New branch of slice small finance bank, formerly known as North East Small Finance Bank Limited, was inaugurated in Wokha on August 30. Advisor to the Chief Minister, Dr Chumben Murry, graced the occasion as the Chief Guest, while Vineet Kumar (IAS), Deputy Commissioner of Wokha, attended as the Guest of Honour.
Addressing the gathering, Dr Murry described the launch as “one of the most important functions in recent days,” stressing that banking was not merely about transactions but about empowerment to save, invest and prepare for the future. Referring to Wokha as the “land of plenty,” he said the district’s rich natural resources and human capital must be harnessed, particularly by empowering youth and women.
He urged the people to cultivate a culture of saving and investment, noting that while many accounts are opened today, the true benefits come when deposits are put to meaningful use. Welcoming the bank’s assurance of competitive interest rates, he called it a positive opportunity for farmers, women and young entrepreneurs.
Dr Murry further remarked that the future of economic growth lies beyond government employment and encouraged people to consider small and micro businesses as stepping stones to larger enterprises. He also underlined the need for easy access to credit. Sharing a personal reflection, he reminded the gathering that the habit of saving should start early to ensure long-term financial security.
He expressed confidence that the new branch would be a milestone for the district’s progress, adding that “if a bank is inclusive and serves every section of society, its growth will naturally go hand in hand with the progress of the people.”
Guest of Honour, Vineet Kumar described the inauguration as a celebration of Wokha’s entrepreneurial spirit, observing that despite its modest population, the district already hosts more than ten bank branches. He said the presence of so many financial institutions reflected recognition of Wokha’s potential.
Calling slice small finance bank unique for having begun its journey in the Northeast before expanding across the country, Kumar noted that its roots in the region give it an edge in understanding local opportunities and challenges. He acknowledged that much of the local economy continues to depend on informal moneylenders who charge high interest rates, often due to the complexity of banking procedures and lack of trust in formal systems.
In this regard, Kumar urged banks to act as facilitation and training centres to help people—especially youth and entrepreneurs—access financial services. He expressed optimism that slice SFB would play a role in bridging these gaps and concluded by congratulating the management, hoping that the Wokha branch would grow together with the people of the district.
Welcoming the gathering, Seiboi Khongsai, Zonal Head for Meghalaya and Nagaland, described Wokha as the “land of plenty” and said the new branch symbolised the bank’s commitment to the district’s economic growth. He announced that the branch opened with a general ledger deposit of ₹2 crore, terming it a significant milestone for the bank in Nagaland. Expressing optimism, he likened the inauguration to the planting of a seed that would grow into a tree offering financial support and opportunities for the people.
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Pranjal Medhi, Liability Head at the Guwahati Head Office, shared that Wokha now hosts slice SFB’s sixth branch in Nagaland. Stressing that the bank is committed not only to accepting deposits but also to providing loans and credit facilities, he said, “We want to partner with the people of Wokha to help them grow, start new businesses and create opportunities.”
Medhi highlighted that slice SFB offers 5.5% daily interest on savings accounts and up to 8.50% on fixed deposits, among the best rates in the country. He assured that deposits collected in the state would be reinvested locally to support people’s growth and acknowledged the encouragement of community leaders in enabling the bank’s expansion.
The programme also featured short addresses from representatives of the Lotha Hoho and Dr. Thungdemo Kyong, President of Team Metamorphosis. A dedication prayer was pronounced by Pastor Khoben Tungoe of Tchuphyangza Baptist Church, followed by the official branch inauguration by the Chief Guest and the opening of the Cash Counter by the Guest of Honour.
The event was chaired by Achamo Y. Erui, Zonal Business Manager (L) Nagaland State & Branch Head, and attended by officials, community leaders and representatives of various organisations.
