Mount Mary College holds workshop on financial literacy

DIMAPUR — Mount Mary College, Chümoukedima, in collaboration with the Research and Information System for Developing Countries (RIS) and the North Eastern Training, Research and Advocacy (NETRA) Foundation, organised a one-day workshop on financial literacy with the theme “Women-led development”.

According to an update, Dr. Moameren Pongen, assistant professor at St. Joseph University, provided a brief introduction to the workshop, highlighting the issues and challenges related to self-help groups (SHGs).

W Temshiba Ao, senior branch manager at Bank of Baroda, highlighted the numerous opportunities that self-help groups can explore and utilise for their benefit.

He outlined five key practices that every self-help group should follow: holding regular meetings, maintaining regular savings, engaging in inter-loaning, ensuring timely repayment of bank loans, and properly maintaining records of income, expenditure, and other related documentation.

This was followed by a Q&A session in which participants from various SHGs clarified their questions about the loan process, repayment issues, defaulters, Cibil scores, and other related topics.