BAN and SBI renew MoU to boost entrepreneurship in Nagaland

The Business Association of Nagas (BAN) and the State Bank of India (SBI) renewed their Memorandum of Understanding (MoU) on January 7 at the SBI Regional Office. The renewal marked three years of sustained collaboration aimed at empowering local entrepreneurship and enhancing access to formal credit in the state.
Under the renewed agreement, both institutions reaffirmed their role as catalysts for economic development. BAN will continue to serve as the bridge connecting entrepreneurs and business enterprises with SBI’s financial services and products.
BAN President L. Mongkum Jamir underscored the association’s continued focus on improving financial literacy among its members and facilitating smoother credit linkages. He appreciated SBI’s consistent support in nurturing entrepreneurship across Nagaland creating business ecosystem in the state.
SBI Assistant General Manager Hubert A.S. Wungshim highlighted the pivotal role of banking institutions in driving state and national economic growth. He said, “As the lead bank in the region, SBI remains deeply committed to expanding financial inclusion, reaching unbanked areas, and actively promoting entrepreneurial success through strategic partnerships.” A key feature of the MoU was the formalization of dedicated nodal officials from both SBI and BAN. These designated representatives will ensure streamlined coordination and efficient operations, with a specific focus on enhancing credit access for Farmer Producer Organizations (FPOs).