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The branch manager of the NSCB of Mon, W Chemkai, addressing women during a function marking the release of loans to self-help groups at the DRDA in Mon on May 31.[/caption]
Dimapur, June 1 (EMN): The Mon branch of the Nagaland State Cooperative Bank (NSCB) has stated that it has ‘released loan’ to 32 women self-help groups at a function that was organized by the NSRLM of Mon at the DRDA resource centre on Wednesday, May 31.
“With this, altogether 60 SHGs from amongst 258 SHGs have availed loan from the Bank, in other words 23%is credit linked in Mon district,” a press release from the district coordinator (FI) of Mon, NSRLM, informed on Thursday.W ChemkaiKonyak, branch manager of the NSCB’s Mon branch expressed happiness for having grated loan to the NRLM self-help groups at “7% per cent, minimum interest, as per the directive of Reserve Bank of India (RBI) and government of India.”
According to the press release, he reminded the women folk that the loan money was customers’ money deposited or kept with the bank. Therefore, those who availed loan but failing to recover the money in time will fail the bank ‘to return to its customers,’ the press release stated. “He said loving the bank is symbolized by good support from the public. Encouraging the women folk, he said the amount availed from fresh loan is only for initial support but good recovery by SHGs will enable higher level for bigger projects.”
Also, M TemjenLongchar, district program manager and project officer of the DRDA of Mon said in his speech that the rural women self-help groups under NRLM are “functioning very well...” He expressed hope that it will become the “best and most successful program in the state.”
Likewise, Rajuselie Lhousa, district coordinator (financial inclusion) said that the 32 self-help groups ‘got the opportunity of availing loan through the good recovery reputation of the earlier “loanees”.’ He declared that every village in the Mon block was “credit linked with one or more SHGs.”
Also, he spoke about a plan to initiate another round of selection of SHGs by the respective village Level Organization in the month of June, the press release added.
