Dimapur, Nov 7 (KNN) The State Bank of India (SBI) in collaboration with the Business Association of Nagas (BAN) has decided to help 1000 entrepreneurs with financing.

A MoU has been signed between the two parties to facilitate ease of doing business and finance MSMEs of Naga entrepreneurs in the state, reported Eastern Mirror.

"The NIIE trade fair culminated in a very positive note with huge promise and commitment to finance 1000 entrepreneurs by the iconic signing of MOU between SBI and BAN, which will bring hope and huge respite to the genuine entrepreneurs of the state," an update from BAN stated on Sunday.

Under the pact, BAN will facilitate identification, preparation of MSME through project screening, documentation and submission to SBI.

Once the loan is finally sanctioned, the association will be responsible for providing training on bookkeeping, GST filing, statutory compliances etc.

It stated that BAN will also closely monitor, handhold and actively intervene to avoid any loan becoming irregular.

Quarterly performance review of all beneficiaries will be held between SBI and BAN.  (KNN Bureau)