A review meeting of the implementation of the Chief Minister’s Micro-Finance Initiative (CMMFI) Scheme was held on 8th December 2022 in the Conference Hall of the Chief Secretary. The Meeting was chaired by J Alam, IAS, Chief Secretary, along with senior officials from the State Government and the Bank. The Deputy Commissioner who is the Chairman of the District Level Implementation-cum-Monitoring Committee (DLIMC) attended along with the members through a video conference.
Issues pertaining to the implementation of the CMMFI scheme were discussed threadbare during the meeting. The Chief Secretary apprised that the CMMFI scheme was one of the two flagship programmes launched by the State Government in addition to the Chief Minister’s Health Insurance Scheme (CMHIS) and therefore, asked all the Deputy Commissioners to give it their top priority and lead from the front with regard to its implementation. He asked the Deputy Commissioners to conduct awareness programmes in their respective district by the 15th of December 2022. He appreciated Wokha District for the proactive role played in creating awareness and receiving applications for scrutinizing and approval. He encouraged the other Districts to follow suit and also create a District Facilitation Centre with members drawn from the Agri & Allied Departments in the District in order to expedite the implementation of the Scheme.
The Development Commissioner, Amardeep S Bhatia, IAS also highlighted the Chief Minister’s Health Insurance Scheme (CMHIS) and asked the Deputy Commissioners to ensure the saturation of registration of all government employees and the public under the health insurance Scheme so that health cards can be issued to all before the election process starts.
Further, the APC, Y Kikheto Sema, IAS reiterated that the Chief Minister’s Micro-Finance Initiative (CMMFI) Scheme is a first-of-its-kind scheme in the State where the loan component is 60% to be provided by the banks and the State government will provide 30% of the total project cost as a back-ended subsidy and the beneficiary will have to contribute just 10% of the project cost. In addition, KCC holders will have the additional benefit of a 4% interest subvention by the State government. He also stated that the total cost of the CMMFI Scheme would be around ₹ 217.00 crore, out of which ₹65.00 crore is subsidy from the State government, ₹ 130.00 crore from the Bank, and ₹ 22.00 crore as beneficiary contribution. The CMMFI is expected to generate employment opportunities for about 1500 unemployed youths/entrepreneurs.
The Deputy Commissioners assured that they would organize awareness campaigns before 15th December 2022 and give maximum efforts for the success of the State Flagship programme.
The Chief Secretary also directed the Lead bank to issue fresh directives to all the bank branches regarding their role and responsibility in the implementation of the CMMFI Scheme so as to ensure the timely dispersal of loans to the beneficiaries.
