Implementation of the Chief Minister’s Micro Finance Initiative (CMMFI) in Kohima is facing delays due to slow beneficiary selection processes and mounting pressure on banks handling loan applications, officials said.
Launched in August 2022 to promote grassroots entrepreneurship and improve agricultural productivity, the scheme offers loans of up to Rs 50 lakh with a 30 per cent subsidy capped at Rs 5 lakh. It also provides collateral-free credit and interest support during a six-month moratorium period.
Deputy Commissioner Kohima, B. Henok Buchem, said beneficiary selection by the District Level Implementation and Monitoring Committee (DLIMC), scheduled every two months, has often been delayed because of a high volume of applications and administrative constraints. He said delays sometimes extend beyond a month.
For the 2025-26 financial year, 154 loans were sanctioned under the scheme. However, several banks are yet to upload sanction letters on the credit portal. Popular ventures among beneficiaries include piggery units, pick-up trucks and provision stores.
Officials said excessive concentration of applications at branches of State Bank of India in Main Town, Lerie and Bazar areas has increased workload and slowed processing. Frequent requests from applicants to change banks or alter projects after approval have also delayed disbursement.
