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Assam State Rural Livelihoods Mission (ASRLM) signs MoU  with Northeast Small Finance Bank (NESFB)

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Assam-State-Rural-Livelihoods-Mission-(ASRLM)--signed-(MoU)-with-Northeast-small-financeOn September 05, 2020, Assam State Rural Livelihood Mission (ASRLM) signed a Memorandum of Understanding (MoU) with Northeast Small Finance Bank (NEFSB) to bring the Self-Help Groups (SHGs), producer groups and enterprises under banking network. This is the first among all State Livelihood Missions to initiate signing of MoU with new generation small finance banks.

The MoU was signed by Utpala Saikia, State Mission Director, ASRLM and Rupali Kalita, Managing Director cum Chief Executive Officer (CEO), NESFB. 

Key Points:

i.The MoU will empower women at the grassroot level to link them with banks for loans to become entrepreneurs and engage in livelihood generation activities. 

ii.It is also expected to cater to the financial needs of SHG group members, and other high level federations like Producer Groups, Producer Collective Groups.

iii.NESFB will enable SHG members to open Individual and Group Accounts with minimum documents in a short time span. 

iv.NESFB will provide loans to SHGs with a range of Rs. 1 Lakh to Rs. 5 Lakhs depending on proposals. 

North East Small Finance Bank (NESFB):

i.NESFB is the first Private Bank from Assam and Northeast India. 

ii.It has presence in 164 locations across Assam. 

Recent Related News:

i.National Bank for Agriculture and Rural Development(NABARD) provided Rs 270 crore Special Liquidity Facility(SLF) to Assam Gramin Vikash Bank in the wake of COVID-19 pandemic to support the agricultural activities of the farmers.

ii.Siddhartha Bhattacharya, Minister of Guwahati Development Department inaugurated Guwahati’s first manhole cleaning robot named “BANDICOOT”, an automatic sewer cleaning device. Guwahati became the first city in the Northeast region to get a manhole cleaning robot. 

About NESFB:
Managing Director, CEO – Rupali Kalita 
Headquarters – Guwahati, Assam

About Assam:
Governor – Jagdish Mukhi
National Parks – Kaziranga National Park, Saikhowa National Park, Rajiv Gandhi Orang National Park, Manas National Park, Nameri National Park