Kohima, December 8 (MTNews): Nagaland Chief Secretary J Alam has asked the Deputy Commissioners to give top priority to the Chief Minister’s Micro-Finance Initiative (CMMFI) and lead from the front with regard to its implementation. He also asked the DCs to conduct awareness programs in their respective districts by 15 December 2022.



A review meeting of the implementation of the Chief Minister’s Micro-Finance Initiative Scheme was held at the Conference Hall of the Chief Secretary on 8th December 2022. (DIPR)


Chairing a review meeting of the implementation of the Chief Minister’s Micro-Finance Initiative (CMMFI), which discussed in detail issues pertaining to the implementation of the scheme, Alam appreciated Wokha District for the proactive role played in creating awareness and receiving applications for scrutinizing and approval. He encouraged the other Districts to follow suit and also create a District Facilitation Centre with members drawn from the Agri & Allied Departments in the District in order to expedite the implementation of the Scheme.


The Chief Secretary apprised that the CMMFI scheme was one of the two flagship programs launched by the State Government in addition to the Chief Minister’s Health Insurance Scheme (CMHIS). The Deputy Commissioner is the Chairman of the District Level Implementation-cum-Monitoring Committee (DLIMC).


He also directed the Lead bank to issue fresh directives to all the bank branches regarding their role and responsibility in the implementation of the CMMFI Scheme so as to ensure the timely dispersal of loans to the beneficiaries.


The Deputy Commissioners assured that they would organize awareness campaigns before December 15 and give maximum efforts for the success of the state flagship program.


Agriculture Production Commissioner, Y Kikheto Sema also reiterated that CMMFI Scheme is a first-of-its-kind scheme in the State where the loan component is 60% to be provided by the banks and the State Government will provide 30% of the total project cost as a back-ended subsidy.


The beneficiary will have to contribute just 10% of the project cost while KCC holders will have the additional benefit of a 4% interest subvention by the State Government, he noted.


Sema also noted that the total cost of the CMMFI Scheme would be around Rs 217 crore, out of which Rs 65 crore is subsidy from the State government, Rs 130 crore is from the Bank, and Rs 22 crore as beneficiary contribution.


The CMMFI is expected to generate employment opportunities for about 1500 unemployed youths or entrepreneurs, he said.


Meanwhile, Development Commissioner, Amardeep S Bhatia also highlighted the CMHIS and asked the Deputy Commissioners to ensure the saturation of registration of all government employees and public under the health insurance Scheme so that health cards can be issued to all before the election process starts.


Senior officials from the State Government and the Bank as well as the DCs attended the meeting along with others through videoconferencing.

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