Bank apathy discouraging entrepreneurship: BAN president
Kohima, March 10 (MTNews): A one-day entrepreneurship awareness programme was organized by MSME Development Institute Dimapur, Ministry of Micro, Small and Medium enterprises, Govt. of India, in collaboration with Business Association of Nagas (BAN) and District Industries Centre in Kohima on Wednesday.
The program attended by prospective entrepreneurs deliberated on PMEGP loan, MSME schemes and financial literacy besides sharing of success stories by entrepreneurs. Resource persons from District Industries Centre, private and public sector banks, MSME DI and BAN spoke during the programme.
BAN president L Mongkum Jamir during his address highlighted the apathy of the financial institutions in Nagaland. Describing bank finance as a key lifeline for entrepreneurs, he said that banks in the state were not issuing enough loans which is discouraging entrepreneurship. This is reflected by the poor Credit-Deposit (CD) ratio of Nagaland banks (43.2%) compared to the national CD ratio (71.7%) as per RBI 2021 data.
Speakers at the programs included MSME-DI Joint Director, Tali Longchar; General Manager DIC, Sukhonlal Langthasa; Chief Manager, Nagaland State Cooperative Bank, Nchumthung Kikon; AGM IDBI Bank, Rangshong Levis; President, Glocal Concepts Nagaland, Kezhangulie; and BAN executive member Benthungo Kithan.