Slice Small Finance Bank opens branch in Wokha

DIMAPUR — A new branch of Slice Small Finance Bank was officially inaugurated in Wokha district on Saturday. The inauguration ceremony was attended by Advisor to the Chief Minister, Dr. Chumben Murry, as the chief guest.

According to a DIPR report, in his address, Dr. Murry emphasised the importance of strengthening the banking system and promoting financial literacy, particularly in rural and semi-urban areas.

He highlighted the abundance of youth resources in Wokha district and urged stakeholders to focus on the upliftment of youth and women, recognising them as key drivers of socio-economic transformation.

Dr. Murry described Slice Small Finance Bank as a potential “lighthouse of resources”, a guiding institution to boost entrepreneurship and small business startups across Wokha and its surrounding villages.

Stressing the need for accessible credit and financial services, he noted that such facilities would enhance the district’s economic structure and empower citizens with the knowledge and tools for sustainable financial growth.

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The guest of honour, Deputy Commissioner of Wokha Vineet Kumar, spoke on the broader role of the bank in addressing local economic challenges.

He acknowledged the transitional phase of Wokha’s economy and raised concerns about the prevalence of informal loan lending systems, which often burden people with high interest rates. He expressed hope that the presence of Slice Small Finance Bank would offer a safer, regulated alternative for financial services.

An introduction to the bank was delivered by the Liability Head of Slice Small Finance Bank, Guwahati Head Office, Pranjal Medhi, who outlined the vision and objectives behind opening the sixth branch in Nagaland, specifically in Wokha.

Short speeches were also delivered by representatives of Lotha Hoho and the President of Team Metamorphosis, Dr. Thungdemo Kyong, who expressed optimism about the bank’s role in local development.

The welcome address was given by Zonal Head for Meghalaya and Nagaland, Slice Small Finance Bank, Seiboi Khongsai.

Slice Small Finance Bank emerged from a strategic merger in October 2024 between fintech startup Slice and the North East Small Finance Bank, a move approved by the Reserve Bank of India.