Aizawl, Mizoram: The Mizoram government, under the leadership of Chief Minister Pu Lalduhoma, took significant strides towards economic development and innovation today.
The state government signed a Memorandum of Agreement (MoA) with three partner banks—State Bank of India (SBI), Mizoram Rural Bank (MRB), and Mizoram Co-operative Apex Bank Ltd. (MCAB)—to facilitate loan disbursement under the Bana Kaih Scheme.
Simultaneously, the Chief Minister also launched the Chief Minister’s Bana Kaih Innovation Challenge, an initiative aimed at fostering creativity and innovation across various sectors in the state.
The Bana Kaih Scheme, a flagship program of the Mizoram government, aims to contribute to India’s vision of a Viksit Bharat and align with the United Nations Sustainable Development Goals (SDGs). The scheme offers financial support to eligible partners through loans from the three partner banks, with the government acting as a guarantor. The government will offer interest subvention of up to 100% for those who repay their loans regularly.
The MoA was signed at the Chief Minister’s Conference Hall, with key officials from the government and the partner banks present. The Chief Minister’s Bana Kaih Innovation Challenge will include multiple competitive events, such as the Department Innovation Challenge, District Innovation Challenge, Higher Educational Institutes’ Local Immersion Challenge, and the Inventor’s Challenge. Top performers in these challenges will be awarded prizes.
By launching these initiatives, the Mizoram government aims to create a more innovative and prosperous future for the state.
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