Kohima: Nagaland Rural Bank and the Community Educational Centre Society inked a deal this Wednesday. They aim to get formal credit into the hands of farmers in Mokokchung. The signing ceremony took place at the Tuliyong Ward Community Hall in Tuli.
Farmers now have a clearer path to financial services. This includes Kisan Credit Cards and Self-Help Group support. CECS Director Subonenba Longkumer pushed the attendees to handle their debts carefully. He told the crowd they must use loans "honestly and responsibly" to boost production and keep their families stable.
Rahul Singh, general manager for NRB, broke down the math for the attendees. He detailed eligibility for loan packages. Individual borrowers can pull between 1 and 2 lakh rupees. Self-Help Groups can land up to 5 lakh rupees. NRB staff stood by to help with account creation and banking procedures.
Tongpangnungla, a beneficiary of the WELP program, shared how the financial support changed her life. Her story hit home for many. Attendees then peppered the speakers with questions about specific requirements and how to apply for funds.
The Nagaland State Rural Livelihoods Mission also joined the event. Their team taught groups how to organize and run a successful collective. Toshi Aier, a program officer for CECS, chaired the meeting. CECS currently backs over 700 farmers in the region. This new pact looks to bridge the gap between rural workers and the banking system.
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