Nagaland registers low financial literacy rate

February 9, 2024 44 Views No Comment

District level ToT training of FLCRPs at Zunheboto

Our Correspondent
Zunheboto | February 9

Nagaland State Rural Livelihoods Mission (NSRLM) State Programme Manager (Financial Inclusion) Rajuselie Lhousa today said that Financial Literacy rate of Nagaland is still at the low rate with 8% as per National Academy of RUDSETI (NAR) Bengaluru.

Speaking at the ongoing District level ToT training programme of Financial Literacy Community Resource Persons (FLCRPs) at Circuit House, Zunheboto under the aegis of Rural Development department, NSRLM and organized by District Mission Management Unit (DMMU) Zunheboto, Lhousa stressed on the need to increase the financial literacy rate of the state to at least 20%.

He said that financial literacy is a combination of financial awareness, knowledge, skills, attitude and behavior necessary to make sound financial decision and ultimately achieve individual financial well being.

Lhousa informed that 296 FLCRPs have been trained across the state so far.

After this training, the FLCRPs will organise 6 days training course of financial literacy in their respective blocks. The NSRLM is planning to train 11, 840 SHG members on financial literacy in the next financial year, he said.

He called upon the FLCRPs to generously disseminate the importance of financial literacy to the villagers in their respective block. “You are going to do a noble job,” he said and called upon them to do their job well to boost the rural economy.

He informed that the state government has been according a lot of importance for women empowerment. Stating that women are better manager, sincere, more discipline and dedicated and the government have confidence in them, Lhousa called upon them to make “your village financial literate.”

9,397 SHG members open bank account
Highlighting the status of Financial Inclusion under Zunheboto district (Cumulative) till February 2024, Kitoho Sumi, District Coordinator (Financial Inclusion), NSRLM, DMMU Zunheboto informed that there are 10, 311 Self Help Group (SHG) members under 8 block in the district. Out of this, 9,397 SHG members have already opened bank account. Out of 1, 277 SHGs, credit linkage have been connected to 131 SHGs, he said.

Duhuzu Kezo, Lead District Manager, Lead Bank Office Zunheboto also spoke at the programme. Vinivi Chisho, Bank Sakhi SBI Akuluto (Akuluto Block) and Elina Z Achumi, Business Correspondent Sakhi (Zunheboto Block) shared their journey in dealing with SHGs on banking matters.

The duo informed that they have been assisting the SHG members on opening bank account, banking transactions as well as helping the elderly persons on pension and other beneficial related matters.

Inokali S Aye from Akuluto Block shared learning experience from FLCRP training. She maintained that the training assumes importance as it focuses financial planning, setting up financial goals, bank credit linkage for SHG, digital finance, wise spending, enterprise financing, smart saving, matured borrowing and social security scheme.

The training will continue till February 10.