Union Minister of State (Independent Charge) Statistics and Programme Implementation, Gen (Retd) Dr. V.K. Singh expressed delight at being back to Nagaland while launching the Mudra Mega Credit Camp (MMCC) at Town Hall Dimapur Tuesday organized by the State Bank of India.
After handing over cheques to beneficiaries Gen. Singh said though the scheme was started sometime back, the Centre has recently decided to give it a greater push to reach the targeted in the state.
He said the scheme was meant to fund non-corporate small business sector for people who want to start small enterprises. Under the Mudra Mega, the schemes include– ‘Shishu’ as baby loan upto Rs.50,000; ‘Kishore’ as child loan from Rs.50,000 to Rs.5 lakh and ‘Tarun’ as youth loan from Rs.5 lakh upto Rs. 10 lakh
Singh said the objective was to benefit those, who otherwise, did not have means for finance or loan and to get such people out of the clutches of money lenders where banks would facilitate easy procedures for the applicants.
He also said repayment of loans have also been simplified. The MoS said that under the leadership of Prime Minister Narendra Modi, many schemes have been launched for the common people and urged upon the beneficiaries to make good use of the loans. Singh said Nagaland and the North East states have many enterprises where Mudra scheme could provide the boost for the growth of the small sector by providing loans.
Earlier, delivering the welcome address Assistant General Manager SBI and convenor SLBC Binod Srivastava said the government of India has launched a series of schemes in a phase-wise manner in pursuit of a comprehensive financial inclusion to uplift human development index. He informed that the schemes included the following- Pradhan Mantri Jan Dhan Yojana (PMJDY), Social Security Schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY), Pradhan Mantri Suraksha Bima Yojana(PMSBY) and Atal Pension Yojana (APY).
Srivastava also said more focus was given on Shishu loan, so that, Banks could cover a large number of beneficiaries. In Nagaland, all Bank branches have been instructed to identify eligible beneficiaries particularly under Shishu category, he said.
He said banks have arranged publicity for the schemes. Further, Srivastava informed that the Chairman of SLBC has taken keen interest by providing guidance and support in the endeavor of the Banks to make this initiative of the Government of India a grand success.
It was also informed that so far 977 numbers of Mudra loan amounting to Rs. 5.24 crore have being sanctioned by all Banks across the state of Nagaland. Out of which, a sum of Rs. 2.51 crore has been disbursed. SBI being the Convenor Bank of Nagaland, has taken the lead through all its 64 branches where 492 Mudra loans have been sanctioned amounting to Rs 1.36 crore. He assured the Union Minister that Bankers in Nagaland will achieve the target for the ongoing Mudra Loan campaign.
It may be noted that under the aegis of Pradhan Mantri Mudra Yojana, Mudra has created its initial products/schemes with the interventions through ‘Shishu’, ‘Kishore’ and ‘Tarun’. The schemes were to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur. The Mudra scheme would focus on land transport sector/activity, community, social and personal service, food products sector and textile products sector and activity.
Parliamentary secretary for Industries and Commerce, Amenba Yaden and parliamentary secretary for Labour & Employment, Skill Development and Border Affairs Mmhonlumo Kikon accompanied the union minister including M.K. Mero, commissioner and secretary (Industry & Commerce), Liremo Lotha, Dimapur commissioner of police.