Dimapur, June 13 (EMN): With the stated objective of “going digital,” the Mokokchung branch of the Nagaland State Co-operative Bank organized a programme in Chami village on June 6 and Mopungchuket village on June 9, in Mokokchung district, coinciding with Financial Literacy Week as directed by the Reserve Bank of India.
According to a press release offering updates about the event, on Tuesday, 89 persons including village council chairmen, council members; VDB secretary and board members; self help groups, farmers’ clubs, and well-wishers, among others attended the event.
The bank has offered adoption of Mopungchuket village as a “Golden Village,” the updates stated. Any facility requirement by the village will be ‘given utmost priority,’ it was informed.
S. Amarjit Mangang, the DDM of NABARD, deliberated on the concept of ‘Going Digital,’ its objectives and on the aims of the central government, it was informed. He explained how UPI / digital transaction can be done easily even without a Smartphone and internet connectivity just by using the BHIM App or dialing *99#.
Likewise, he talked about KYC norms “which needs to be linked to each and every account. Without proper KYC an individual will be allowed an account balance of up to Rs. 50000 only; withdrawals of up to Rs. 10, 000 per month and total credit of up to Rs. 1 Lakh per financial year.
R. Asenla, senior field Inspector, also addressing the event. She talked about various loans and advances offered by the bank and the procedure to avail and the credit facilities, the press release stated.
‘She made focussed on exercising credit discipline where borrowing should be done within ones repayment capacity to invest in assets which can generate income and create value. She also explained how formation of JLGs, farmers’ clubs, and self help groups are done.’
