Chief Minister’s Micro Finance Initiative Nagaland – Overview: Learn about the Chief Minister’s Micro Finance Initiative in Nagaland, which supports farmers, entrepreneurs, and self-help groups with financial aid to boost agriculture and small enterprises.
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Important Details – Chief Minister’s Micro Finance Initiative
| Date | Location |
|---|---|
| 23rd August 2022 | Capital Cultural Hall, Kohima |
| Union Minister of Finance | Nirmala Sitharaman |
| Chief Minister of Nagaland | Neiphiu Rio |
Overview of the Initiative
| Purpose | Description |
|---|---|
| Farmers’ Income | Increase investment in agriculture and allied sectors |
| Credit Accessibility | Make credit more affordable and accessible |
| Support for Entrepreneurs | Assist young entrepreneurs and small enterprises |
Benefits
| Benefit | Description |
|---|---|
| Increased Investment | Boosts investment in agriculture and small enterprises |
| Credit Discipline | Encourages better credit practices |
| Improved Infrastructure | Enhances agri-marketing networks and infrastructure |
| Private Enterprise | Supports the growth of private enterprises |
Eligibility Criteria
Here are the basic requirements for eligibility:
| Category | Criteria |
|---|---|
| Individual Farmers | Must not be bank defaulters, have sufficient land, and relevant experience |
| Self-Help Groups | Must meet Panchasutra criteria and have adequate land for activities |
| Farmer Producer Organizations | Must be registered, have audited balance sheets, and meet other financial criteria |
Application Process
To apply:
| Step | Details |
|---|---|
| Submit Application | Apply to the District Level Implementation cum Monitoring Committee |
| Document Submission | Provide required documents like ST Certificate and land ownership proof |
| Review | Applications are reviewed by a Screening Committee |
Frequently Asked Questions
| Question | Answer |
|---|---|
| What is the initiative about? | It supports farmers and entrepreneurs with financial aid to boost agriculture and small businesses. |
| Who can apply? | Individual farmers, self-help groups, and farmer producer organizations are eligible. |
| How do I apply? | Submit an application to the District Level Implementation cum Monitoring Committee. |
| What documents are needed? | Documents include ST Certificate, land ownership proof, and education qualifications. |
| What are the benefits? | Benefits include increased investment, improved infrastructure, and better credit practices. |
| Is there any additional support? | Additional interest subvention is provided beyond existing Central Government schemes. |
Tags: Chief Minister's Micro Finance Initiative, Nagaland