Union Finance Minister Visits Itanagar and Namsai for Credit Outreach Programmes
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, took part in two major Credit Outreach Programmes today in Itanagar and Namsai, Arunachal Pradesh. These programmes aim to enhance financial inclusion and boost economic growth in the region.
Programme Highlights in Itanagar
At the event in Itanagar, Smt. Sitharaman was joined by Shri Pema Khandu, Chief Minister of Arunachal Pradesh, Shri Chowna Mein, Deputy Chief Minister, and other high-ranking officials from the Central and State Governments, including representatives from SBI, PNB, NABARD, and SIDBI. This event was designed to help individuals and businesses access financial resources for their growth.
During this programme, 160 beneficiaries received sanction letters for loans amounting to Rs. 14.4 crore under various schemes. These included loans to retailers, MSMEs, and agricultural financing initiatives.
Key contributions from financial institutions included:
- NABARD gave Rs. 1.5 crore to Rajiv Gandhi University to create a Rural Business Incubation Centre and sanctioned Rs. 18 crore for additional projects.
- SIDBI provided Rs. 40 lakh to micro-enterprises, supporting small businesses in their expansion.
SBI’s CSR Initiatives
As part of its Corporate Social Responsibility (CSR), SBI contributed important resources to the community in Itanagar. These included:
- An ambulance
- A hearse van
- 50 bicycles for girl students
These efforts demonstrate SBI’s commitment to improving the quality of life for people in the region.
Smt. Sitharaman also launched two financial literacy vans from NABARD and a mobile medical unit from SIDBI to raise awareness about financial services and healthcare in rural areas.
Encouragement for Financial Inclusion
During her address, the Union Finance Minister praised the progress made towards building a Viksit Bharat (Developed India) and emphasized the importance of improving banking facilities in Arunachal Pradesh. She urged banks to increase the number of banking correspondents and open more bank branches across the state. This will help the people of Arunachal Pradesh start new businesses and grow economically.
Programme in Namsai: A Focus on Growth
In the second Credit Outreach Programme in Namsai, Smt. Sitharaman served as the Chief Guest, while Shri Chowna Mein was the Guest of Honour. A major highlight of this event was the opening of the Regional Business Office (RBO) of SBI in Namsai, which is expected to improve financial services in this Aspirational District.
As part of the event, the Union Finance Minister also planted a sapling in support of the ‘Ek Ped Maa Ke Naam’ campaign initiated by Prime Minister Shri Narendra Modi. This act symbolizes the government’s dedication to sustainability and community welfare.
Financial Support in Namsai
In Namsai, 195 beneficiaries received loans totaling Rs. 6.8 crore under various financial schemes. Additionally:
- NABARD sanctioned Rs. 92.5 lakh for projects like GI registration, rural marts, and micro-ATMs.
- SIDBI provided Rs. 1.5 lakh to support women’s livelihood programmes.
During the event, SBI also donated a school bus and distributed 100 bicycles to girl students as part of its CSR activities.
Encouraging Local Business and GI Tagged Products
Smt. Sitharaman praised the progress of Namsai under the Aspirational District Programme and highlighted the potential of GI-tagged products from Arunachal Pradesh. With 20 GI tags already granted to the state, the Finance Minister encouraged local entrepreneurs to take these products to national and international markets.
She also spoke about how digital technology like Bharat Net, 5G, and the Open Network for Digital Commerce (ONDC) will help small and micro-businesses access wider markets. In particular, she encouraged banks to support unique local crafts, such as boat-making, under the PM Vishwakarma scheme.
Increased Opportunities for Women and Small Businesses
Smt. Sitharaman’s interaction with women self-help groups (SHGs) was another key highlight. These groups are playing a vital role in improving livelihoods and fostering economic growth in rural communities. The beneficiaries expressed their excitement about the opportunities provided by these outreach programmes.
A Path to a Prosperous Arunachal Pradesh
These Credit Outreach Programmes are helping to build a stronger, more financially inclusive Arunachal Pradesh. By supporting small businesses, rural development projects, and empowering women, the government is working towards sustainable development in the state.
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