The State Credit Seminar 2024-25 was held at Hotel De Oriental in Kohima on March 5.
Governor of Nagaland La Ganesan who graced the occasion as the Chief Guest, in his speech, stressed the need for financial inclusion. He urged the State Level Bankers’ Committee to establish branches in the remaining 22 unbanked Rural Development blocks. The Governor highlighted the “State Focus Paper,” which identifies sectoral constraints and proposes measures to enhance Ground Level Credit (GLC), and called for prompt action on the major issues flagged in the paper.
Tiakala Ao, Chief General Manager/OIC of Nagaland Regional Office, highlighted Nagaland’s ₹1,178.08 crore credit potential under Priority Sector activities for 2024-25. She emphasized extending credit to Farmers Producer Organizations (FPO) and urged a focus on agriculture, irrigation, horticulture, and food processing. Ao stressed the need for innovative solutions in agriculture and identified tourism, horticulture, handloom and handicrafts, and the MSME sector as promising areas for sustainable growth.
Sarat Behara, AGM of NABARD, presented the State Focus Paper 2014-25, highlighting credit potentials for agriculture Infrastructure & Ancillary activities, agri and allied activities, and MSME and other priority sectors. The total projected credit was Rs 1178.08 Cr. Behara also identified critical sectoral gaps and issues requiring interventions.
Surabhi Bhattacharjee, Convenor of SLBC and DG of SBI, emphasized the State’s greater potential than projected in the State Focus Paper. She highlighted the abundance of natural resources and the untapped potential awaiting exploration.
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At the State Credit seminar 2024-25 in Kohima, Taliremba, Principal Secretary of the Department of Finance, voiced concerns about the disproportionate concentration of banks in specific districts (Dimapur, Mokokchung, Chümoukedima, Kohima), affecting agriculture in Nagaland. Out of 214 branches, 66 percent were concentrated in these areas, creating a disparity. Taliremba highlighted the challenges of opening branches in unbanked regions and urged underperforming banks to ensure deposits circulate back to citizens, meeting the RBI benchmark of 60 percent.
The program was organised by National Bank for Agriculture and Rural Development (NABARD), Regional office, Dimapur.
Earlier the Governor also flagged off the mobile van sponsored under NABARD’s rural mart scheme, followed by launch of the State Focus Paper 2024-25, released of shirt film on Rural Haats and felicitation of the best performing SHG/JLG’s and banks and handing over of sanction letters of NABARD-sponsored projects .
