Churachandpur: In an era dominated by app-based payments and fintech valuations, a quiet banking breakthrough arrived in Manipur on Friday — one measured not in downloads, but in distance saved.Residents of Pherzawl district, tucked into Manipur’s extreme southwest and defined by steep, rugged terrain, got their first-ever bank branch since Independence with the inauguration of the State Bank of India’s Parbung Branch. For the district administration, the moment carried a clear message — Pherzawl is no longer an unbanked district.Until now, routine banking meant travel that could consume an entire day — or more. Residents often had to travel nearly 200 kilometres to Churachandpur or around 50 kilometres to Thanlon for basic transactions — withdrawing cash, depositing savings, updating passbooks, or completing paperwork for govt-linked schemes. In a district where roads are challenging and settlements are scattered, banking was not just an errand, it was an expedition.SBI chairman Challa Sreenivasulu Setty virtually inaugurated the branch from the bank’s local head office in Guwahati. Parbung, the branch location, lies about 270 km south of Imphal, underscoring the remoteness the new facility is meant to serve.Carved out of Churachandpur in 2016, Pherzawl is among the youngest of Manipur’s 16 districts and one of the most isolated. The absence of a bank had long been a practical barrier — slowing access to formal credit, complicating savings, and forcing residents to rely on distant towns for services.Deputy commissioner Mannuamching, who attended the inauguration with district-level officials, said, “The presence of a nationalised bank will enhance governance efficiency and public service delivery,” she said, pointing to the administrative lift that comes when payments, verifications, and account-based services can be handled locally.D Lalmuon K Gangte, chief manager of SBI Agri & MSME Credit Centre at Churachandpur, said the branch would help promote savings, encourage entrepreneurship, and support sustained growth — particularly important in a region where small businesses and farm-linked livelihoods often struggle to access formal finance.Timothy Zote, a social worker, told TOI the establishment of the new bank branch will be of immense benefits for the public and the student community.The inauguration brought together district police, SBI representatives, civil society organisations, and the Parbung Village Authority — an attendance that reflected how widely the change is expected to ripple. For residents, the branch represents something immediate and tangible — fewer costly trips, less time lost to travel, and a reliable banking counter within reach.
