NEDFi is always ready to provide loans at affordable rates to entrepreneurs, says Chairman
Source: The Sangai Express

Imphal, September 14 2022: North Eastern Development Finance Corporation Ltd (NEDFi) Chairman PVSLN Murty has said that the Corporation is always ready to provide loans to entrepreneurs at affordable rates.

He made the above statement while speaking at a function organized by UNACCO for felicitating him and NEDFi Deputy General Manager AK Das at Hotel Classic Grande, Chingmeirong yesterday.

The Chairman further said that the NEDFi has been taking risks in financing many private organizations apart from promoting MSMEs and small borrowers.

Saying that artisans and weavers from remote areas are facing many inconveniences in terms of investment and selling their products, he said that the corporation (NEDFi) is also planning to provide free skill training to women of financially backward section.

NEDFi is always ready to provide loans at affordable rates to entrepreneurs, says Chairman

He added that the trainees will be provided raw materials and market facilities by the company at free of cost besides giving sponsorship to the trainees for participating in various expos and exhibitions.

Contending that there are lots of gap between the haves and have-nots, the Chairman went on to state that NEDFi is ready to provide loans at affordable rates to entrepreneurs who want to embark on business activities.

While stating that NEDFi has decided to start Venture Capital Fund, which amounts to a total value of 430 Crores in different Northeast States, he said that the Corporation and the Manipur Government had also reached an agreement for the same purpose.

He added that NEDFi and Manipur Government will contribute 15 Crores each in the said joint venture.

Speaking at the occasion, UNACCO Chairman Ningombam Irabanta underscored the importance of building good relationships between bankers/financers, entrepreneurs and customers.

He further stressed on the need for organizing more business meetings to build up trust and relationship between bankers/financers and customers.

While lauding NEDFi for empowering the entrepreneurs of Manipur, the Chairman said that the Corporation has sanctioned Rs 190 Crores to UNACCO for its development since the last 15 years.

He expressed hope that NEDFi will continue to nurture the entrepreneurs in the State and added that the same enterprise will lead to more development in the State.

The function was also attended by many renowned entrepreneurs from the State, including Babina Group of Companies Chairman Thangjam Dhabali.

The highlight of the programme included showcasing of cultural performances.