CMMFI benefits over 2,800 entrepreneurs across Nagaland

Nagaland chief minister Neiphiu Rio on Tuesday highlighted the progress of the Chief Minister’s Micro Finance Initiative (CMMFI), stating that the scheme has supported over 2,800 beneficiaries across Nagaland since its launch in August 2022.
According to infographics shared on his X handle, Rio said the initiative aims to promote grassroots entrepreneurship, enhance agricultural productivity, and strengthen micro and small enterprises through accessible financial support.
Under the scheme, beneficiaries can avail loans up to Rs 50 lakh, along with a 30% subsidy capped at Rs 5 lakh on term loans for agriculture, allied activities, and entrepreneurship. It also offers additional interest subvention, covers interest during a six-month moratorium, and ensures collateral-free credit for eligible applicants.
Data showed that 2,813 beneficiaries have been covered so far, with the highest from Kohima (446), followed by Mokokchung (356) and Dimapur (253). Other districts such as Zunheboto, Wokha, Mon and Tuensang also recorded participation.
Sector-wise, livestock accounted for the largest share with 1,787 beneficiaries, followed by vehicles and transportation (559) and retail trade (236), while smaller numbers were recorded in tourism, manufacturing, agriculture and services.
The scheme targets farmers, entrepreneurs, self-help groups and farmer producer organisations to boost livelihoods and promote investment in rural and semi-urban areas.