Nagaland MSMEs criticise banks for not providing enough loans to entrepreneurs

Kohima, Mar 11 (KNN) Financial institutions  are lagging in providing enough loans to entrepreneurs which has discouraged businesses in the region, said L Mongkum Jamir, President, Business Association of Nagas (BAN) based in north eastern state of Nagaland.

This was reflected in the RBI 2021 data highlighting the poor Credit-Deposit (CD) ratio of Nagaland banks (43.2 per cent) compared to the national CD ratio (71.7 per cent).

He said this during the “entrepreneurship awareness programme” held in Kohima, Nagaland.

It was organised by MSME Development Institute Dimapur, Nagaland in association with BAN and District Industries Centre.

During the programme several resource persons from district industries centre, private and public sector banks, MSME DI and BAN gave insights on the matter. 

Jamir emphasised on the state of the banks in Nagaland and called them as a key lifeline for entrepreneurs.

As district convenor of the Kohima chapter, BAN installed its district chapter in Kohima with Ruguokhrietuo Kesiezie.

It has five coordinators representing services, manufacturing, agriculture, education and trading sectors. (KNN Bureau)