380/2024-2025

Dated Aizawl, the 18th December 2024: Today, in the presence of Chief Minister Pu Lalduhoma, a Memorandum of Agreement (MoA) was signed between the Government of Mizoram and Partner Banks—State Bank of India (SBI), Mizoram Rural Bank (MRB), and Mizoram Co-operative Apex Bank Ltd. (MCAB)—for loan disbursement under the Bana Kaih Scheme at the Chief Minister's Conference Hall. The Chief Minister also officially launched the Chief Minister's Bana Kaih Innovation Challenge.

The Bana Kaih Scheme is the flagship programme of the Mizoram Government, aimed at fostering self-reliance and inclusive economic development in the state. The primary objective of the scheme is to contribute to the realization of Viksit Bharat (Developed India) and the achievement of the United Nations Sustainable Development Goals (SDGs).

One of the key components of the scheme is Handholding to Progress Partners, under which eligible partners are provided loans from the partner banks. The government acts as a guarantor for these loans. Furthermore, for partners who repay their loans regularly, the government will provide interest subvention of up to 100%, thereby easing the financial burden on beneficiaries and encouraging timely repayment.

The signing ceremony was chaired by Pu Lalmalsawma Pachuau, Secretary of Planning & Programme Implementation. During the event, Pu Vanlaldina Fanai, Commissioner & Secretary to the Government of Mizoram, delivered the welcome speech to all attendees.

The MoA was signed on behalf of the Government of Mizoram by Pu Lalmalsawma Pachuau, Secretary of the Planning & Programme Implementation Department, and witnessed by Dr. Lalrinchhana, Principal Adviser-cum-Additional Secretary of the same department.

From the partner banks:

State Bank of India (SBI): The agreement was signed by Pu Hubert S.Z. Khobung, Regional Manager of the Regional Business Office in Aizawl, with Pu Neeraj Kapoor, Deputy General Manager of the Local Head Office in Guwahati, as a witness.

Mizoram Rural Bank (MRB): The agreement was signed by Pi Sheryl L. Vanchhong, Chairman of MRB, with Pu Naveen Thapa, Chief Manager of Loans & NPA, as a witness.

Mizoram Co-operative Apex Bank Ltd. (MCAB): The agreement was signed by Pu A. Lallungmuana, Chief Executive Officer of MCAB, with Pu H. Lalramdina, Assistant General Manager, as a witness.

Following the signing of the agreement, Chief Minister Pu Lalduhoma officially launched the Chief Minister's Bana Kaih Innovation Challenge.

Under the Bana Kaih Innovation Challenge, several competitive events will be organized, including:

1. Department Innovation Challenge: Various government departments will propose and compete with specific projects aimed at delivering innovative solutions.

2. District Innovation Challenge: All districts in Mizoram will participate in this challenge, led by their respective District Commissioners (DCs). NGOs, Local Councils (LCs)/Village Councils (VCs), Self-Help Groups (SHGs), Primary Agricultural Credit Societies (PACS), and registered societies will also be eligible to take part.

3. Higher Educational Institutes' Local Immersion Challenge: Government, central, and private colleges in Mizoram will be encouraged to participate. Students will engage in fieldwork to identify local challenges and propose practical solutions to address them.

4. Inventor's Challenge: This challenge is designed for innovators to present new ideas, practical solutions, and groundbreaking projects that can lead to significant progress for Mizoram. Innovations in technology, methods, or inventions that can drive transformation will be welcomed.

The best performers in these challenges will be rewarded with prizes.

The Planning & Programme Implementation Department will oversee and coordinate the smooth execution of these challenges.