Aizawl, Dec 18 (PTI) The Mizoram government on Wednesday signed agreements with partner banks to provide loans to beneficiaries of the state’s flagship programme, ‘Bana Kaih’ or handholding scheme, an official said.
The Memorandum of Agreement (MoA) was signed with three partner banks — State Bank of India (SBI), Mizoram Rural Bank (MRB) and Mizoram Cooperative Apex Bank Ltd. (MCAB) — in the presence of Chief Minister Lalduhoma here, he said.
The ‘Bana Kaih’ scheme was launched by Lalduhoma on September 19 to provide financial assistance and support to entrepreneurs and farmers across the state through a series of targeted programmes designed to promote economic growth and self-sufficiency.
The initiative seeks to address the issue of institutional credit availability, particularly microcredit, for both agriculture and small industrial endeavours. The programme will be converged with various schemes and initiatives of the central government, officials said.
The government will provide financial support and offer loans of up to Rs 50 lakh to beneficiaries through partner banks. The government will serve as guarantor for these project loans under existing national credit guarantee schemes and beneficiaries, who timely repay their loans will be provided interest subvention of up to 100 per cent.
The state government has allocated Rs 200 crore for the implementation of the ‘Bana Kaih’ scheme in the 2024-25 fiscal.
The ‘Chief Minister’s Bana Kaih Innovation Challenge’ was also launched on Wednesday under which innovative challenge competitions will be held among departments, district administrations, village councils, NGOs, self-help groups (SHGs), Primary Agricultural Credit Societies, institutions and private innovators for the progress of the state. PTI CORR ACD
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