Vijaya Bank extends Rs. 60 lakh loan to women entrepreneurs

Principal Correspondent
Kohima, Feb 20

In a major step towards uplifting entrepreneurship, Vijaya Bank today provided Rs. 35 lakh to seven Self Help Groups promoted by Entrepreneurs Associates (EA) Nagaland while also extending loans of Housing & Retail trade of Rs. 25 lakh to women entrepreneurs. The scheme known as Self Help Group Bank Credit Linkage Program was formally launched today at Entrepreneur Associate office here, wherein Chief Manager of Vijaya Bank, R. S. Mishra gave a brief profile about the Bank’s early roots in Nagaland, particularly in Kohima district. Vijaya Bank and EA has come together to extend loan to SHGs.
He also stressed on the importance of women’s role in the society and how SHG could help in the upliftment of women’s status in the society.
In his speech Chief Manager, Lead District Manager, SBI Lanuteka Imchen dwelled on the importance of forming SHGs and how such groups could promote income generating activities making people economically independent.
Chief Executive Officer of EA explained the concept behind the collaboration of EA and Vijaya Bank to link SHGs and take this movement to a higher level.
A PowerPoint overview was presented by AGM NABARD Bendang Aier giving nuances of the nature of SHGs with practical examples to make SHGs sustainable in the long run.
Vijaya Bank Manager L. G. Solomon Rongmei led the guests in handing over the sanctioned loans total amounting to Rs. 35 lacs to the even SHGs promoted by EA. In addition to this, some other priority loans of Housing & Retail trade total amounting to Rs. 25 lacs were also sanctioned to women entrepreneurs in the function.
The latter half of the program was given over for an open session where the participants directly interacted and aired their views and grievances with the officials.