Imphal: Chief Minister N. Biren Singh virtually inaugurated two new branches of The Manipur State Co-operative Bank Ltd. (MSCB) on Thursday from the Cabinet Hall at the Chief Minister’s Secretariat.
During the event, the Chief Minister highlighted the significant impact of the ongoing crisis in the State, which has displaced many residents, forcing some to seek refuge in relief camps. He underscored the urgent need for the Bank to prioritize support for Internally Displaced Persons (IDPs) currently residing in these camps.
CM Biren Singh pointed out that nationalized banks, with their stringent lending norms, have often left villagers without access to loans. In contrast, MSCB has been more flexible, providing soft loans to the underprivileged, including those displaced by the crisis. He expressed confidence that the bank will continue to support fish farmers affected by the recent floods in the State.
The Chief Minister commended MSCB for its grassroots efforts, especially its support for 1,195 women Self Help Groups (SHGs) and its provision of collateral-free credit worth around ₹17 crore, including nearly ₹15 crore under the Startup scheme. He urged borrowers to practice financial discipline, enabling them to access loans more easily in the future.
CM Biren Singh expressed hope that the newly opened branches would enhance financial services at the grassroots level.
The virtual inauguration was attended by Chairman MANIDCO Kongkham Robindro Singh and MLA Moirang AC Th. Shanti Singh, who joined from the Mayang Imphal and Moirang branches, respectively. Chief Secretary Dr. Vineet Joshi, officials from NABARD, and MSCB representatives were also present at the Chief Minister’s Secretariat.
