Sitharaman asks RRBs to enhance agriculture credit and boost MSME growth
Union Finance Minister Nirmala Sitharaman on Monday, urged Regional Rural Banks (RRBs) in the Northeast to enhance their efforts in disbursing agricultural credit, particularly focusing on horticulture and allied activities such as piggery, poultry, dairy, and fisheries. This move aims to bolster rural livelihoods in the region by providing greater financial support to agriculture-based enterprises.
Commencing her three-day visit to Arunachal Pradesh, Sitharaman chaired a high-level meeting in Itanagar to review the performance of the seven RRBs operating in the Northeast, covering Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura. During the meeting, she emphasized the need for these banks to increase their contribution to ground-level credit disbursement, which is crucial for the growth of rural economies.
The meeting was attended by M. Nagaraju, Secretary, Department of Financial Services (DFS), along with senior officials from the Finance Departments of all the northeastern states and heads of participating banks. Key officials from RBI, NABARD, SIDBI, etc. were also present.
During the meeting, discussions centred on enhancing business performance, upgrading digital technology services, and promoting business growth in allied agriculture and MSME sectors.
The Finance Minister emphasized the critical role of RRBs in supporting rural economies and urged them, along with their sponsor banks, to focus on identifying suitable beneficiaries under various Central government’s flagship schemes, including PM Vishwakarma.
On her second day in Arunachal Pradesh, the Finance Minister will visit Namsai, where she is scheduled to inaugurate the new SBI Regional Business Office, alongside other official engagements aimed at promoting financial inclusion and fostering economic development across the northeastern region.
On the final day of her visit to Arunachal Pradesh on October 2, Sitharaman will participate in the Swachhata Hi Seva program in Namsai. This participation reaffirms the government’s commitment to cleanliness and community welfare as part of the nationwide campaign.
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