North East Small Finance Bank (NESFB) opened its Mokokchung Branch on Friday, its third branch in the state, now taking the tally of banks in the town to 13.
The inaugural ceremony was graced by Chumlamo Humtsoe, ADC & Administrator, Mokokchung Municipal Council as the chief guest and Limalenden Longkumer, General Secretary, Mokokchung Chamber of Commerce and Industry (MCCI) as guest of honor.
The guest of honor in his speech congratulated NESFB on behalf of the MCCI and welcomed the bank to the business community of Mokokchung.
Longkumer further encouraged the business community and the bank to cooperate and work with each other for mutual benefit and uplift the economy of the town in the process.
Meanwhile, the chief guest while congratulating the bank said that Mokokchung is a rapidly growing town with adult population of over 24000 adult citizens.
He encouraged the staff to provide the best service to the citizens and said that with many banks today, the field has become very competitive and that “the best service provider wins the most clients.”
He further encouraged the bank to assist small businesses by giving low interest loans as private loan sharks are charging high interest rates leading to small businesses to stack up huge debts.
The inaugural ceremony program was chaired by Achamo Erui, Branch Manager, NESFB Bank, Mokokchung. Pritesh Nath, Business Head, NESFB; Chandan Pathak, Zonal Head, NESFB; and MB Longkumer, Senior Advisor, MCCI also delivered short speeches.
North East Small Finance Bank Limited is a private sector bank in India with its headquarters in Guwahati. The bank is spread across the north eastern states with 128 branches in operation in the region.
NESFB is the only financial institution from North-Eastern states of India to receive Small Finance Bank (SFB) approval from RBI. The main objective behind setting up small finance banks by RBI was to drive the objective of financial inclusion by making provision of savings and to provide credit to small business units, small and marginal farmers, micro and small industries and other unorganized sector entities, through high-end technology, low cost operations.
NESFB Mokokchung Branch is located at 2nd Floor, Longkumer Kilem, Mokokchung.
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