Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman participated in two significant Credit Outreach Programmes held in Itanagar and Namsai, Arunachal Pradesh. These initiatives are part of the government’s efforts to promote financial inclusion and economic growth in the region.
In Itanagar, the event saw the presence of Arunachal Pradesh Chief Minister Shri Pema Khandu, Deputy Chief Minister Shri Chowna Mein, and senior officials from both central and state governments. Key banking institutions such as SBI, PNB, NABARD, and SIDBI were also represented. During the program, Rs. 14.4 crore in sanction letters were distributed to 160 beneficiaries under various schemes, supporting retailers, MSMEs, and agricultural activities. NABARD provided Rs. 1.5 crore to Rajiv Gandhi University for setting up a Rural Business Incubation Centre and allocated Rs. 18 crore for other projects, while SIDBI sanctioned Rs. 40 lakh for micro-enterprises.
SBI showcased its commitment to community welfare through CSR initiatives, including donating an ambulance, a hearse van, and 50 bicycles for girl students. Smt. Sitharaman also flagged off two financial literacy vans from NABARD and a mobile medical unit from SIDBI. In her speech, she commended the banks for their role in building a “Viksit Bharat” (Developed India) and emphasized the importance of increasing banking access in Arunachal Pradesh to support entrepreneurship and economic growth.
At the second program in Namsai, Smt. Sitharaman inaugurated SBI’s new Regional Business Office (RBO) to strengthen financial services in the Aspirational District. During this event, sanction letters amounting to Rs. 6.8 crore were distributed to 195 beneficiaries. NABARD sanctioned Rs. 92.5 lakh for initiatives like GI registration, rural marts, and micro-ATMs, while SIDBI contributed Rs. 1.5 lakh for women’s livelihood programs. The Union Minister also interacted with women SHGs and flagged off a school bus and bicycles for female students as part of SBI’s CSR initiatives.
As part of the ‘Ek Ped Maa Ke Naam’ campaign, Smt. Sitharaman planted a sapling, reinforcing the government’s commitment to environmental sustainability. She also praised the achievements of the Aspirational District program in Namsai, particularly the granting of 20 GI tags to the state, and encouraged local entrepreneurs to bring these products to national and international markets.
Smt. Sitharaman highlighted the transformative potential of digital technology through projects like Bharat Net, 5G technology, and the ONDC, which can enhance the reach of micro and small industries. She urged banks to become development partners in the region, particularly by supporting traditional crafts like boat-making under the PM Vishwakarma scheme.
Overall, these outreach programs are set to play a pivotal role in driving financial inclusion and fostering sustainable development in Arunachal Pradesh, offering new opportunities for local entrepreneurs and communities.
