Thursday, December 8, 2022

BAN signs MoU with SBI to finance 1,000 MSMEs in 2 years

Business Association of Nagas (BAN) has signed a memorandum of understanding (MoU) with State Bank of India (SBI) at the concluding day of National Integrate Innovate Expand (NIIE) Trade Fair held at NER Agri Expo on Sunday.
The MoU envisages targeting of 1,000 Micro, Small and Medium Enterprises (MSMEs) for financing in the next two years, which is expected to create huge employment opportunities and contribute Rs 3 billion to the GDP.
As per the MoU, BAN will facilitate identification and preparation of MSMEs through project screening, documentation and submission to SBI. Once the loan is sanctioned, BAN will be responsible in providing training on book keeping, GST filing, statutory compliances, etc. BAN will also closely monitor, handhold and actively intervene to avoid any loan becoming irregular. Quarterly performance review of all beneficiary will be held between SBI and BAN.
BAN general secretary Dr Yan Murry, through a press statement, said that the MoU would bring hope and huge respite to genuine entrepreneurs of the State.
Meanwhile, delivering his speech as chief guest at the valedictory function of NIIE Trade Fair organised by BAN and supported by Union ministry of MSME, Adviser of Industries & Commerce and Employment, Skill Development & Entrepreneurship Imnatiba Jamir expressed the hope that the fair would help create a new environment where young people would adopt a different approach towards addressing the unemployment issue.
Referring to factors that had held Nagas back, Imnatiba said since the inception of Nagaland state, Nagas have been depending on the government for everything. He said this was the reason why they were still struggling and lagging behind in comparison with other parts of the country.
He expressed gratitude to various organisations for acting as pressure groups to discourage corruption and other ills that had come to plague Naga society.
Imnatiba also said he was also happy to learn that BAN had been visiting every district in the State, disseminating information about various government schemes and programmes pertaining to MSMEs and forming district chapters. He expressed the hope that these chapters would help create a business ecosystem in the State.
He also thanked SBI for being proactive and signing the MoU with BAN to provide loans to Naga entrepreneurs.
The programme was chaired by BAN Longleng district convener Lemjan B Phom, while welcome address was delivered by BAN adviser Zubeno Mozhui.
Assistant general manager (AGM) of SBI Regional Business Office, Dimapur, A Hangsing also delivered a speech, while souvenir report was delivered by souvenir committee convener Dr Lanusangla Tzudir and vote of thanks proposed by trade fair convener Benthungo Kithan.

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