Nagaland Credit Empowerment Summit was held at Noune Resort Dimapur on 20th sept 2024. In the first session of the summit Dr. J Alem, IAS Chief Secretary Nagaland delivered the welcome address and presented the overview of the Banking & Credit status in the state.
While addressing the gathering, Chief Secretary stated that the banking sector in the state has being performing much below the national average in almost all the parameters and that has been the constant worry for the State because very important channel of funds is kind of stranded in the state. Chief Secretary also mentioned that the average household coverage in the banking sector in the state is only 55% whereas the national average is about 80% and Credit Deposit ratio is 55-57% in the state compared to 75% national average , and so he urged the bankers present to come up with the credible plan to ensure these gaps are bridged.
(Vihepu IA Niuland )