Nagaland: Villages in Thonoknyu face banking access challenges

FI campaign stresses financial literacy, insurance and safe bankingMorung Express NewsNoklak | October 21The Financial Inclusion (FI) Saturation Campaign was held at the Thonoknyu Baptist Church Guest House, Noklak district, on October 21, under the theme “Towards a Financially Inclusive and Empowered Nagaland.”The purpose of the campaign was to strengthen financial inclusion in remote and far-flung areas. Thonoknyu block, with a population of 13,000 to 15,000 across 19 villages, was identified as an unbanked area where access to formal banking and financial services remained a challenge. The campaign was also seen as an opportunity to bridge the gap between local communities and the formal banking system by creating greater awareness of available financial services and government schemes.Branch Manager of NSCB, Noklak, Temsulepden, emphasised awareness of KYC and KYC re-verification, highlighting the need for villagers to keep their banking documents, including Aadhaar and PAN cards, updated to facilitate convenient access to banking services. He explained the classification of bank customers into low-, medium- and high-risk categories. He stated that the low-risk category generally included customers with lower-income accounts and small account balances, making it convenient for villagers. He also highlighted the importance of re-verification in maintaining access to banking services and encouraged villagers to maintain good relationships with their banks.Branch Manager of SBI, Noklak, Mingge Lego, highlighted four government-backed financial inclusion and social security schemes: the Pradhan Mantri Jan Dhan Yojana (PMJDY), which provides access to basic banking services; the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which offers life insurance coverage; the Pradhan Mantri Suraksha Bima Yojana (PMSBY), which provides insurance against accidental death and disability; and the Atal Pension Yojana (APY), which helps eligible beneficiaries secure a regular pension after the age of 60. He encouraged villagers to avail themselves of these schemes to strengthen their financial security.Sub-Divisional Officer (Civil), Thonoknyu, Tsiatsusie, urged villagers to open bank accounts for financial security and safe transactions. He highlighted the availability of agricultural produce in the area but pointed out the lack of proper market linkages and access to banking services as challenges faced by local farmers. He also stressed the importance of having an SBI branch in the area, noting that most bank account holders were SBI customers.NABARD representative Imkong Yanger Imchen briefed the gathering on the role of the National Bank for Agriculture and Rural Development (NABARD) in promoting rural development and financial inclusion through various projects and initiatives. He highlighted the importance of having a bank account as a basic step towards financial inclusion, along with the need for insurance, pension schemes, ATM facilities and financial awareness. He encouraged the youth to become financially literate, develop responsible financial habits and contribute to the growth and development of Thonoknyu.Reserve Bank of India (RBI) representative Thanggonmang Hangsing emphasised the importance and functions of the RBI. He encouraged villagers not only to open bank accounts but also to develop regular savings habits, prepare monthly budgets and practise proper financial management.Lead District Manager (LDM), Noklak, Tenuakum, conducted an awareness session on cybercrime, advising bank account holders to remain vigilant against fraudulent calls from individuals posing as bank officials. He cautioned them against responding to suspicious or unnecessary calls and urged them not to disclose sensitive banking information, including account details, PINs and OTPs, to prevent financial fraud.Banking services were also provided to villagers during the event.The programme was chaired by T. Tainyu, Area Coordinator, FI NSRLM, Thonoknyu block. The welcome address was delivered by H. Lalhlimpuia, Coordinator, SBLC, Kohima, while Yantsutong of the Village Council delivered a short speech. The invocation was pronounced by Shingnyo, Pastor, TBC, and the benediction was pronounced by Tali, Pastor, TVBC. Special numbers were presented by Atipo, VLO, Thonoknyu, and Nokye, VLO, Chilliso village. The vote of thanks was delivered by Tenuakum, LDM, Noklak.