Imphal, February 25: In a significant initiative aimed at strengthening financial inclusion and promoting sustainable rural livelihoods, the Manipur State Rural Livelihoods Mission (MSRLM) has signed a Memorandum of Understanding (MoU) with Canara Bank to enhance bank linkage support for Self-Help Groups (SHGs) across the state.
 |
| MSRLM State Mission Director N. Bandana Devi and Canara Bank’s Divisional Manager Debangan Mukherjee display the signed MoU to strengthen SHG bank linkages in Manipur. (Image: X@govt_of_manipur) |
The agreement was signed in the presence of Smt. N. Bandana Devi, IAS, State Mission Director, MSRLM, and Mr. Debangan Mukherjee, Divisional Manager, Regional Office, Silchar, Canara Bank, marking a new phase of collaboration between the state government's rural livelihood mission and the banking sector.
According to officials, the partnership seeks to improve access to institutional credit and banking services for Self-Help Groups, particularly those led by rural women. The initiative is expected to enable SHGs to expand their income-generating activities, strengthen micro-enterprises, and improve the overall socio-economic conditions of rural households.
The MoU provides a framework for closer coordination between MSRLM and Canara Bank to facilitate timely credit support, simplify banking procedures, and ensure greater financial accessibility for grassroots-level community institutions. Officials said the collaboration would help streamline loan processing, improve credit flow, and strengthen the financial ecosystem supporting SHGs throughout Manipur.
ALSO READ: Four Militants Arrested in Tengnoupal, Arms Recovered in Imphal East
The initiative is also expected to encourage financial literacy, promote regular banking practices, and enhance the capacity of Self-Help Groups to manage savings, access affordable credit, and undertake productive livelihood activities. By strengthening institutional support, the programme aims to create sustainable livelihood opportunities and foster entrepreneurship among rural women.
Officials noted that the partnership aligns with the objectives of the National Rural Livelihoods Mission (NRLM), which seeks to empower rural communities through financial inclusion, skill development, and economic self-reliance.
The collaboration between MSRLM and Canara Bank is regarded as a major step toward building resilient rural economies in Manipur. By expanding access to formal financial services and strengthening the SHG movement, the initiative is expected to contribute significantly to poverty reduction, women’s empowerment, and inclusive economic growth across the state.
