Campaign aims to make 1 lakh households financially literate in Nagaland

Rajuselie Lhousa, state programme manager of financial inclusion (SPM-FI), Nagaland Rural Livelihoods Mission (NSRLM), stated on Friday that becoming financially literate requires knowledge of financial planning.

DIMAPUR — Rajuselie Lhousa, state programme manager of financial inclusion (SPM-FI), Nagaland Rural Livelihoods Mission (NSRLM), stated on Friday that becoming financially literate requires knowledge of financial planning, savings, credit, insurance literacy, digital finance, pension, overdraft (OD) limit, and enterprise financing, among others.

Speaking during the launching of the financial literacy campaign under Azadi Ka Amrut Mohotsav (AKAM) 2.0 in Dimapur, organised by NSRLM, he said that it was saddening to know that Nagaland’s financial literacy rate is only 8%.

He said that every citizen needs to understand the ‘supply’ side as well as the ‘demand’ side so as to become financially literate and bridge the huge gap of illiteracy. He maintained that it is the desire of the country that the financial literacy movement bring about a sea change in society.

As part of the campaign, he stated, 30 state master trainers (SMT) are in place to provide training to the 296 identified SHG members, who are designated as financial literacy community resource persons (FLCRP). He further sought the cooperation of the lead bank, other banks, and RSETI for the success of the training in the coming days.

The campaign will cover 11 districts, 74 blocks, and 1,300 villages, comprising one lakh households, during the current FY 2023-24.

During the launch, one SHG received the key to a pickup truck under the Nagaland Rural Express Yojana (NREY) project under the Chief Minister’s Micro Finance Initiative (CMMFI) scheme. The project cost was INR 10 lakh and was financed by Nagaland Rural Bank (NRB).

Prior to handing over the key to the pickup truck to Atsunipu SHG of Purana Bazar, Yamuna Pai, AGM, NABARD, spoke on the topic ‘financial literacy and its context in Nagaland ecosystem.’

According to a press release, the programme also facilitated the formal handover of hardware equipment (laptops) to five business correspondents of Sakhi funded by the State Mission, two fingerprint devices to Digipay Sakhi, and three loan sanction letters financed to SHGs by SBI.

Bendangnungsang Pongen, general manager (credit), NStCB, declared the launch of the campaign and the release of the National Charter on Financial Literacy. Other speakers included Pemmichon Nakhedei, the general manager of the NRB; Temsurenla Jamir, the LDM of Dimapur and Peren; and Lanusosang Jamir, state head, CSC. During the event, five outstanding financial literacy community resource persons (FLCRP) from five districts also shared their experiences serving the SHG community in the villages.

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