Imphal: Textiles, commerce and industry minister Nemcha Kipgen on Friday inaugurated the Churachandpur Branch Office of North Eastern Development Finance Corporation Limited (NEDFi) at Radiant Complex, Churachandpur.
Public financial institutions like NEDFi plays a significant role in the economic development and as a source of low interest capital to entrepreneurs in the North East, Nemcha said.
While highlighting the engagement of the department of commerce and industry, Manipur in streamlining the industrial policies with an eye on improving the ease of doing business, the minister expressed that the opening of such branch offices will bring a change in the socio-economy of the state in infrastructure, healthcare, tourism, education, micro and small enterprises.
NEDFi is committed to ensure the improvement of income levels of common man of the region by bringing innovative schemes for the benefit of first-generation entrepreneurs as well at competitive rate for productive purposes. It aims to bring down the cost of funds to micro, medium units and also to artisans by meaningful intervention. NEDFi has launched schemes in this direction and is committed to implement them by opening branches at strategic locations so as to cover even far-flung areas through technology and Business Correspondence model. NEDFI has opened 20 branch offices all across the North East.
The inaugural function was also graced by CMD, NEDFi, PVSLN Murty and the concerned officials.