Imphal, September 8, 2025: In a major step towards strengthening financial inclusion and empowering rural communities, the Manipur State Rural Livelihoods Mission (MSRLM) on Monday signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) at the New Secretariat in Imphal.
The partnership aims to expand access to formal banking services for rural communities, particularly members of Self-Help Groups (SHGs), while promoting sustainable livelihoods and women's economic empowerment across Manipur.
The MoU was signed in the presence of N. Bandana Devi, IAS, State Mission Director of MSRLM, and Vinay Kumar, Zonal Manager of PNB, Guwahati Zone. Senior officials from both organisations were also present during the signing ceremony.
Under the agreement, Self-Help Groups affiliated with MSRLM will gain improved access to a wide range of banking facilities, including savings accounts, credit linkages, financial assistance, and other formal financial services. Officials said the initiative is expected to make banking services more accessible to rural households while encouraging greater financial literacy and inclusion.
One of the key features of the collaboration is the creation of opportunities for eligible SHG members to serve as Business Correspondents (BCs) in unbanked and underserved areas of the state. These Business Correspondents will act as banking facilitators, enabling villagers to access essential financial services closer to their homes without travelling long distances to bank branches.
Officials said the initiative would help bridge the gap between financial institutions and remote rural communities by extending banking services to areas where access remains limited. It is also expected to create additional livelihood opportunities for women associated with Self-Help Groups.
The partnership will further support the implementation of the Lakhpati Didi initiative, a flagship programme aimed at enabling rural women to achieve sustainable annual incomes and become financially self-reliant. Through better access to institutional credit, entrepreneurship support, and financial services, the programme seeks to strengthen women's economic participation and improve household incomes.
Speaking on the occasion, officials from both MSRLM and Punjab National Bank emphasised that the collaboration reflects a shared commitment to inclusive development, rural prosperity, and women's empowerment. They noted that financial inclusion plays a critical role in reducing poverty, promoting entrepreneurship, and improving the socio-economic conditions of rural families.
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The officials added that stronger collaboration between government agencies and financial institutions would accelerate the delivery of banking services to marginalised communities while supporting rural enterprises, self-employment, and income-generating activities.
With the signing of the MoU, the Government of Manipur aims to strengthen the rural financial ecosystem and enhance the reach of institutional banking across the state. Authorities expressed confidence that the initiative would benefit thousands of Self-Help Group members by improving access to formal financial services, promoting entrepreneurship, and creating sustainable livelihood opportunities, thereby contributing to the state's long-term goals of inclusive growth and rural development.
