Self-Help Groups, Farmer Producer Organizations, and Individuals for identified activities.

With a view to encouraging credit for carrying out economic activities, the omnibus scheme under the name and nomenclature of CM’s Micro Finance Initiative has been approved by the Government. The Scheme will provide for interest subvention or subsidy for credit extended by banks to new borrowers under the category of Self-Help Groups, Farmer Producer Organizations, and Individuals for identified activities.

Under the Chief Ministers Micro Finance Initiative (CMMFI), the Beneficiary has to provide 10% of the proposed project cost and will seek Bank Finance of 60%. The remaining 30% will be provided as Back-ended Subsidy from Government of Nagaland.