Deputy Commissioner of Mokokchung, Sachin Jaiswal while speaking at the third phase micro loan distribution ceremony of the Mokokchung Entrepreneurs Consortium (MEC) La Catalyst scheme, said that the Naga people should develop the habit of saving if Nagaland was to prosper.
A press release from MEC secretary, Limalenden Longkumer stated that the ceremony was held on August 6, where the DC said that the habit of saving coupled with proper financial management practices were necessary for all individual members of the society and not just entrepreneurs. He also added that hard work was necessary to be successful in any venture, be it academics or business. He appreciated the MEC for their microfinance initiative and encouraged the beneficiaries to utilize the loans proficiently without squandering it on unproductive investments.
A total of 12 women entrepreneurs of Mokokchung were granted microloans of Rs. 50,000 each on Monday, by MEC under its La Catalyst scheme which is exclusively designed for women entrepreneurs.
Earlier in the program, chairman of MEC, Tsukti Longkumer while delivering the keynote address said that the micro loans were given with the trust that the beneficiaries would repay them on time. He also said that trustworthy beneficiaries would be rewarded with bigger loans in the future. He also said that MEC also has a ‘wise counsel’ cell and informed prospective entrepreneurs, with new ideas, or even struggling entrepreneurs to avail of the service provided by MEC ‘wise counsel’ to give life to their ideas or find solutions to their problems.