NSRLM secures credit lending of Rs. 3 crore to 398 SHGs till date

• Lend Credit linkage from 10 banks, 28 bank branches
• Social capital of 5523 SHGs under 43 RD blocks in 9 districts created

Kohima, December 17 (MExN): Nagaland State Rural Livelihood Mission (NSRLM) has secured a total credit lending linkage of Rs. 3 crore to 398 Women Self Help Groups (SHG) since its inception.

According to a press release from NSRLM Program manager (Financial Inclusion) Rajuselie Lhousa, the mission tabled its achievement report on bank linkage in the State Level Bankers Committee (SLBC) meeting on December 14 at Vivor Hotel, Kohima.

It can be recalled that that the mission was incepted in the state in 2013.
“Since inception of the Mission altogether 10 banks from 28 bank branches have come forward to lend Credit linkage to 398 SHGs amounting to rupees 3 crores,” the release stated.

“The bank linkage during the last two quarters was 52 SHGs amounting to rupees 48.30 lakhs while sponsored applications pending in the bank branches are 129 SHGs.”

It further stated that a social capital of 5523 SHGs under 43 RD blocks in 9 districts were created. These SHGs gave federated to their higher level institutions of 273 village level organizations (VLO) and 14 Block level Federations (BLF).

Meanwhile, the release also mentioned that “as per the directive of Reserve Bank of India (RBI), use of common loan application form for women SHGs in the country is accepted by nationalized banks.”

Therefore, “the NSRLM is further seeking approval from SBI for accepting nodal officers of NSRLM for submission of loan forms at regional offices (RBO) under Dimapur and Mokokchung, especially to solve problem of single officer staff having limited manpower as well as unauthorized for sanctioning of loans.”

Other major initiatives underway under financial Inclusion include placing of Bank Sakhi (customer relationship managers) in bank branches and community based recovery mechanism which is also functioning therein.

Putting in place community cadres for financial literacy (FL-CRP) and positioning SHG member as Business Correspondent Sakhi (BC agents) to unbanked and unreached areas are other initiatives undertaken by the mission.

The post NSRLM secures credit lending of Rs. 3 crore to 398 SHGs till date appeared first on The Morung Express.

from The Morung Express
via The Morung Express