Credit Outreach Programme Boosts Bihar’s Economy
Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman recently chaired a significant Credit Outreach Programme in Madhubani, Bihar. The event aimed to enhance financial inclusion and support economic development in the region. It was attended by key political figures, financial institutions, and local beneficiaries. The programme not only focused on distributing loans but also highlighted the government’s commitment to improving the lives of citizens through various initiatives.
Key Attendees and Their Roles
The Credit Outreach Programme saw the participation of several notable figures. Bihar’s Deputy Chief Minister, Shri Samrat Choudhary, expressed gratitude to Smt. Sitharaman for her visit. He emphasized the ongoing efforts under the Prime Minister’s guidance to foster economic growth in the area. The event also included Members of Parliament (MPs) such as Shri Rampreet Mandal, Shri Sanjay Kumar Jha, and Dr Ashok Kumar Yadav, along with Members of Legislative Assembly (MLAs) like Shri Vinod Narayan Jha and Shri Sudhanshu Shekhar.
In addition to political leaders, several high-ranking officials from financial institutions were present. Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), and Shri K.V. Shaiji, Chairman of NABARD, were among the attendees. Their involvement underscores the collaborative effort between the government and financial institutions to enhance credit access for the local population. This collective participation highlights the importance of multi-stakeholder engagement in driving economic initiatives.
Financial Support and Initiatives
During the programme, Smt. Sitharaman distributed loans totalling Rs. 1,121 crores to 50,294 beneficiaries through various banks. This substantial financial support aims to empower individuals and small businesses, enabling them to invest in their ventures and improve their livelihoods. Additionally, NABARD and SIDBI announced funding of over Rs. 155.84 crore and Rs. 75.52 lakh, respectively, for rural road projects. These initiatives are crucial for enhancing infrastructure and connectivity in rural areas, which can lead to further economic development.
Moreover, the event included the distribution of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) cards to senior citizens aged 70 and above. This health insurance scheme aims to provide financial protection for healthcare expenses, ensuring that the elderly population has access to necessary medical services. Such initiatives reflect the government’s commitment to improving the overall quality of life for its citizens.
Promoting Local Entrepreneurship and Community Welfare
Smt. Sitharaman’s visit also included a tour of around 25 stalls showcasing local products and handicrafts. These stalls featured entrepreneurs who received financial support from banks and NABARD. By promoting local entrepreneurship, the government aims to boost the economy and create job opportunities within the community.
Furthermore, the Union Finance Minister distributed five copies of the Constitution in Maithili and Sanskrit to distinguished citizens, promoting awareness of constitutional rights and responsibilities. The event also saw banks sanctioning assistance under Corporate Social Responsibility (CSR) activities, focusing on improving infrastructure in schools, particularly those for girls. This commitment to education and community welfare is vital for fostering long-term development.
In conclusion, the Credit Outreach Programme in Madhubani represents a significant step towards enhancing financial inclusion and supporting economic growth in Bihar. Through collaborative efforts between government officials, financial institutions, and local communities, the initiative aims to create a more prosperous future for the region.
Observer Voice is the one stop site for National, International news, Editor’s Choice, Art/culture contents, Quotes and much more. We also cover historical contents. Historical contents includes World History, Indian History, and what happened today. The website also covers Entertainment across the India and World.
Follow Us on Twitter, Instagram, Facebook, & LinkedIn