Mizoram Govt. Launches Bana Kaih Scheme and Innovation Challenge for Inclusive Development

Aizawal: The Government of Mizoram has signed a Memorandum of Agreement (MoA) with the State Bank of India (SBI), Mizoram Rural Bank (MRB), and Mizoram Co-operative Apex Bank Ltd ((MCAB), the government’s partner banks for loan disbursement under the Bana Kaih Scheme. Additionally, Chief Minister Pu Lalduhoma also officially launched the Chief Minister’s Bana Kaih Innovation Challenge.

The Bana Kaih Scheme, a flagship program of the Mizoram Government, aims to foster self-reliance and inclusive economic development in the state. The main objective of the scheme is to contribute to the realization of ‘Viksit Bharat’ and the achievement of the United Nations Sustainable Development Goals (SDGs). One of the primary components of the scheme is handholding to Progress Partners, under which eligible partners are provided loans from the partner banks. The government acts as a guarantor for these loans. Partners who repay their loans regularly are provided with interest subventions of up to 100%, thereby easing the financial burden on beneficiaries and encouraging timely repayment.

Besides the signing of the agreement, the CM also unveiled the Chief Minister’s Bana Kaih Innovation Challenge. The coordination and execution of these challenges will be overseen by the Planning & Program Implementation Department. Several competitive events will be organized, including:

1. Department Innovation Challenge: A number of government agencies will put forward and compete with certain projects aimed at delivering innovative solutions.
2. District Innovation Competition: Under the direction of their individual District Commissioners (DCs), each district in Mizoram will take part in this competition. Participation will also be open to NGOs, Primary Agricultural Credit Societies (PACS), Self-Help Groups (SHGs), Local Councils (LCs)/Village Councils (VCs), and registered societies.
3. The Local Immersion Challenge for Higher Educational Institutions: Mizoram’s government, central, and private colleges are all welcome to take part. Students will do fieldwork to pinpoint regional problems and offer practical solutions.
4. Inventor’s Challenge: This challenge is designed for innovators to present new ideas, practical solutions, and projects that can lead to significant progress for Mizoram. 

The best performers in these challenges will be felicitated with awards.

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