In a significant step toward expanding financial access and rural empowerment, the Manipur State Rural Livelihoods Mission (MSRLM) signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) at the New Secretariat in Imphal.
The partnership aims to bring banking services closer to self-help groups (SHGs), create sustainable livelihood opportunities, and advance the state’s rural development goals.
Key Areas of Collaboration
Under the MoU, MSRLM and PNB will focus on three major areas:
SHG Banking Access: Opening and facilitating savings accounts, along with ensuring timely credit linkages for women-led SHGs.
Business Correspondents in Villages: Eligible SHG members will be placed as Business Correspondents (BCs) in unbanked blocks, helping expand doorstep banking.
Lakhpati Didi Initiative: Special support will be extended to SHG women aspiring to become “Lakhpati Didis” — earning a sustainable annual income of at least ₹1 lakh.
Leaders Present at the Signing
The MoU was signed in the presence of:
Smt. N. Bandana Devi, IAS, State Mission Director, MSRLM
Shri Vinay Kumar, Zonal Manager, PNB, Guwahati Zone
Senior officials from both MSRLM and PNB were also part of the signing ceremony.
Why It Matters for Manipur
This collaboration goes beyond financial linkages — it’s about building confidence and self-reliance among rural women. With SHGs already playing a vital role in local economies, access to formal banking and credit can accelerate income-generating activities in farming, weaving, handicrafts, and small businesses.
By introducing SHG members as Business Correspondents, the partnership directly tackles the last-mile banking challenge in remote and unbanked areas. Villagers will now have access to essential banking services without traveling long distances.
Voices from the Event
Speaking at the ceremony, Smt. N. Bandana Devi highlighted that the tie-up reflects MSRLM’s mission to strengthen rural livelihoods by empowering women-led SHGs with financial independence.
Shri Vinay Kumar, Zonal Manager of PNB, reaffirmed the bank’s commitment to supporting grassroots entrepreneurship and said the MoU will help scale up financial inclusion efforts in Manipur.
Looking Forward
The MSRLM–PNB collaboration is expected to significantly strengthen the Lakhpati Didi initiative, which focuses on enabling at least one woman in every SHG household to achieve a sustainable livelihood. With improved credit facilities and banking access, more rural families are likely to move toward financial stability and resilience.
This partnership positions Manipur as a proactive state in leveraging SHG networks for inclusive growth and financial empowerment.