Dimapur: The Business Association of Nagas (BAN) and the State Bank of India (SBI) renewed their MoU at the SBI regional office in Dimapur on Wednesday, reaffirming their commitment to serve as catalysts for the economic development of local entrepreneurs in Nagaland.
A BAN release stated that the renewal marks three years of continued collaboration aimed at strengthening local entrepreneurship and increasing access to formal credit in the state.
A key feature of the MoU is the formalization of dedicated nodal officers from both SBI and BAN.
These elected representatives will ensure better coordination and efficient operations, with a particular focus on improving credit access for Farmer Producer Organizations (FPOs).
Speaking on the occasion, BAN President L. Mongkum Jamir emphasized that the association is continuously focusing on increasing financial literacy and facilitating easy credit linkages among its members.
He praised SBI’s continued support in promoting entrepreneurship in Nagaland and building a strong business ecosystem in the state.
Hubert A.S. Wungshim, Assistant General Manager at the SBI Regional Office, emphasized the crucial role of banking institutions in driving economic growth in the state and the country.
He further added, “As the lead bank in the region, SBI is fully committed to increasing financial inclusion, reaching out to unbanked areas, and promoting entrepreneurial success through strategic partnerships.”
This new collaboration demonstrates the strong commitment to strengthening Nagaland’s economic environment by supporting existing businesses, encouraging new ventures, and creating a more accessible financial environment.
