the Community Educational Centre Society (CECS) signed a memorandum of understanding (MoU) at Tuliyong Ward Community Hall in Tuli, Mokokchung, on Thursday to facilitate access to formal credit and financial services for farmers and community groups.
According to an update, the MoU primarily aims to enable farmers and community members associated with CECS to access credit facilities, including loans through self-help groups (SHGs), Kisan Credit Cards (KCCs), and other banking schemes. The collaboration is expected to support farmers in strengthening livelihoods, increasing production, and making productive investments.
In his welcome address, Subonenba Longkumer, Director of CECS, encouraged farmers to work hard and make responsible and productive use of borrowed funds. He highlighted the importance of utilising loans honestly and responsibly to enhance production and household livelihoods.
Delivering the keynote address, Rahul Singh, General Manager (Operations) of Nagaland Rural Bank, explained various banking schemes and credit facilities available to farmers and community groups. He provided information on KCC loans, eligibility criteria, types of loans, and the process of accessing credit.
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He also stated NRB's commitment to supporting rural communities and facilitating access to banking services. The session covered loan opportunities ranging from approximately INR 1 lakh to INR 2 lakh for individual borrowers to up to INR 5 lakh for SHGs, subject to eligibility and applicable banking norms. NRB officials also offered support in opening bank accounts and accessing appropriate financial services.
Sharing her experience, a Women Economic Livelihood Programme beneficiary, Tongpangnungla, provided a practical perspective on how access to financial and livelihood support can contribute to improved household income and economic empowerment.
A question-and-answer interaction followed, during which farmers sought clarification on loan eligibility, procedures, and access to credit.
Representatives of the Nagaland State Rural Livelihoods Mission also conducted a session on the formation and functioning of SHGs.
CECS is currently working with more than 700 farmers across Mokokchung district through various livelihood and community development initiatives.