Governor, bankers discuss credit access to entrepreneurs

 DNagaland Governor, RN Ravi, Tuesday held a meeting with top officials of the banks including the State Bank of India and Axis Bank at Raj Bhavan Kohima to find ways and means to facilitate credit access to entrepreneurs and businessmen in Nagaland.

According to a Raj Bhavan statement, the issue of institutional credit access has become all the more significant in view of several thousands of young men and women who have been rendered jobless and had to return home due to COVID-19 pandemic.

It stated that the bank officials expressed their problems in extending easy credit to entrepreneurs due to absence of institutionalised risk mitigation systems in the State including non-availability of mortgageable land outside Dimapur Municipality/Mauza. 

After bank officials offered some constructive suggestions, the governor assured the banks that the government would “certainly” examine their suggestions and do the needful.

Meanwhile, the governor urged the bank officials to be pro-active in credit delivery with respect to collateral free loans under various schemes of the Government of India launched recently and spread awareness about them among the people.  Governor is likely to hold a review meeting with banks in due course of time, it stated.