Kudecho inaugurates SBI Chetheba Branch

Advisor for CAWD and Taxes, Kudecho Khamo, inaugurated the State Bank of India (SBI) Chetheba Branch under Phek district on June 9, marking a significant milestone in the financial inclusion of rural Nagaland. Describing the event as a red-letter day for Chetheba and its neighboring villages, Khamo emphasized that the opening of the bank was not merely about expanding infrastructure, but about opening new avenues of opportunity, empowerment, and economic development.
According to a DIPR report, Khamo stated that banks must not focus solely on deposits but should play a more dynamic role in economic growth by ensuring accessible and seamless credit to the people. He emphasized that true development lies in empowering citizens, supporting entrepreneurs, and uplifting farmers through inclusive banking services. Reflecting on past challenges, Khamo recalled how the lack of local banking services once forced residents to travel long distances—particularly to Chozuba town—for basic financial transactions. With the new SBI branch, essential financial services are now available at the doorstep, connecting the local community more closely to the broader economy.
Khamo acknowledged the collective effort and unwavering support of Chetheba’s residents, which made the achievement possible. He also expressed hope that SBI will grow hand-in-hand with the community and contribute to building a sustainable and resilient rural economy.
Highlighting financial inclusion gaps, Khamo noted that Nagaland has 75 Rural Development (RD) Blocks, of which 20 remain unbanked. Despite having 26 banks with 245 branches as of December 2024, over 57% of these branches are concentrated in Kohima, Dimapur, and Chümoukedima, leaving many rural areas underserved.
The Credit-Deposit (CD) Ratio in Nagaland stands at 63.84%, well below the national average of 75%. Khamo further pointed out that several banks fall short of the Reserve Bank of India’s 60% benchmark for a healthy CD Ratio—Indian Bank (31.54%), Bandhan Bank (17.34%), Axis Bank (28.15%), and Punjab & Sind Bank (20.71%)—calling for stronger lending support in the state. Deputy General Manager (B&O), Administrative Office, Jorhat, Surabhi Bhattacharya, informed that the SBI now operates 76 branches across Nagaland. She sought continued support from the community to strengthen and expand banking services in the region.
Advisor for Youth Resources and Sports, S. Keoshu Yimkhiung, speaking on the occasion, encouraged young athletes to treat sports as a viable profession and utilize government facilities like the State Sports Hostel and Khelo India Centre. He reiterated the state government’s commitment to sports and emphasized the development of a state sports policy under the leadership of Chief Minister Neiphiu Rio.
Advisor for Transport and Technical Education, Temjenmenba, hailed the inauguration as a historic moment, officially placing Chetheba on Nagaland’s banking map. Short speeches were also delivered by President Chokri Area Public Organization (CAPO), Vepozoyi Theyo, VCC Thipuzumi Village, Zhoveyi Rose and Head GB Chetheba Town, Motahu Rokha, The programme was also attended by MLA Benei M. Lamthiu, Obed Quinker, DC Phek Rhosietho Nguori.