Guwahati: In a bid to promote entrepreneurship and allied activities in the State and the rest of NE, the North Eastern Development Finance Corporation (NEDFI) and Nightingale Finvest Pvt Ltd have signed a memorandum of understanding to facilitate easy flow of funds to the budding entrepreneurs on easy terms and conditions.

Nightingale Finvest Pvt Ltd (NFPL) is a premier non-banking financial company (NBFC) in the Northeast.

For the last two decades, NFPL has been providing easy financial assistance by way of microloans to the economically backward class of people in Assam and other northeastern States. It has also been playing a vital role in the overall growth and economic activities with dee penetration in the region.

As per the MoU, the maximum loan per borrower would be Rs 2 lakh, which would be given without any collateral, for business and allied activities.

"The credit flow in the NE States is very low. The initiative taken by the Chief Minister to bring Assam in the list of the top five developed States is laudable," Mantu Nath Sarma, managing director of the NFPL said.

"NEDFi has been playing an important role for last 25 years in the economic growth and development of the NE States. The collaboration will surely help many towards at training, self-sufficiency, and financial independence that would ultimately contribute to the economic development of the region," he added.