75 SHGs receives Rs 1.31 crore from Nagaland Rural bank

Kohima: Seventy-five Self Help Groups (SHGs) under the Nagaland State Rural Livelihoods Mission (NSRLM) were awarded Rs 1.31 crore in loans by the Nagaland Rural Bank on Monday, as part of the Azadi Ka Amrit Mohatsav celebration to commemorate 75 years of India’s Independence. 

The cheque was handed over to the NSRLM-SHGs by Nagaland Chief Minister Neiphiu Rio during the Independence Day celebration at the Secretariat Plaza in Kohima. 

The bank credit will support the SHGs and their households in income-generating activities such as covering farm livelihoods, non-farm livelihoods and non-timber forest produce (NTFP) micro-enterprises. 

This is done to foster the national goal of creating “Lakhpati SHG Women” of enabling SHG women to earn at least Rs 1 lakh per annum. 

The credit linkage will continue to become an annual event in enhancing the State Rural Livelihoods Mission’s effort toward building the credit worthiness of rural women in Nagaland.

Notably, enabling access to financial services at the doorstep and providing alternative banking solutions has been the collective goal of the State, NSRLM, banks, and financial institutions.

The State Rural Livelihoods Mission has so far created an SHG corpus of more than Rs 160 crore, which remains as a collective fund at the community level and has also accessed Rs 28.41 crore through bank credit to date.

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