Imphal, Sept 26: Chief Minister N. Biren Singh virtually inaugurated two new branches of The Manipur State Co-operative Bank Ltd. (MSCB) today, from the Cabinet Hall of the Chief Minister’s Secretariat.
During the inauguration, the Chief Minister addressed the ongoing crisis in the state, which has left many people affected and some residing in relief camps. He stressed the urgent need for the bank to offer extensive support to the Internally Displaced People (IDPs) living in these camps.
Highlighting the limitations of nationalized banks due to their strict lending norms, he praised MSCB for its more flexible approach. The Chief Minister noted that MSCB has been providing soft loans to impoverished individuals and IDPs, helping them significantly. He expressed confidence that the bank would also assist fish farmers impacted by recent floods.
Both new branches are located in areas with substantial fishing communities. The Chief Minister emphasized that these branches would prioritize loan services for local fishers. He acknowledged MSCB’s continued support at the grassroots level, including its backing of around 1,195 women Self-Help Groups (SHGs) and disbursing collateral-free credit worth approximately ₹17 crores, as well as around ₹15 crores under the Start-Up Scheme.
He encouraged borrowers to maintain good financial practices to facilitate easier access to bank loans and expressed hope that the new branches would improve financial services in the region.
The virtual inauguration was attended by MANIDCO Chairman Shri Kongkham Robindro Singh and MLA Moirang AC Shri Th. Shanti Singh from the Mayang Imphal and Moirang branches, respectively. Chief Secretary Dr. Vineet Joshi, NABARD officials, and MSCB representatives also participated in the ceremony from the Chief Minister’s Secretariat.
