MLA and advisor CAWD and Taxes, Kudecho Khamo on Monday inaugurated the State Bank of India (SBI) Chetheba Branch under Phek district, making it the 76th SBI branch in Nagaland.
Speaking on the occasion, advisor Khamo said banks must not focus only on deposits but also on building the economy through seamless loans for economic growth and development of the society. Terming the occasion as a red-letter day for the people of Chetheba and its neighbouring villages, Khamo stated that the achievement is not merely about the opening of a bank, but the opening of new opportunities, new possibilities, and the unlocking of financial doors for the people.
With this, the basic and essential financial services are now available at the doorstep, bringing the local community closer to the rest of the country and the world, he said.
Recalling the past hardships faced by residents due to the absence of banking facilities, the legislator said that people had to travel long distances, particularly to Chozuba town, to access basic banking services which now has been ease to a great extent.
He said that the services at bank will not only boost the local economy but also empower citizens, uplift farmers, and support entrepreneurs, adding that with banking now within reach, the people of Chetheba can dream bigger and plan better.
Acknowledging the cooperation and support of the people of Chetheba town and adjoining villages, he said this milestone achievement was made possible by their collective effort.
Meanwhile, the MLA pointed out that there are 75 Rural Development (RD) Blocks in the state, out of which only 55 are currently served by bank branches while 20 remain unbanked.
As of December 2024, he said there were 26 banks operating in Nagaland with a total of 245 branches, though the distribution remains uneven and heavily concentrated in Kohima, Dimapur, and Chümoukedima districts, which together account for 140 branches—Kohima with 55, Dimapur 60, and Chümoukedima 25—representing 57% of the total.
Khamo highlighted that the Credit-Deposit (CD) Ratio in Nagaland stood at 63.84% as of December 31, 2024, which is significantly below the national average of 75%, indicating that banks in the state are lending a smaller percentage of their deposits compared to the rest of the country.
He also pointed out that the Reserve Bank of India’s benchmark for a healthy CD ratio is a minimum of 60%, yet some banks are performing far below this threshold, including Indian Bank at 31.54%, Bandhan Bank at 17.34%, Axis Bank at 28.15%, and Punjab & Sind Bank at 20.71%.
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Surabhi Bhattacharya, Deputy General Manager (B&O) Administrative Office, Jorhat earlier delivered welcome address and informed that SBI now have 76 Branches in the state. She solicited the support and cooperation of the public from the area to take the branch forward to a great height.
MLA and advisor Youth Resources and Sports, S Keoshu Yimkhiung urged young athletes to commit seriously to sports as a profession rather than a hobby, encouraging them to utilise the State Sports Hostel and Khelo India Centre for skill development. He highlighted the state government’s commitment to sports under CM Dr Neiphiu Rio and the plan for a state sports policy, while also stressing the need to strengthen leadership and governance.
MLA and advisor Transport and Technical Education, Temjenmenba described the inauguration of SBI Chetheba Branch as historic, placing the area on the state’s banking map. Noting the lack of banking culture among Nagas, he said the branch opens economic opportunities in a cashless era. He called for patient, service-oriented banking. He also urged public support for the leadership of Chief MInister Dr. Neiphiu Rio and Chozuba MLA Kudecho Khamo to strive for excellence.
Speeches were also delivered by Vepozoyi Theyo, President Chokri Area Public Organization (CAPO), Zhoveyi Rose, VCC Thipuzumi Village, Motahu Rokha, Head GB Chetheba Town.
The inaugural programme was also attended by MLA Benei M Lamthiu; Obed Quinker, chairman Nagaland Beekeeping and Honey Mission, district administration led by Deputy Commissioner (DC) Phek Rhosietho Nguori, other government officials and public leaders.
