KOHIMA — As part of financial and credit consultancy, the Nagaland State Co-operative Bank Ltd (NStCB) organised ‘Financial and digital literacy camps’ in Weziho and Phokhungri villages under Meluri sub-division of Phek district on May 29 and 30 respectively.
The banking activities and facilities available with NStCB Ltd., were briefed to the villagers during the camp, stated an update from the bank.
S Kevi Hibo, NStCB Phek branch manager, informed that the branch office, which was established in 1985, has been rendering banking service to the rural farmers particularly the Chakhesang community for the past 37 years and 55 years to the state of Nagaland in general.
Hibo highlighted various loan facilities available with the bank and called for opening of various types of accounts with NStCB. Touching on digital and online banking, he said that within a short span of time, everything would become digitalised, cashless and paperless.
He encouraged the rural farmers to come under the umbrella of banking service in order to avoid exploitive private money lenders.
Kekhwengulo Lea, NStCB vice chairman, spoke about the planning of income and expenditure for the individual as well as family, which is the key to uplift the economy. Lea told the people to utilise the loan well to fulfill its purpose and added that repayment should be strictly followed in order to earn good reputation with the financial institutions.
Jonah Sema, NStCB general manager (Admin & Vigil), spoke on the importance of post-matric scholarship and insurance schemes such as PMSBY, PMABY and PMFBY, which has the lowest insurance premium in the world. He highlighted those schemes could be accessed from NStCB branches in Nagaland.
Besides, he also stressed on the need to cultivate the habit of savings.
Report stated that various types of deposits, interest rates and duration were also discussed during the camp.
